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July 2024 | Volume 25 #227

The Voice of Asian American Hoteliers

Getting an

early start

Young hoteliers taking care of

business in their teens

Securing a

touchless future

Contactless hospitality tech trending

despite security challenges

Hotel companies in the news include:

Peachtree Group, Vision Hospitality Group, Park Ave. LLC

Not just a drop

in the bucket

Hospitality organizations are

adopting water and power

conservation initiatives

15

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Krish Tolani, 17, in foreground reading plans,

overseeing an ongoing renovation at 74-room

Holiday Inn Express in Alamosa, Colorado,

expected to cost $20,000 a key. Tolani, who

oversaw his first hotel PIP last year, is one of a

growing number of young people entering the

hotel industry in increasingly important roles.

Cover Story

News

Sustainability

Design

Product Feature

20 | Getting an early start

Young hoteliers taking care of business in

their teens

5 | Former AAHOA Chairman MP Rama

passes away

The 74-year-old co-founded Auro Hotels

with his brothers

6 | Oklahoma hotel owner dead after

assault

Mistry is the second Indo American hotelier

to die from on-duty violence this year

7 | AAHOA, AHLA applaud passage of No

Hidden FEES Act

The act would establish a uniform standard

for transparent and mandatory fee

displays in the lodging industry

8 | Hilton to double lifestyle portfolio to

700 hotels in four years

Hilton to double lifestyle portfolio to 700

hotels in four years

10 | Report: Hilton, Hyatt lead in value,

Taj is strongest brand

Hilton and Hyatt are the only two U.S. hotel

brands to feature in the list

Peachtree issues $40 million CPACE

financing for AC Hotel San Diego

BLG San Diego LLC opened the 147-room

hotel in March 2023

11 | HSMAI Global introduces hotel sales

leader certification program

Applicants need a minimum of two years'

sales experience in hospitality

12 | AHLA: U.S. hotels add 700 jobs in

May despite workforce challenges

Survey found 76 percent of hoteliers are

experiencing a stafÏng shortage

15 | Not just a drop in the bucket

Hospitality organizations are adopting water

and power conservation initiatives

18 | Showing a little Moxy

Vision Hospitality opens first hotel in Boulder,

CO, since 2018

26 | Securing a touchless future

Contactless hospitality trending despite

security challenges

On the cover

14 | LE: U.S. leads global full-service

hotel pipeline in Q1 with 2,272 projects

Dallas and Los Angeles are among the top

five cities globally in the pipeline

Canary secures $50 million to research

AI guest tech

Insight Partners led the round, with existing

investors participating

COMING

NEXT ISSUE:

More hospitality news

Contents

08

10

11

14

15

18

06

www.asianhospitality.com

July 2024 | Issue 227

Gujarati translation of top stories

begins on page 30

ISSN 1938-8837

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Prevent a

‘misinformation spiral’

ehind me, the news on TV is showing a loop of the moment some

misguided young man apparently took a shot at Donald Trump. It’s

the day after the assassination attempt in Pennsylvania, and this is the

second version of my editorial on the subject.

I’m rewriting it because, like many people, I assumed the attack

was politically motivated. However, the more we learn about 20-year-old Thomas

Matthew Crooks, the alleged shooter killed at the scene, the more I’ve come to

believe the attack was not politically motivated, and that changes the nature of the

discussion we should have.

Let me be clear, and I know some of you will be shocked and disappointed to hear

this, but I do not support Donald Trump. Indeed, I am vehemently opposed to giving

him a second term in ofÏce and consider him dangerously unqualified to hold the

ofÏce of president.

However, let me be equally clear that I do not wish to see him dead. I want him to

run in November and, hopefully, be voted down by a majority of Americans, because

that is how it is supposed to work.

What motivated Crooks, while it remains under investigation, appears to resemble

more the story behind most mass shooters in modern America. He was a Pennsylvania

native and a registered Republican who once donated to a Democratic PAC.

This year’s presidential election would have been the first one in which he would

have been old enough to vote. He was quiet. He was bullied in high school. He had his

father’s AR-15 and some primitive explosives in his car.

Political assassins tend to leave manifestoes or some other expression of the

political ideology that motivated their actions. Mass shooters are more motivated

by a desire to create a story of disaster with their actions merely to maximize the

attention they receive.

I believe the Trump rally was simply a target of opportunity for Crooks. It was a

major event, with a lot of media attention, happening within an hour’s drive of where

he lived at the moment when his internal pressures hit critical mass.

