EB-5 Immigrant Visa Program Extension Signed into Law Without Any Changes - By Jim Butler

EB-5 Immigrant Visa Program Extension Signed into Law Without Any Changes - By Jim Butler

Hotel lawyer with great news for developers: the EB-5 immigrant visa financing program has been renewed — approved by Congress and signed by the President. It is being continued without change through September 30, 2016.

A funny thing happened on the way to the 2016 Federal budget approval last week. One of the “riders” to the omnibus appropriations bill was the EB-5 legislation sponsored by Senators Leahy and Grassley. For months preceding the scheduled Congressional action, many stakeholders in the EB-5 industry spent untold hours in negotiating complex provisions to deal with certain concerns regarding the program. These negotiations resulted in multiple drafts of the proposed legislation being exchanged between Congressional staff and industry leaders, with the “final” draft receiving the unanimous approval of the trade organization for regional centers, the Invest in the USA or IIUSA. It was a good compromise on many knotty issues.

Then at the proverbial 11th hour . . . on Wednesday, December 16, the elaborate “final” compromise proposal was jettisoned in favor of a simple extension of the expiration date for the Regional Center program to September 30, 2016, without any other changes to the program.

The EB-5 regional center program is extended without any other changes.

Yes. That is right. After all the discussions and proposals, THE ONLY CHANGE IN THE LAW IS AN EXTENSION OF THE EFFECTIVE DATE FOR THE PROGRAM THROUGH NEXT YEAR.

Nothing was done about any other issues, including the following:

• increasing the foreign immigrant’s minimum investment to $800,000 (or any other number)
• imposing restrictions on gerrymandering TEAs (like limiting census tracts to 12 or requiring they all be contiguous)
• levying a minimum annual fee on each regional center
• increasing regulatory filings, certificaitons, inspections and reports

The only change in EB-5 is extension of the expiration date of the program for 9+ months through September 30, 2016. Nothing else!

This is great news for most developers. Here’s what it means.

There are no changes in the law. Business will continue as usual. If you are a developer with a project in the market, you will not have to scramble to make any changes in your private placement memorandum. You will not have to change your minimum investment for foreign investors. Your investors will not have to worry if they have made necessary filing by the effective date of the new law.

If you are just starting to get into the process, the “old rules” continue and you don’t have to worry about figuring out the new ones. . . for now.

We believe these circumstances also suggest that if you are considering financing your development project with EB-5 capital, you should not delay. There are many reasons why you want to get your project in the process as soon as possible:

1. The number of visas for EB-5 remains at 10,000 per year. In the last two years these visas were all utilized prior to the end of the government’s September 30 fiscal year. Some industry experts predict that the visas could be fully utilized by May 2016 if this trend continues. It is almost certain they will all be used prior to September 30, 2016.

1. There is significant pent-up demand for EB-5 projects and capital –– from developers seeking the capital, foreign immigrants looking for qualified investments and the regional centers/lenders whose main business is identifying, vettting and marketing suitable development projects. The EB-5 program’s uncertainties had a chilling effect on new projects. How can you underwrite a project if you don’t know whether it will be in a TEA, what the new definition of a TEA will be, what the minimum required investment will be, how job creation will be counted (and therefore the amount of capital that can be raised), and so on.

1. We know of EB-5 lenders whose pipeline is now empty because they did not feel they could accept new projects while they were waiting to find out what the EB-5 rules would be for a new offering. We expect those pipelines to fill very fast. And the best will succeed beyond all others.

1. While it is never too late to start, execution risks will increase significantly as time goes on. With the rush of all constituents to take advantage of the current situation, time is not your friend. The 10,000 visa maximum per year may be reached in May or June, 2016. The top developers are now going back to raise their third, fourth and fifth rounds of EB-5 capital, and in ever larger amounts. (With the right lender, it is easier to raise $300 million or $500 million today than to raise $30 million). And don’t forget, China has been the source of more than 70% of the EB-5 capital the last two years. Business virtually closes down for a month in China for the Chinese New Year which starts February 8, 2016. So how will you squeeze into the window before EB-5 visas are exhausted in 2016?

1. Finally, the uncertainties of possible legislative change will grow greater with the passage of time. Many of those disappointed by the last-minute change that “only” extended the expiration date of the regional center program, have vowed to reintroduce legislation to correct the other issues they believe present significant problems. While there is normally some kind of grandfathering for transactions started prior to the passage of legislation, many believe that the industry is on notice about many important features of the EB-5 program, including minimum investment, TEA, and compliance with securities, regulatory, and national security concerns. Accordingly, there may be little or no grandfathering for changes which could materially affect anyone caught in mid process during the passage of such legislation. No one can predict when or whether this legislation will be presented, but it is almost certain to be raised at the expiration of the current sunset date of September 30, 2016. While one would hope that the last compromise reached on the “final” proposed legislation (prior to the last-minute change on December 16, 2015) would be the model, there is no assurance this will be the case. Therefore, again, the sooner you start and close your EB-5 financing deal, the greater will be your certainty of execution and the fewer challenges you are likely to have.

