By Matt Lawrence/DSH Hotel Advisors
Every summer, some of the hospitality industry’s influential hotel owners, developers, brand executives, and capital partners come together for the International African American Hotel Ownership & Investment Summit & Trade Show, hosted by the National Association of Black Hotel Owners, Operators & Developers (NABHOOD). This year’s edition, held July 22-24 at the Hyatt Regency Miami, carried extra weight, it marked NABHOOD’s 30th anniversary, and DSH Hotel Advisors was grateful for the opportunity to be part of it.
Founded in 1999, NABHOOD has spent three decades building toward a clear mission: increasing the number of African Americans developing, managing, and owning hotels, while expanding vendor and executive-level opportunities across the industry. Under founder, president, and CEO Dr. Andy Ingraham, the organization has grown steadily over the years, and this year’s summit reflected that growth.
A Summit That Brings the Industry Together
What stood out at this year’s summit was the range of people in the room. Hundreds of hotel owners, developers, institutional investors, and lenders were joined by leadership from major hotel brands, including Marriott International, Wyndham Hotels & Resorts, and Red Roof, engaging with an ownership community that continues to grow across the country. The Marriott International Luncheon brought together executives, owners, and government officials from across the United States, the Caribbean, and other international markets under one roof.
The program reflected that same scope. Attendees took in an “ABCs of Hotel Ownership” workshop aimed at demystifying the path into hotel ownership for newcomers. We sat in on other valuable panel discussions about the discipline and long-term thinking it takes for development and team building. It’s this mix of brand-level dealmaking and grassroots education that has made NABHOOD’s summit a fixture on the industry calendar for thirty years running.
Capital and SBA Lending Connections
Access to capital remains the single biggest hurdle for many aspiring and growing hotel owners, and the summit made clear how much expertise NABHOOD manages to put in one room. Capital partners active in the space, including Aries Capital and Stonehenge, were on hand discussing everything from mezzanine debt and partnership buyouts to funding for independent and boutique hotel assets across the Southeast. SBA lending expertise was well represented too, underscoring just how central government-backed financing remains to first-time and growing owners alike.
A Truly International Stage
One of the most distinctive parts of NABHOOD’s summit is how international it has become. At the Marriott International Luncheon, the Honorable Delano Seiveright, Jamaica’s Minister of State in the Ministry of Industry, Investment and Commerce, delivered the keynote address, encouraging investors to look past outdated perceptions and evaluate Jamaica on its current fundamentals. As Minister Seiveright put it, “there has never been a better time to invest in Jamaica.”
Jamaica and the Bahamas weren’t the only Caribbean markets well represented. A U.S. Virgin Islands delegation, led by the Virgin Islands Economic Development Authority, alongside the territory’s Department of Tourism and The West Indian Company, used the summit to showcase USVI hotel investment opportunities, part of a broader push that has already helped land new Hilton and Club Med development in the territory. Bahamian hospitality professionals were also active throughout the summit, reflecting the Caribbean’s growing role in NABHOOD’s mission.
Looking Ahead to the Next 30 Years
Thirty years in, NABHOOD’s summit continues to bring together an entire industry’s ownership community, brand leadership, capital sources, and government partners for three days each year. We’re grateful to Dr. Andy Ingraham and the entire NABHOOD organization for building a gathering this valuable for our industry, and glad to have had the opportunity to engage with the brands, capital partners, and leaders who make it what it is. We’re already looking forward to next year.