However, within minutes of the incident, some rally attendees began shouting

accusations at members of the media, saying the shooting was their fault. The

conspiracy mill began churning, including some proposing that Trump staged the

attempt to draw ratings (ridiculous!) to, unsurprisingly, accusations on social media

by right wing politicians such as Marjorie Taylor Greene blaming President Biden for

the attempt.

To me, then, today’s challenge is to prevent a misinformation spiral that leads to

further violence that actually will be politically motivate. That’s up to all of us and it

means we all need to think and verify the information we spread.

I’m sure I can count on you.

Edward J. Brock, Senior Editor

[email protected]

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Editor's Letter

04

www.asianhospitality.com

July 2024 | Issue 227

05

News

www.asianhospitality.com

July 2024 | Issue 227

AHOA Past Chairman Manhar P.

“MP” Rama passed away Sunday

at age 74. Rama was a co-founder

with his brothers of JHM Hotels that

later became Auro Hotels in Greenville,

South Carolina.

Rama was born in Africa and raised

in India, according to Auro Hotels.

He completed high school in Gurukul

Supa, Navsari, and graduated from M.S.

University of Baroda with a degree in

civil engineering. In 1973, he came to

the U.S. and attended California State

Polytechnic University in Pomona,

California, where he earned a master’s

degree in engineering. He worked with

the city of Pomona before entering the

hotel business.

“In the teachings of Sri Aurobindo, we

learn that life is a journey of the soul,

and my brother, M.P., lived this journey

with unwavering devotion, love, and

integrity,” said HP Rama, Founder of

JHM/Auro Hotels. “His contributions to

our family and the hospitality industry

are immeasurable. We will honor his

memory by continuing to embody the

values he held dear. M.P.’s spirit will

remain a guiding light for all of us.”

MP Rama served as AAHOA chairman

from 2005 to 2006, according to a

statement from the association. His

brother is AAHOA founder HP Rama and

AAHOA past chairman Jayanti P. “JP”

Rama, who passed away in February

2022.

At AAHOA’s 2022 Convention & Trade

Show in Baltimore, Maryland, Rama

received the Cecil B. Day Community

Service Award. At that time, he said,

AAHOA allowed him to develop himself

“professionally and as a person,” and

gave me an opportunity to expand my

skills and the ability to think ahead and

handle more responsibilities.”

"I've known MP Uncle for many years

now, and he's always been a very big

advocate for young professionals,

providing me personally with guidance

in my journey at AAHOA,” said AAHOA

Chairman Miraj Patel. “On behalf of

the AAHOA Board and leadership, we

extend our sincere condolences to the

family and all who knew and loved him."

Rama is survived by his wife, Surekha,

and children, Sima and Vinay Rama,

along with his two brothers, HP and

Raman “RP” Rama, and his sisters,

Madhu Vivek, Hansa Deva, Pushpa Lala

and Pravina Thakor.

He also served as president of the

Vedic Center of Greenville, according to

Auro Hotels, and was an active member

of the advisory council of Marriott and

the board of directors at the University

of Central Florida Foundation.

Rama served on the advisory council

of Hampton Inn by Hilton, the board of

directors of the Greenville Convention

and Visitors Bureau and the board

of directors of the South Carolina

Hospitality Association. He received the

“Entrepreneur Success Award” from the

U.S. Small Business Administration in

1995.

Rama’s funeral was held July 13 at

Faith Assembly on Curry Ford Road in

Orlando.

Former AAHOA Chairman MP

Rama passes away

The 74-year-old co-founded Auro Hotels with his brothers

Manhar P. “MP” Rama, AAHOA past chairman and co-founder of JHM Hotels that later became

Auro Hotels in Greenville, South Carolina, passed away Sunday at age 74.

News

06

www.asianhospitality.com

July 2024 | Issue 227

klahoma City hotelier Hemant

Shantilal Mistry died on June 23

following an assault in his motel

parking lot the previous night. Richard

Lewis, 41, was arrested in connection

with the attack in which police say he

punched Mistry, who died from the

impact.

Mistry, 59, an AAHOA member, is the

second Indo American hotelier this year

to die from on-duty violence following

the murder of Pravin R. Patel, owner of

the Hillcrest Motel in ShefÏeld, Alabama,

in February.

