Ed Brock is an award-winning journalist who has worked for various U.S. newspapers and magazines, including with American City & County magazine, a national publication based in Atlanta focused on city and county government issues. He is currently assistant editor at Asian Hospitality magazine, the top U.S. publication for Asian American hoteliers. Originally from Mobile, Alabama, Ed began his career in journalism in the early 1990s as a reporter for a chain of weekly newspapers in Baldwin County, Alabama. After a stint teaching English in Japan, Ed returned to the U.S. and moved to the Atlanta area where he returned to journalism, coming to work at Asian Hospitality in 2016.
WYNDHAM HOTELS & RESORTS recently signed 60 new franchise agreements for its ECHO Suites Extended Stay by Wyndham. Among the new developers were the first Asian American to take on the brand, Kalpesh Patel of VKB Management in Des Moines, Iowa, and Amish Patel of Precision Hospitality in Chattanooga, Tennessee.
Kalpesh and Amish have formed NXT Development to build at least 10 ECHOs over the next few years. The markets they are considering include Chattanooga; Mobile, Alabama; and Columbus or Athens, Georgia.
“At the end of the day, we've got a number of sites that we have access to,” Kalpesh said. “There are markets that are obviously taken. There are 250 or 260 signed deals out there. We have the ability to go just about anywhere as long as the market is open so we're looking at a lot of different options.”
The right background
Both men grew up in the hotel business. They’ve developed multiple brands, including several transient brands, but it was their involvement with the extended-stay segment, and particularly WoodSpring Suites, formerly Value Place, owned by Choice Hotels International.
“We were in a little bit everything but extended-stay wise we bought our first WoodSprings in 2015,” Kalpesh said. “We bought two of them and then since it opened a third and are under development on a fourth.”
Amish said the extended-stay segment has intrigued him since he bought his first Value Place in 2014.
“It was just a whole different operation, a different model,” Amish said. “I love the concept, love the management style of the team.”
Kalpesh said he met Amish through the Woodspring channels, such as owner advisory councils. They started talking about opportunities and came up with ECHO.
“ECHO is intriguing in the fact that we both are familiar with WoodSpring and extended-stay, economy extended-stay specifically, and the fact that it's been very good for us as a business,” Kalpesh said. “It is a product type and a solution that lends itself to being very developer friendly, very investor friendly. There's a high profitability in there that is starting to lack in a number of different other hospitality areas right now. And ECHO was just this new thing on the block.”
They also can develop ECHOs in markets in which they cannot build a WoodSpring. They also like the team leading the brand.
The right design
The main attraction of ECHO, however, is the design work that goes into it, both men said.
“We looked at the concept, we looked at who was at the forefront leading the brand with information and we knew a lot of the same people so we trust that leadership,” Amish said. “I feel that they are truly looking at the extended-stay as an extended-stay.”
A successful extended-stay hotel brand has to be efficient and clean, he said. ECHO is that.
“I like how you have singles on one side and your doubles on one side. You have a nice, easy flow of public area,” Amish said. “The back of the house is efficient. I like the set up of the laundry room to run efficiently with our staff, and the public area is just enough. It's not too much, it's not too little, and it looks great. The design aspect is very appealing.”
He also likes ECHO’s 1.9-acre footprint. Kalpesh said their experience with the WoodSpring brand has prepared them well for developing ECHO
“It's taken the WoodSpring model and even upped it a little bit from a construction standpoint,” Kalpesh said. “There's been a lot of thought in that prototype, and on the development and construction side to create more efficiency and cost effectiveness. And at the end of the day, that's what this product line is all about, how do you control your inputs so that your outputs are maximized? That's what it does.”
Part of the brand’s widening reach
The 60 new ECHO franchise agreements bring the brand’s global pipeline to 265 hotels and approximately 33,000 rooms. Multiple projects have broken ground and are in various stages of construction across Virginia, Texas and South Carolina, with more than a dozen more slated to break ground in the months ahead.
Wyndham expects to have 100 hotels open over five years, with the brand’s first locations beginning to make a meaningful contribution to Wyndham’s overall portfolio in 2024.
“Since announcing ECHO Suites last year, we’ve seen unprecedented interest from among the industry’s most-successful extended stay developers, helping make ECHO the fastest-growing brand launch of 2022,” said Chip Ohlsson, Wyndham’s chief development officer.
The all new-construction, 124-room ECHO Suites prototype requires under two acres of land and approximately 50,000 square-feet, individual rooms average 300 square-feet. The rooms consist of single- and two-queen studio suites with kitchens as well as a lobby, fitness center and guest laundry.
