Asian Hospitality: Edition 220
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November 2023 Volume 22 #220
The adventure
of her life
Wyndham’s Checchio talks marketing
and diversity for the Leadership Series
In times of trouble
For this year’s Diwali issue, Asian
Hospitality’s readers share their
hopes for humanity.
Hotel companies in the news include:
The Satori Collective and Aperture Hotels, New Gen Operations, Sunshine Brooklyn LLC,
NewcrestImage and Dabu Group, Peachtree Group
Bugging out
New technology leads to
new solutions for bed bugs
Leadership Series
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Contents
Contents
COVER STORY
24 The adventure of her life
Wyndham’s Checchio talks marketing and
diversity for the Leadership Series
NEWS
6 Choice seeks to acquire Wyndham despite
rejection
Wyndham’s board calls the proposal
‘unsolicited’ and ‘underwhelming’
8 Poll: Many concerned about safety with
proposed L.A. hotels homeless housing
mandate
AAHOA, AHLA also oppose the ballot
initiative put forth by Unite Here hotel
workers’ union
12 Report: Black and women representation
in industry boards rising
The research is part of AHLA Foundation's
DE&I eff ort in hospitality
14 NewcrestImage, Dabu Group JV acquires
Texas Marriott
The 294-room hotel will undergo a full
renovation
Peachtree invests $1.1 billion in commercial
real estate
The company aims to surpass $1 billion in
originations for 2023, with continued growth
in 2024
15 Survey: Boston most expensive U.S. city for
hotel stays
The least expensive double room averaged $167
in all 50 cities surveyed
DIWALI
16 In times of trouble
The light from this year’s Diwali celebrations
shines on a troubled world and Asian
Hospitality’s readers share their hopes for
humanity
DESIGN
22 New life for London’s OWO
The restored building includes nine restaurants
and a Raffl es Hotel
PRODUCT FEATURE
30 Bugging out
New technology leads to new solutions for bed
bugs
Gujarati translation of top stories begins on
page 36
On The Cover
Lisa Checchio, chief marketing offi cer for
Wyndham Hotels & Resorts, shares her story
is Asian Hospitality’s Leadership Series.
Checchio discussed marketing in the digital
age, including plans to target marketing around
infrastructure projects near Wyndham hotels,
as well as the company’s programs to advance
women and minority ownership of hotels.
CONTENTS
ISSUE 220
NOVEMBER 2023
24
COMING
NEXT ISSUE:
TECH FOR
THE INDEPENDENT
HOTELIER
Contents
Contents
15
16
10
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33
NOVEMBER 2023 ASIAN HOSPITALITY
22
Make Entegra your partner in
purchasing and performance.
Entegra Procurement Services
Entegra Procurement Services
Entegra Procurement Services
We wish you a wonderful Festival of Lights
Happy Diwali!
Unmatched purchasing. Unlimited performance.
30
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That holiday feeling
n this November issue of Asian Hospitality,
we once again celebrate Thanksgiving, that uniquely American …
What?
Oh, no, right, we celebrate Diwali, Festival of Lights in this episode.
Sorry, Thanksgiving, looks like you’ve been forgotten again.
But, I’ll tell you what, let’s see if we can’t shoehorn in a little Thanksgiving
into this editorial.
I’ll admit, Thanksgiving is not my favorite holiday ever, but it’s also not
one I forget because I usually travel with my wife and kids to see my
family in Mobile, Alabama. That’s a five-hour drive from Atlanta so it’s
hard to forget. Oh, and it’s always good to see my family anyway!
Unlike many, my family isn’t particularly dysfunctional and holidays are
mostly pretty happy occasions. Mostly.
I mean, there was the time when I had to intervene in a shouting match
between my sister and her son while he was holding armfuls of guns, but
otherwise it’s a happy time. Really.
Anyway, there are many comparisons that can be made between Diwali
and Thanksgiving, though really I suppose that’s true of most holidays.
Generally, they are opportunities to gather together with people you love,
eat good food and forget about the world for a while.
Apart from some details, that’s about the gist of all of them.
In fact, we could probably just combine them all as “Universal Gathering
Days” and parse them out throughout the year with maybe an alternating
schedule so that some people stay at work while others take off. Except,
maybe that wouldn’t work because a big part of every holiday is the
traditions that surround them.