A video of the assault has gone viral

on social media, showing Mistry in a

white t-shirt arguing with Lewis in a sky

blue t-shirt. The argument escalates,

culminating in Lewis punching Mistry in

the face. Mistry collapses as Lewis walks

away. Police found Mistry unconscious

around 10:00 pm and transported him to

a nearby hospital, where he died at 7:40

pm the following day from his injuries,

according to a police report.

Lewis was apprehended at a hotel on

S. Meridian Avenue and is held at the

Oklahoma County Jail on a $100,000

bond, facing charges of aggravated

assault and battery, Oklahoma City Free

Press reported.

Leaving a ‘gaping hole’

Mistry, from Bilimora, Gujarat, was

an active member of the Gujarati

Samaj of Oklahoma Inc., where he led

the donation campaign, according to

Hindustan Times.

One of Mistry’s close friends, Jyoti

Mistry, posted on Facebook, mourning

his untimely death: “Miss you, dear

friend Hemant Mistry. You have always

been generous and loving to everyone.”

“Your sudden absence has left a gaping

hole in our hearts. We are consumed by

grief but cherish the memories you left

behind. I will never forget our last dinner

together, not even two weeks ago, where

we relived the moments of our lives.”

AAHOA condemned the incident,

drawing parallels to Patel’s

murder, and urged hoteliers to

prioritize safety protocols and avoid

handling confrontational situations

independently.

“Our hearts go out to Hemant’s family,

including his wife and children,” said

Miraj Patel, AAHOA’s chairman. “For

many AAHOA Members, hotels are not

just businesses; they are homes and

places of refuge. It is unimaginable to

our community that such a senseless act

of violence could occur. As someone who

grew up in my family’s hotel in Texas,

I understand the fear and dread that

comes with such violent situations.”

Safety first

AAHOA urged hoteliers to prioritize

safety protocols and advised engaging

law enforcement during confrontational

situations to mitigate risks to personal

safety. This recommendation aligns with

the Surgeon General’s recent report on

escalating gun violence, emphasizing

the importance of heightened vigilance

and professional intervention to prevent

unnecessary loss of innocent lives.

“Our hearts are deeply saddened by

the tragic loss of one of our beloved

members,” said Laura Lee Blake,

AAHOA’s president and CEO. “Incidents

like these are profoundly distressing

for all involved. Our prayers are with

Hemant’s family and loved ones during

this incredibly challenging period.

AAHOA is committed to honoring

Hemant’s life by raising awareness to

prevent future violence.”

Miraj said he has received numerous

calls and texts from the hotelier

community seeking ways to combat such

violence on their properties. In response,

AAHOA is accelerating the development

of educational resources to help hotel

owners minimize conflict and prevent

violent incidents by teaching effective

de-escalation techniques.

“We will strive to honor Hemant’s life

by promoting the importance of hotel

safety and security and advocating for

laws and policies that protect business

owners and their communities,” said

Miraj. “If our collective efforts can

prevent this from happening to even one

family in the future, we know our work

will not be in vain and that Hemant’s

legacy will live on in the AAHOA

Community and beyond.”

In 2021, Usha and Dilip Patel were

shot in their Elkton, Maryland, hotel

following an argument with a guest. Usha

was killed, and Dilip was hospitalized. In

the same year, a shooting at a Motel 6 in

Vernon, Connecticut, killed the 30-year-

old owner, Zeshan Chaudhry, after an

argument with a guest over a $10 pool

pass. In 2020, Cleveland, Mississippi,

hotelier Yogesh Patel was beaten to death

by a guest he had evicted from the Delta

Inn Motel.

Oklahoma hotel owner

dead after assault

Mistry is the second Indo American hotelier to die from on-duty violence this year

Hemant Shantilal Mistry, 59,

left, an Indo American hotel

owner and AAHOA member,

died on June 23 after an

assault in his Oklahoma City

motel parking lot. Richard

Lewis, 41, right, was arrested

in connection with the

attack in which police say he

punched Mistry, who died

from the impact. Photos

courtesy of India Today,

Oklahoma City Free Press,

and Oklahoma City Police

Department.

www.asianhospitality.com

07

News

July 2024 | Issue 227

AHOA and the American Hotel & Lodging Association

welcomed the passage of the No Hidden FEES Act

on June 11. The legislation aims to establish a

uniform standard for transparent and mandatory fee

displays across the lodging industry.

The bill, introduced by Reps. Young Kim

(R-California) and Kathy Castor (D-Florida), had

unanimous approval from the House Energy &

Commerce Committee in December and passed with

bipartisan support on the House floor.