We have now closed more than $1 billion in EB-5 financings for our clients, and have sourced more than $700 million for them. Please give us a call if you would like to see if we can help you.

Hotels Remain Resilient into New Year: Room Rates Are Primary Driver of Growth in Q4 2015 and Q1 2016

Hotels Remain Resilient into New Year: Room Rates Are Primary Driver of Growth in Q4 2015 and Q1 2016

As hoteliers round out 2015 and head into the New Year, properties in major North American markets are experiencing steady increases in bookings, with 21 of the top 25 markets showing committed occupancy growth within the past month. However, there continues to be a strong reliance on increasing average daily rates (ADR) to achieve revenue per available room (RevPAR) growth, which will remain critical into 2016, according to new data from TravelClick’s December 2015 North American Hospitality Review (NAHR). 

“The new reservation growth in the final month of this year is welcomed news for hoteliers across North America,” said John Hach, TravelClick’s senior industry analyst. “The overall reservation trend is positive, especially given recent headlines and concern over terrorism, showing that North America continues to be a strong market. As ADR continues to be the key driver of RevPAR growth, we foresee this trend continuing, making it increasingly important for hoteliers to leverage advance booking business intelligence solutions to actively manage unanticipated local market developments.” 

Twelve-Month Outlook (December 2015 – November 2016)  

For the next 12 months (December 2015 – November 2016), transient bookings are up 1.2 percent year-over-year, and ADR for this segment is up 2.7 percent. When broken down further, the transient leisure (discount, qualified and wholesale) segment is showing occupancy gains of 4.6 percent and ADR gains of 2.8 percent. The transient business (negotiated and retail) segment is down -3.2 percent, but ADR is up 3.5 percent. Lastly, while the group segment shows resiliency – demand is up 2.5 percent, and rate is up 4.0 percent for the next 12 months – the pace of bookings has slowed. 

“2015 is ending on a resilient note, and this is carrying over into 2016; thus, there will continue to be viable opportunities for hoteliers to increase revenue and capitalize on the strength of the North American market,” added Hach. “These areas of growth are becoming increasingly localized and necessitate closely monitoring key nearby hotels and emerging alternative lodging competitors.”    

The December NAHR looks at group sales commitments and individual reservations in the 25 major North American markets for hotel stays that are booked by December 1, 2015, from the period of December 2015 to November 2016. 

* Committed Occupancy – (Transient rooms reserved + group rooms committed) / capacity

** Reserved Occupancy – Total number of rooms reserved / capacity 

The fourth quarter combines data from October and November and forward-looking data from December. 

About TravelClick, Inc.

TravelClick (TravelClick.com) provides innovative cloud-based solutions for hotels around the globe to grow their revenue, reduce costs and improve performance. TravelClick offers hotels world-class reservation solutions, business intelligence products, and comprehensive media and marketing solutions to help hotels grow their business. With local experts around the globe, we help more than 38,000 hotel clients in over 160 countries drive profitable room reservations through better revenue management decisions, proven reservation technology and innovative marketing. Since 1999, TravelClick has helped hotels leverage the web to effectively navigate the complex global distribution landscape. TravelClick has offices in New York, Atlanta, Chicago, Barcelona, Dubai, Hong Kong, Melbourne, Orlando, Shanghai, Singapore and Tokyo. Follow us on twitter.com/TravelClick and facebook.com/TravelClick.

Amway Grand Plaza Hotel in Grand Rapids Joins Curio Collection

Amway Grand Plaza Hotel in Grand Rapids Joins Curio Collection

An iconic hotel that has hosted numerous dignitaries, presidents and celebrities, the historic Amway Grand Plaza today joined Curio – A Collection by Hilton. Located in downtown Grand Rapids, the Amway Grand Plaza, Curio Collection by Hilton is owned and managed by AHC+Hospitality.

“This iconic property serves as a hot-spot for residents, business and leisure travelers thanks to its distinctive features that include the original architecture and design, as well as world-class dining options,” said Dianna Vaughan, global head, Curio – A Collection by Hilton. “We’re thrilled to welcome this intriguing hotel to the Curio collection that not only has a deep history in the Grand Rapids community, but one located at the heart of the best this beautiful city has to offer.”

Originally opened in 1913 as The Pantlind, the hotel included one of the world’s largest gold-leaf ceilings in the lobby and is honored to now be recognized as a Historical Hotel of America. As a National Trust for Historic Preservation, Historic Hotels of America recognizes hotels for faithfully maintaining their authenticity, sense of place and architectural integrity. Its distinguished history paved the way for the new Amway Grand Plaza, which reopened in 1981. Today, the hotel combines the graceful heritage of The Pantlind with the modern Glass Tower – which reopened in 2014 following a $14 million renovation featuring classic and contemporary design for today’s modern traveler.