In July, Wyndham held its second Black Owners and Lodging Developers Symposium in anticipation of the upcoming 2023 National Association of Black Hotel Owners, Operators & Developers Hotel Ownership & Investment Summit.
Global hotel RevPAR is projected to grow 3 to 5 percent in 2025, JLL reports.
Hotel RevPAR rose 4 percent in 2024, with demand at 4.8 billion room nights.
London, New York and Tokyo are expected to lead investor interest in 2025.
GLOBAL HOTEL REVPAR is projected to grow 3 to 5 percent in 2025, with investment volume up 15 to 25 percent, driven by loan maturities, deferred capital spending and private equity fund expirations, according to JLL. Leisure travel is expected to decline as consumer savings tighten, while group, corporate and international travel increase, supporting RevPAR growth.
Major cities continue to attract strong demand and investor interest, particularly London, New York and Tokyo. APAC is likely to post the strongest growth, fueled by recovering Chinese travel, while urban markets remain poised for continued momentum.
Lifestyle hotels are emerging as the new “third place,” blending living, working and leisure. The trend is fueling expansion into branded residences and alternative accommodations. JLL said investors must weigh regional performance differences, asset types and lifestyle trends when evaluating opportunities.
Separately, a Hapi and Revinate survey found fragmented systems, inaccurate data and limited integration remain barriers for hotels seeking better data access to improve guest experience and revenue.
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The Trump administration says it is reviewing more than 55 million visa holders.
Reviews cover a wide range of visas for law enforcement and overstay violations.
The administration also suspended worker visas for foreign commercial truck drivers.
THE TRUMP ADMINISTRATION is reviewing more than 55 million people who hold valid U.S. visas for potential violations. It is expanding a policy of “continuous vetting” that could result in revocation and deportation.
The State Department confirmed all visa holders are subject to ongoing review, which includes checking for overstays, criminal activity, threats to public safety or ties to terrorism. Should violations be found, visas may be revoked, and holders in the U.S. could face deportation, according to the Associated Press.
Officials said the reviews will include monitoring of visa holders’ social media accounts, law enforcement records and immigration files. New rules also require applicants to disable privacy settings on phones and apps during interviews. The department noted visa revocations since President Trump’s return to office have more than doubled compared to the previous year, including nearly four times as many student visas.
The administration also announced an immediate halt on issuing worker visas for foreign commercial truck drivers, with Secretary of State Marco Rubio citing road safety and competition concerns for U.S. truckers.
“The increasing number of foreign drivers operating large tractor-trailer trucks on U.S. roads is endangering American lives and undercutting the livelihoods of American truckers,” Rubio posted on X.
The Transportation Department linked the move to recent enforcement of English-language proficiency requirements for truckers, aimed at improving safety. The State Department later said it was pausing visa processing while it reviewed screening protocols.
Critics, including Edward Alden of the Council on Foreign Relations, warned the actions could have significant economic consequences.
“The goal here is not to target specific classes of workers, but to send the message to American employers that they are at risk if they are employing foreign workers,” Alden wrote, according to AP.
Data from the Department of Homeland Security shows there are 12.8 million green card holders and 3.6 million temporary visa holders in the United States. The 55 million figure under review includes many outside the U.S. with valid multiple-entry tourist visas.
Earlier this week, the State Department reported revoking more than 6,000 student visas for violations since Trump returned to office, including around 200 to 300 for terrorism-related issues.
The vast majority of foreign visitors require visas to enter the U.S., with exceptions granted to citizens of 40 countries under the Visa Waiver Program, primarily in Europe and Asia. Citizens of China, India, Russia and most of Africa remain subject to visa requirements.
A $250 Visa Integrity Fee in President Donald Trump’s Big Beautiful Bill drew criticism from groups that rely on seasonal workers from Latin America and Asia on J-1 and other visas.
Peachtree Group originated a $176.5 million retroactive CPACE loan for a Las Vegas property.
The deal closed in under 60 days and ranks among the largest CPACE financings in the U.S.
The company promotes retroactive CPACE funding for commercial real estate development.
PEACHTREE GROUP ORIGINATED a $176.5 million retroactive Commercial Property Assessed Clean Energy loan for Dreamscape Cos.’s Rio Hotel & Casino in Las Vegas. The deal, completed in under 60 days, is its largest credit transaction and one of the largest CPACE financings in the U.S.
The 2,520-room Rio, now under the Destinations by Hyatt brand, was renovated in 2024 and comprises two hotel towers connected by a casino, restaurants and retail, Peachtree said in a statement.
“This transaction is a milestone for Peachtree Group and a testament to the ecosystem we have built over the past 18 years,” said Greg Friedman, Peachtree's managing principal and CEO. “Through our vertically integrated platform, deep expertise and disciplined approach, we have developed the infrastructure to be a leader in private credit. Our ability to deliver speed, creativity and certainty of execution positions us to provide capital solutions that create value for our investors and partners across market cycles.”