AAHOA said that the legislation would empower

its hotelier members and guests to make informed

decisions and safeguard their financial interests.

"AAHOA thanks Congresswoman Kim for her

diligence in introducing legislation that will help level

the playing field for the hotel industry," said Miraj

Patel, AAHOA’s chairman. "With this legislation, which

requires full disclosure of all fees, guests can make

better-informed

decisions in selecting a

place to stay."

The association

backed H.R. 6543 since

its introduction by

Kim last year, with

its members sending

more than 200 letters

to Congressional

representatives urging

the bill's advancement.

"Currently, the way

prices are advertised

across the lodging

industry is fragmented

and not uniform," said Laura Lee Blake, AAHOA’s

president and CEO. "This bill provides consumers a

transparent and easy-to-understand total price for an

overnight stay."

AHLA also for a unified standard for mandatory

fee disclosure across the lodging industry, covering

short-term rental platforms, online travel agencies,

metasearch sites, and hotels. Recent AHLA data also

shows that only 6 percent of hotels nationwide impose

a mandatory resort, destination, or amenity fee,

averaging $26 per night.

“It makes sense for all lodging businesses –

from short-term rentals to online travel agencies,

metasearch sites, and hotels – to tell guests up front

about mandatory fees,” said Kevin Carey, AHLA’s

interim president and CEO. “That’s why AHLA has

led efforts supporting federal legislation to establish

a single and transparent standard for mandatory lodging fee

displays and an even competitive playing field.”

AAHOA, AHLA applaud

passage of No Hidden FEES Act

The act would establish a uniform standard for transparent and mandatory fee

displays in the lodging industry

less restrictions and

more independence

“ hihotels’ franchisee-friendly approach and

common-sense standards allow me the

freedom to run my property as I see fit.”

This is not an ofering. Federal laws and regulations and the laws and regulations of some states and provinces regulate the ofer and sale of franchises. An ofering

will only be made in compliance with those laws and regulations, which may require that we provide you with a disclosure statement. © 2024 Hospitality International

800-892-8405 • hifranchise.com • [email protected]

delivers

Jill Atfield

Owner, Master Hosts Resort

Highland Hills Motel & Cabins

Boone, NC

Thanks to hihotels’

unique franchising

model, Jill has enjoyed

tremendous success,

even through the

pandemic.

75–85%

Occupancy

AAHOA and the American Hotel &

Lodging Association applauded the

June 11 passage of the No Hidden

FEES Act bill, aimed at establishing

a uniform standard for transparent

and mandatory fee displays across

the lodging industry.

News

08

www.asianhospitality.com

July 2024 | Issue 227

ilton Worldwide Holdings aims

to double its 350 lifestyle hotels

by 2028, planning to add 350

more within four years, including 100

this year. Also, the company appointed

Kevin Osterhaus as president of global

lifestyle brands to oversee the growth,

design, and development of Canopy

by Hilton, Curio Collection by Hilton,

Graduate by Hilton, Motto by Hilton,

Tapestry Collection by Hilton and

Tempo by Hilton.

The growth will be supported by the

addition of the Graduate and NoMad

brands, Hilton said in a statement.

The company added more than 50 new

lifestyle hotels and approved another

100 in 2023. Additionally, this year

will mark the debut of Hilton’s 400th

property in this category.

“As we celebrate the 10th anniversary

of Hilton’s entry into the lifestyle

segment, we look ahead to even more

rapid growth with a powerhouse lineup

of brands that will meet the needs of

developers and guests alike in some of

the world’s most desirable locations,”

said Kevin Jacobs, Hilton’s chief

financial officer and president, global

development. “The recent addition of

the Graduate and NoMad brands to our

lifestyle and luxury lifestyle portfolio

will accelerate our growth as we look

for more opportunities to deliver the

exceptional experiences guests want in

the world’s top hotel destinations.”

Andrew Zobler, founder and CEO

of Sydell Group, will lead the NoMad

brand, overseeing design, branding, and

hotel management, while Hilton leads

future development, Hilton said. Over

the past decade, Zobler and his team

have created seven lifestyle brands,

including NoMad, The Line, Freehand

and The Ned.

NoMad’s flagship London hotel

and more than 30 existing Graduate

locations will be available on Hilton’s

booking channels later this summer, the

statement said. New Graduate hotels

will also open this year in Princeton,

New Jersey, and Auburn, Alabama.