Still, I think it’s important to focus a little on that unifying factor, the
core element for all holidays: gathering together with people we love to
have fun. We all need that, all people from every culture. Humans need
to reassure themselves that there is good in the world from time to time.
So, happy Diwali/Thanksgiving to all of you, and may you each find
satisfaction and happiness now an throughout the year.
Edward J. Brock, Senior Editor
Follow Asian Hospitality online...
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Editor's Letter
Editor's Letter
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4 ASIAN HOSPITALITY NOVEMBER 2023
News
News
www.asianhospitality.com
55
NOVEMBER 2023 ASIAN HOSPITALITY
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News
News
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6 ASIAN HOSPITALITY NOVEMBER 2023
onths of rumor were
confirmed true when Choice
Hotels International on
Oct. 17 announced it has proposed
to acquire Wyndham Hotels &
Resorts in an approximately $9.8
billion transaction. The proposal
to Wyndham stockholders came
after months of negotiations broke
down and Wyndham’s board of
directors voted to decline Choice’s
offer, calling it “underwhelming”
and risky.
AAHOA also issued a statement
saying it has “high concern” that a
Choice/Wyndham merger would
give one franchiser too much
dominance over the economy/
limited service hotel segment.
The proposal
In its announcement of the proposal,
Choice said it sought to acquire all the
outstanding shares of Wyndham at a
price of $90 per share, payable in a mix
of cash and stock. Shareholders would
receive $49.50 in cash and 0.324 shares of
Choice common stock for each Wyndham
share they own. Choice claims that is a 26
percent premium to Wyndham's 30-day
volume-weighted average closing price
ending on Oct. 16, an 11 percent premium to
Wyndham's 52-week high, and a 30 percent
premium to Wyndham's latest closing price.
Wyndham shareholders would be able to
choose either cash, stock, or a combination
of cash and stock consideration, subject
to a customary proration mechanism. The
proposal implies a total equity value for
Wyndham of approximately $7.8 billion on a
fully diluted basis.
"We have long respected Wyndham's
business and are confident that this
combination would significantly accelerate
both Choice's and Wyndham's long-term
organic growth strategy for the benefit of all
stakeholders,” said Patrick Pacious, Choice’s
president and CEO.
Choice’s efforts to acquire Wyndham has
been rumored about since June, at which
time both companies denied it. Choice said
negotiations on the deal have been ongoing
for six months.
"A few weeks ago, Choice and Wyndham
were in a negotiable range on price and
consideration, and both parties have a
shared recognition of the value opportunity
this potential transaction represents. We
were therefore surprised and disappointed
that Wyndham decided to disengage,”
Pacious said.
In its response, Wyndham outlined its
specific reasons for declining Choice’s offer.
The response
Wyndham’s board unanimously rejected
Choice’s proposal, calling it unsolicited,
“highly conditional” and not in the best
interest of shareholders. They identified
several issues with the proposal, including:
The proposed transaction involves
significant business and execution risks,
including an extended regulatory timeline
and uncertainty of outcome, potential
franchisee churn, and excessive leverage
levels at the pro forma combined company.
The consideration mix includes a
significant component of Choice stock,
which the board believes is fully valued
relative to Choice's growth prospects,
especially when compared to Wyndham.
The offer is opportunistic and
undervalues Wyndham's future growth
potential.
"Choice's offer is underwhelming, highly
conditional, and subject to significant
business, regulatory and execution risk.
Choice has been unwilling or unable
to address our concerns," said Stephen
Holmes, chairman of the Wyndham
board. "While our board would
support a value-maximizing
transaction, given the substantial,
unmitigated embedded risks
and value destruction potential
presented by the proposed
transaction, our board determined
it is not in the best interests of
Wyndham shareholders."
AAHOA gave similar reasons for
opposing the merger.
Concerned about ‘sector
dominance’
In its statement, AAHOA pointed
out that a merged Choice/
Wyndham would have 16,500 hotels
with 46 brands and dominate the economy/
limited service segment.
“As the owners of more than two-thirds of
both Choice Hotels and Wyndham-branded
hotels, AAHOA members have much at
stake with Choice’s potential purchase
of Wyndham,” said AAHOA Chairman
Bharat Patel. “To have one franchisor
Choice Hotels control so many economy
and limited service hotels will give our
members little opportunity to have a say
in whether the franchise mandates and
requirements are fair, and significantly limit
their options to find a different brand under
which they could successfully operate their
hotels.”