Atlanta-based Peachtree is led by Friedman; Jatin Desai as managing principal and CFO and Mitul Patel as principal.
The CPACE loan retroactively funded the renovations, allowing the owners to pay down their senior loan, the statement said. The property improvement plan included exterior work, upgrades to the central heating and cooling plant, electrical infrastructure improvements and convention center renovations.
Jared Schlosser, Peachtree’s head of originations and CPACE, said the deal marks an inflection point, with major financial institutions consenting to its use for the benefit of the capital stack.
“By closing quickly on a marquee hospitality asset, we were able to strengthen the position of both the owner and its lenders,” he said.
The CPACE market has surpassed $10 billion in U.S. originations in just over a decade, according to the C-PACE Alliance, with growth expected as more institutional owners and lenders adopt it.
“We see significant opportunity for retroactive CPACE and its use in funding new commercial real estate development,” Schlosser said. “It is an alternative to more expensive forms of capital.”
In June, Peachtree named Schlosser head of originations for all real estate and hotel lending and leader of its CPACE program. Peachtree recently launched a $250 million fund to invest in hotel and commercial real estate assets mispriced by capital market illiquidity.
Spark acquired the 120-key Home2 Suites by Hilton Wayne in Wayne, New Jersey.
Hunter Hotel Advisors facilitated the transaction with DC Hospitality Group affiliates.
The 2020-built hotel is near William Paterson University and less than 20 miles from Manhattan.
SPARK GHC RECENTLY acquired the 120-key Home2 Suites by Hilton Wayne in Wayne, New Jersey, from affiliates of DC Hospitality Group. Hunter Hotel Advisors facilitated the deal for an undisclosed amount.
The 2020-built hotel is less than 20 miles from Manhattan in a commercial corridor with major employers including Driscoll Foods, FedEx Group, Advanced Biotech, St. Joseph’s Wayne Hospital, and the Passaic County Administration, Hunter said in a statement. William Paterson University, Willowbrook Mall, and MetLife Stadium are also nearby.
It features an on-site fitness center, business center and indoor pool.
“The Home2 Suites by Hilton Wayne represents the type of asset we target,” said Patel. “Its proximity to major corporate demand generators, higher education institutions, and retail and entertainment venues supports strong performance.”
Hunter’s senior vice presidents, David Perrin and Spencer Davidson, brokered the transaction.
Patel said this is their second transaction with Hunter and praised the process and partnership.
“We look forward to building on the hotel’s recent performance and continuing to deliver guest experiences in the Greater New York City community,” he said.
Northstar Hotels Management recently acquired a 78-key Residence Inn and an 81-key Courtyard near the Jacksonville, Florida, airport.
Global pipeline hit a record 15,871 projects with 2.4 million rooms in Q2.
The U.S. leads with 6,280 projects; Dallas tops cities with 199.
Nearly 2,900 hotels are expected to open worldwide by the end of 2025.
THE GLOBAL HOTEL pipeline reached 15,871 projects, up 3 percent year-over-year, and 2,436,225 rooms, up 2 percent, according to Lodging Econometrics. Most were upper midscale and upscale, LE reported.
The U.S. leads with 6,280 projects and 737,036 rooms, 40 percent of the global total. Dallas leads cities with 199 projects and 24,497 rooms, the highest on record.
LE’s Q2 2025 Hotel Construction Pipeline Trend Report showed 6,257 projects with 1,086,245 rooms under construction worldwide, unchanged in project count and down 3 percent in rooms from last year. Projects scheduled to start in the next 12 months totaled 3,870 with 551,188 rooms, down 3 percent in projects but up 1 percent in rooms. Early planning reached 5,744 projects and 798,792 rooms, up 10 percent in projects and 9 percent in rooms year-over-year.
Upper midscale and upscale hotels accounted for 52 percent of the global pipeline, LE said. Upper midscale stood at 4,463 projects and 567,396 rooms, while upscale reached 3,852 projects and 655,674 rooms. Upper upscale totaled 1,807 projects and 385,396 rooms, and luxury totaled 1,267 projects and 245,665 rooms, up 11 percent year-over-year.
In the first half of 2025, 970 hotels with 138,168 rooms opened worldwide. Another 1,884 hotels with 280,079 rooms are scheduled to open before year-end, for a 2025 total of 2,854 hotels and 418,247 rooms. LE projects 2,531 hotels with 382,942 rooms to open in 2026 and 2,554 hotels with 382,282 rooms to open globally in 2027, the first time a forecast has been issued for that year.