Osterhaus to lead

Hilton's lifestyle brands

Osterhaus recently joined Hilton from

Graduate Hotels, where he oversaw global

operations and marketing for more than

30 U.S. properties, the statement said. He

also held leadership roles at Ennismore

International, The Hoxton Hotels, SIXTY

Hotels, and Standard International, and

played key role in the Bunkhouse Group’s

growth.

“We are excited to welcome Kevin and

benefit from his extensive experience

in the increasingly important lifestyle

category,” said Chris Silcock, Hilton’s

president, global brands and commercial

services, Hilton. “Kevin will oversee the

seamless integration of the Graduate

brand into our lifestyle portfolio to ensure

we maintain and accelerate what has

made Graduate a fan-favorite with guests,

as well as lead the strategic vision for all

of Hilton’s lifestyle brands.”

“Hilton’s lifestyle brands are aspirational,

design-led and experiential with authentic

points of view reflected in every aspect of

the stay,” said Osterhaus. “I look forward

to building on the category’s success and

continuing Hilton’s commitment to pushing

the boundaries of what it means to be a

lifestyle brand.”

Lifestyle portfolio

expansion

Canopy by Hilton: Recently opened

its first resort property in Seychelles,

with more resorts planned in Okinawa,

Japan; Bozeman, Montana; and beyond.

Celebrating its 10th anniversary, the

brand signed six new hotels in the first

quarter, expanding into Greece and

Malta, and will debut in Japan this year.

Curio Collection by Hilton: Expanding

from 34 countries in 2022 to 40 by

mid-2024, Curio Collection by Hilton

celebrates its 10th anniversary with plans

to open nearly 30 new properties this

year.

Graduate by Hilton: Has more than 35

properties operational or in development,

with Graduate Princeton and Graduate

Auburn set to open this year. The brand

aims for a global reach of 400-500 hotels.

Motto by Hilton: Made its South

American debut with Motto by Hilton

Cusco in Peru. The brand aims to be

present in 10 countries by 2026. Motto by

Hilton Hong Kong Soho will launch later

this year, with expansion into Bentonville,

Arkansas, slated for 2024.

Tapestry Collection by Hilton: After

celebrating its 100th opening in 2023,

the brand is on track to reach its 150th

this year. With more than 100 properties

in the pipeline, Tapestry is expanding

in Europe and entering new markets

in Thailand, Paraguay, and Turkey.

Bermudiana Beach Resort will open later

this year as the first Hilton in Bermuda.

Tempo by Hilton: Expanding with

recent and upcoming openings in New

York’s Times Square, Nashville, Louisville,

and Raleigh, aiming for around 30 hotels

by 2026.

Hilton to double lifestyle portfolio

to 700 hotels in four years

The company debuted its 400th lifestyle property this year; Osterhaus named president

Hilton plans to double its

350 lifestyle hotels by 2028,

adding 350 more within four

years, including 100 this

year. Also, Kevin Osterhaus

has been appointed

president of global lifestyle

brands to oversee the

portfolio's growth, design

and development.

www.asianhospitality.com

99

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News

10

www.asianhospitality.com

July 2024 | Issue 227

ilton Hotels & Resorts retained its

title as the world’s most valuable

hotel brand for the ninth consecutive

year, while Hyatt Hotels & Resorts secured

the second spot again, according to the

latest data from Brand Finance. Meanwhile,

India’s Taj Hotels is the world’s second-

fastest-growing brand, primarily due

to revenue growth and improved brand

strength.

Hilton’s brand value is estimated at $11.6

billion in the Brand Finance Global 500 2024

ranking. Hyatt holds a value of $6 billion,

and Taj increased its brand value by 45

percent to $545 million, Brand Finance said

in a statement.

“Many top hotel brands have struggled

to grow their brand value as robustly as in

the years leading up to 2020, and the Brand

Finance Hotels 2024 ranking shows that

these challenges are ongoing as the industry

recovers,” said Henry Farr, Brand Finance’s

associate director. “Despite an uptick in

travel and hotel demand, the actual growth

hasn’t matched expectations, resulting

in slight declines or minimal brand value

growth for the world’s leading hotel brands.”

Hilton and Hyatt are the only two U.S.

hotel brands to feature in the list, Brand

Finance data showed.

