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205 | Opportunity Zones Create 21st Century Gold Rush
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Today’s report takes a look at a newcomer to hotel fund raising – the Investing in Opportunity Act, and the capital pools and projects the federal law is generating.
While the U.S. Department of the Treasury and the IRS are still working on the act’s punch list, many hotel developers and private equity groups are moving ahead to capitalize early on projects already breaking ground in designated opportunity zones.
In this episode, we hear from leadership at Peachtree Hotel Group of Atlanta, and a real estate attorney specializing in hotel development and opportunity zones. We also feature recorded interviews of the U.S. senators responsible for introducing the act.
You’ll hear from …
- Greg Friedman, co-founder and president, Peachtree Hotel Group
- Mitul Patel, co-founder, managing principal and COO, Peachtree Hotel Group
- Brian Waldman, senior vice of president of investments, Peachtree Hotel Group
- Nicole Ament, real estate lawyer and shareholder in the Brownstein Hyatt Farber Schreck law firm
Resources & Links
VIDEOS
- Scott and Booker at NACo.
- Scott on Bloomberg
- Scott on Senate Finance Committee
- Letter Sen. Tim Scott and others sent to Steve Mnuchin, secretary of the U.S. Treasury listing unanswered questions regarding opportunity zone investment.
- Economic Innovation Group (EIG)’s website FAQs
Opportunity Zone legislation links
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330 | Youthful Perspective: Industry leader Bijal Patel mourns the loss of ‘an entire generation’ of hospitality workers
Bijal Patel, 31, is CEO of Coast Redwood Hospitality and the youngest chair of the California Hotel & Lodging Association. He’s made even more history at CHLA by agreeing to serve an unprecedented second term as the lodging industry emerges from the coronavirus pandemic. Patel is a third-generation hotelier. Being so steeped in hospitality at such a young age is not new for members of the Indian American hotelier community, but Patel fears the pandemic has drained the industry of emerging talent. Lodging Leaders spotlights Patel, who represents a leadership demographic that is fighting for the life of the hospitality industry as they watch their peers veer toward other career paths.
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329 | Ruff and Ready: ADA gives hotels a short leash when accommodating guests with service animals
Many hotels these days have made room for guests with disabilities. Hotel managers and staff should also know what the Americans with Disabilities Act says about accommodating guests with pets. During the pandemic lockdowns, a lot of people added a pet to their household and now they’re bringing Fido along on vacation. Hotel employees need to know how to cater to both consumers who are pet owners as well as guests who travel with a trained service animal. Episode 329 of Lodging Leaders podcast reports on how the ADA defines a service animal and how a hotel is legally obligated to serve a guest who comes with a dog or any other animal.