In February, Choice withdrew its support
for AAHOA over the association’s support
for franchising reform, including a proposed
bill in New Jersey’s Assembly Bill 1958,
which would make changes to the New
Jersey Franchise Practices Act that could
benefit hotel owners.
“This news of a potential merger has
sent a shock wave of high concern and even
fear through our AAHOA membership,”
said Laura Lee Blake, AAHOA president
and CEO. “We have seen in the past the
major impact that mergers and acquisitions
by the big hotel franchisor corporations
can have on our members as the hotelier
franchisees.”
Blake said AAHOA is calling on the
Federal Trade Commission to investigate
the proposed merger.
Choice seeks to acquire
Wyndham despite rejection
Wyndham’s board calls the proposal ‘unsolicited’ and ‘underwhelming’
Patrick Pacious, Choice Hotels International’s president and CEO,
left, and Geoff Ballotti, Wyndham Hotels & Resorts' president and
CEO, speaking at their companies’ conferences. On Oct. 17, Choice
announced it has proposed to acquire Wyndham in an approximately
$9.8 billion transaction.
News
News
www.asianhospitality.com
77
NOVEMBER 2023 ASIAN HOSPITALITY
Happy Diwali
Wherever you are celebrating the Festival of Lights, wishing you
and your families a prosperous and joyous Diwali from everyone at
IHG® Hotels & Resorts.
True Hospitality for Good
DEVELOPMENT.IHG.COM
©2023 IHG Hotels & Resorts. All rights reserved. Most hotels are independently owned and operated.
News
News
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8 ASIAN HOSPITALITY NOVEMBER 2023
ore than seven in 10 Americans
would be deterred from booking
a hotel room in Los Angeles if
hotels there are forced to house homeless
people next to paying guests, according
to a recent poll by American Hotel &
Lodging Association. The survey was
released as the city considers a proposed
ordinance that would require hotels to
house homeless individuals alongside
paying guests, a change opposed by
AHLA and AAHOA.
Los Angeles residents will vote in
March 2024 on the ballot initiative
proposed by Unite Here, a labor union
representing L.A.-area hotel workers.
The AHLA study highlighted the
significant impact such a policy would
have on tourism and hotel occupancy in
the city. However, if Unite Here's ballot
initiative passes, Los Angeles would
be the first city in American history to
require hotels to house homeless people
alongside paying guests.
Concerns about safety
The Morning Consult survey,
commissioned by AHLA, took place from
Sept. 18 to 20, involving 2,203 U.S. adults
nationwide. The topline results may
have a margin of error of plus or minus 2
percent.
The findings include:
71 percent are concerned about safety
risks to hotel staff and guests due to the
housing mandate.
72 percent of Americans would
hesitate to book a hotel room in Los
Angeles. For prior visitors, this figure
jumps to 83 percent.
71 percent would be discouraged from
leisure trips to L.A. Among past visitors,
this figure rises to 80 percent.
70 percent of Americans would
reconsider attending a business
conference in Los Angeles. Among
prior L.A. visitors, this figure rises to 79
percent.
71 percent worry about hotels reducing
amenities or quality if the housing
mandate is enforced.
70 percent express concerns about
potential damage to hotel property.
75 percent believe the policy overlooks
the root causes of homelessness, and 74
percent worry about inadequate focus on
long-term housing solutions for homeless
individuals.
Ballot withdrawal
deadline: Dec. 8
According to L.A. regulations, Unite
Here can retract the ballot initiative as
long as it does so 88 days prior to the
election or by Dec. 8. However, Unite
Here has refrained from taking this step,
AHLA said in the statement.
The organization's leaders have
emphasized the inclusion of housing
for homeless individuals next to paying
guests as a focal point in negotiations
with L.A.-area hotels and have demanded
hotel support for the practice.
Also, the Los Angeles City Council
has not yet held a hearing regarding the
economic impacts of the proposed policy.
AHLA is urging the council to promptly
conduct an economic impact hearing and
pass a resolution in opposition to Unite
Here’s ballot measure.
“Homelessness is a serious and
complex problem that can only be
addressed by professional social and
health care workers with specialized
training,” said Chip Rogers, AHLA
president and CEO. “Unite Here’s
insistence on forcing hotel workers
and guests to deal with this issue is
dangerous. If Unite Here succeeds in
turning all L.A. hotels into homeless
shelters, eventually there will be no
hotels – and no hotel workers – left in the
city.”