Eight of the top 10 brands in the ranking

decreased in brand value, and more than

60 percent of U.S. brands featured also saw

a decrease. This indicates that the industry

is struggling to fully capitalize on brand

growth potential despite rising demand, the

London-based brand valuation consultancy

said.

Rise of Taj

Taj became the world’s second fastest-

growing brand, after Sheraton’s Four Points,

climbing three positions in the Brand

Strength Index (BSI) ranking to become the

world’s strongest hotel brand, according

to Brand Finance data. With an improved

BSI score of 92.3 out of 100, Taj earned a

AAA+ rating, the highest awarded by Brand

Finance.

Indian Hotels Company Ltd, owned by

Tata Group, operates the Taj Group of

hotels.

Brand Finance noted that Taj excelled

in crucial brand strength metrics like

familiarity, consideration, recommendation,

and reputation, reinforcing its dominant

position in India's hotel sector.

“We are delighted for the iconic brand

Taj to be honoured as the World's Strongest

Hotel Brand yet again, in its milestone 120th

year. Receiving this recognition for four

years, thrice as number one in the world,

is a testament to the brand’s century-old

legacy of pioneering destinations, setting

global benchmarks, and showcasing Indian

hospitality to the world,” said Puneet

Chhatwal, IHCL’s managing director and

chief executive ofÏcer.

“This achievement underscores the trust

and affection of our guests and the steadfast

dedication and commitment of our

colleagues in delivering warm and sincere

service, a true hallmark of Taj,” Chhatwal

added.

Report: Hilton, Hyatt lead in

value, Taj is strongest brand

Hilton and Hyatt are the only two U.S. hotel brands to

feature in the list

Hilton remains the world’s most valuable hotel

brand for the ninth year in a row, with Hyatt

holding onto second place, according to Brand

Finance. India's Taj is the world’s second-fastest-

growing brand, driven by revenue growth and

enhanced brand strength.

eachtree Group Recently issued a

$40-million retroactive Commercial

Property Assessed Clean Energy loan to BLG

San Diego LLC for the newly opened 147-room AC

Hotel San Diego Downtown Gaslamp Quarter. The

proceeds enabled BLG to reduce its senior loan

with California-based Preferred Bank and E.Sun

Commercial Bank to under $20 million, thereby

mitigating the banks’ exposure, Peachtree said in a

statement.

“This innovative capital structure significantly

alleviated the immediate financial pressures,

enabling the hotel to establish a solid cash flow

foundation during its initial years of operation,”

said Greg Friedman, managing principal/CEO,

Peachtree Group.

Peachtree is led by Friedman, with Jatin Desai as

managing principal and chief financial ofÏcer, and

Mitul Patel as principal.

The CPACE financing is amortized over more

than 30 years, with no payments required for the

first year, followed by five years of interest-only

payments.

“When we opened the AC Hotel San Diego

Downtown Gaslamp Quarter in March 2023, there

was a sizeable disconnect between hospitality

fundamentals, which are strong, particularly in San

Diego, while the debt markets were deteriorating

meaningfully,” said Brad Honigfeld, the New Jersey-

based Briad Group’s founder, chairman and co-

CEO. “The Fed’s tightening process and rising fund

rates drove up the cost of debt considerably.”

The new hotel is in downtown San Diego’s

Gaslamp Quarter, known for its restaurants, shops

and nightlife.

“Our hotel was benefiting from its location and

performing to its original underwriting, but the debt

costs were straining cash flows,” Honigfeld said.

Retroactive CPACE funding provides advantages

for property owners, Peachtree said. It operates

like standard pre-project funding but 100 percent

of the loan proceeds can reimburse owners for

previously incurred costs. This allows for better

loan terms and improved cash flow after project

completion.

“The financial relief it provides not only ensures

the hotel’s success but also positions it for long-

term stability,” said Friedman. “By reducing the

financial burden in the early years, owners can

focus on delivering exceptional guest experiences

and achieving operational excellence.”

By 2024, $5.8 billion in U.S. hotel-securitized

loans will need repayment, refinancing, extension,

or sale, according to Peachtree, citing JLL Research.

In this tough lending market, CPACE financing has

become a liquidity source as owners face upcoming

debt maturities and limited refinancing options.

It has quickly gained traction in commercial real

estate, reaching $7.2 billion in the U.S. in just over a

decade, according to PACENation.

Peachtree issues $40 million CPACE financing for AC Hotel San Diego

BLG San Diego LLC opened the 147-room hotel in March 2023

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