“Safety concerns will prevent workers
from taking hotel jobs and drive tourists
to other locations,” Rogers also said.
“That’s a fact, and these poll results
prove it. That’s why we’re calling
on Unite Here to drop its dangerous
demand to turn hotels into homeless
shelters, in LA or any other city where
they might try it.”
A spreading issue
AAHOA has similar concerns about the
proposed ordinance.
“We're being very, very involved
because whatever happens in L.A.
could then expand up and down the
West Coast and throughout California
as well,” said Laura Lee Blake, AAHOA
president and CEO. “It could go up to
Oregon, Washington, Chicago, it starts
moving across the country. Of course, we
care a lot about anyone that's unhoused,
anyone that's living on the streets, but at
the same time, hotels and hotel owners
and hotel teams are not equipped to
handle the complexities of sometimes
what this would involve, such as people
with addictions or physical or mental
disorders.”
Poll: Many concerned about safety with
proposed L.A. hotels homeless housing mandate
AAHOA, AHLA also oppose the ballot initiative put forth by Unite Here hotel workers’ union
More than 70 percent of Americans would rethink booking a Los Angeles hotel room if homeless individuals
were housed alongside paying guests, according to a recent poll by the American Hotel & Lodging Association.
In March 2024, Los Angeles residents will vote on a ballot initiative proposed by hotel workers union Unite Here
that would require hotels to house homeless individuals.
News
News
www.asianhospitality.com
99
NOVEMBER 2023 ASIAN HOSPITALITY
Wishing you
a very
Happy Diwali
and
Prosperous
New Year
he Homewood Suites by Hilton Atlanta/Perimeter Center, 114 suites,
reopened Oct. 12 after a multi-million dollar renovation. It is owned
by the Satori Collective, led by Rakesh Chauhan and Andy Chopra as
managing partners, and managed by
its affiliate Aperture Hotels.
The renovation included upgrades
to public spaces, guest rooms, fitness
center and meeting space. Addition-
ally, the hotel refinished the exterior
and signage and installed new electric
vehicle charging stations.
“This multimillion-dollar CapEX in-
vestment confirms our belief that this
market is continuing to return and will
continue to do so after the GA 400/I-
285 interchange is complete later
this year,” said Lloyd Crabtree, Satori
Collective’s chief asset management
officer. “We are encouraged to see the
headlines in the market about growth
and changes in the area.”
Located in the Perimeter area of
Atlanta, the extended-stay hotel is
near the Sandy Springs MARTA station, Perimeter Mall, the High Muse-
um of Art, Fox Theatre and downtown Atlanta. Hotel amenities include
an indoor pool, fitness center and 851 square feet of meeting space.
In April Banyan Investment Group rebranded as Satori Collective,
an investment management firm focusing primarily on hotel property
investment. Aperture Hotels was previously Banyan’s subsidiary Banyan
Tree Management.
Openings
The Best Western Glenview - Chicagoland Inn &
Suites in Glenview, Illinois, 107 rooms, Oct. 16. The hotel
is owned by Lal Patel and is near the Grove Park, Chicago
Botanic Garden, Kohl Children’s Museum and the Illinois
Holocaust Museum & Education Center. Amenities
include a heated outdoor swimming pool, a fitness center,
a 10-person meeting room and electric vehicle charging
stations.
The TownePlace Suites by Marriott in South Portland,
Maine, 101 suites,
Oct. 12. It is owned
by New Gen
Operations and
managed by New
Gen Hospitality
Management both
located in South
Portland, Maine, and
led by Suresh Gali as
president. The hotel
is near the Portland
International Jetport
and the Maine Mall.
The pet-friendly
hotel features a
fitness center, an
outdoor patio with
fire pit and Weber
grills, guest laundry
and electric vehicle chargers.
The avid hotel Brooklyn – Dyker Heights in Brooklyn,
New York, 76 rooms, Sept. 20. Owned by Sunshine
Brooklyn LLC with Naji Kotob as general manager, the
hotel is near Coney Island Lighthouse, Dyker Heights
Christmas Lights, Staten Island Museum and Deno’s
Wonder Wheel. Amenities include a fitness center and
parking.
Openings & Aquisitions
Openings & Aquisitions
www.asianhospitality.com
10 ASIAN HOSPITALITY NOVEMBER 2023
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