Guests can relax in 682 spacious guestrooms, including 45 luxurious suites that include the Presidential Suite, Michigan Suite, Van Andel Suite and DeVos Suite. The hotel features a full service spa and salon, fitness center with state-of-the-art Precor equipment, an indoor pool, two hot tubs, a sauna and a steam room, a lighted tennis court, and racquetball court.

"We are able to offer our guests and the local community something that no other hotel can – a historic oasis in the heart of Grand Rapids,” said Richard Winn, president, AHC+Hospitality. “We’re excited to be a part of the Hilton Worldwide portfolio, and add this iconic hotel with sweeping views and abundant amenities to the Curio collection.”

The Amway Grand Plaza also boasts eight dining and lounge options ranging from fine dining to American classics to a restaurant featuring incredible views of the city:

• The Kitchen by Wolfgang Puck: As the first U.S. location of Wolfgang’s newest restaurant concept, The Kitchen features signature comfort food with a focus on quality, locally-sourced ingredients and innovative techniques.
• Cygnus27: Featuring Latin-inspired cuisine with a wide variety of flavors from Spain, Mexico and South America, this beautiful upscale restaurant offers the highest panoramic views of the Grand Rapids skyline.
• Ruth’s Chris Steak House: Famous for its exceptional food and wine, the restaurant serves the USDA prime steak, fresh seafood and a variety of other freshly made dishes – paired with an extensive wine list in an upscale environment.
• GP Sports Bar: Guests can enjoy a casual dining atmosphere with specialty burgers, pizzas and cocktails – complete with 40 televisions for watching sporting events.
• The Kitchen Counter by Wolfgang Puck: Guests looking for fresh, made-to-order options throughout the day can enjoy items such as the mushroom and spinach omelet with goat cheese or a seasonal salad made fresh with market vegetables, quinoa and champagne vinaigrette.
• Lumber Baron Bar: Settle into the warmth and charm of a historic bar – complete with fireplace leather club chairs and a large selection of premium drinks and appetizers.
• Garden Court Lounge: Guests seeking a leisurely morning breakfast brunch experience or a spot to unwind and relax in the evening with a fine glass of wine, premium beer or favorite cocktail fountain-side.
• Starbucks: Located in the lobby of the Pantlind building, travelers can choose from a selection of specialty coffee drinks, teas, sandwiches and bakery goods.

Amway Grand Plaza offers more than 47,000 sq. ft. of versatile meeting space, including 42 meeting rooms and four elegant ballrooms ranging from classic to contemporary. In 2014, Smart Meetings Magazine awarded the hotel the honor of “Best Ballroom in the Country” to the Ambassador ballroom. The historic hotel is a top wedding venue in the city and provides expert guidance, customized catering and special packages for couples’ special day. An additional 250,000 sq. ft. of meeting and exhibit space is available at DeVos Place Convention Center that is connected to the hotel through a climate-controlled skywalk.

Amway Grand Plaza, Curio Collection by Hilton participates in the Hilton HHonors® loyalty program, which is open to all guests and free to join. Visit here for enrollment information. HHonors members always get our lowest price with our Best Price Guarantee, along with HHonors Points, free standard Wi-Fi, and no hidden fees, only when they book directly through Hilton. To celebrate the hotel’s opening, members will earn double points on stays through June 15, 2016 when booking the best available rate. Gold and Diamond HHonors members staying at Amway Grand Plaza will receive a $15 per person food and beverage credit for up to two registered guests per room and space-available room upgrades.

Amway Grand Plaza, Curio Collection by Hilton is located at 187 Monroe Avenue NW, Grand Rapids, MI 49503. 

GOOGLE LAUNCHES APAC TRAVEL DASHBOARD

GOOGLE LAUNCHES APAC TRAVEL DASHBOARD 

Google has launched its APAC Travel Dashboard which tracks travel search queries on Google.com.

Said Simon Fiquet, head of global travel accounts at Google APAC, said, “We thought it would be great to share these insights with travel industry so we worked with our creative agency to build an interface to make it publicly available.”

The Dashboard was first launched in the US a few months ago.

“We hope the insights will help travel businesses plan for the season ahead, helping to inform strategic decisions across marketing campaigns and the rest of their business.

“For example, hotel owners could look at what countries are the top source for their country and how this is evolving, which could help them to allocate their marketing budget by country or distributor and well as spotting high and low seasonal demand. Likewise, Online Travel Agents (OTAs) could use this to help them find out which inventory they need to acquire for a particular country, depending on what is trending.”

Fiquet said the plan was to focus on updating the dashboard regularly, adding more features over time.

Park Inn by Radisson Brussels Airport to Open in Q1 2017

Park Inn by Radisson Brussels Airport to Open in Q1 2017

Rezidor announces the Park Inn by Radisson Brussels Airport in Belgium. The mid-scale property with 163 guest rooms is scheduled to open in Q1 2017. It is Rezidor’s second Park Inn by Radisson in Brussels, and brings the group’s total room count in the Belgian capital city to 4 hotels with 735 rooms in operation and under development.

“We are delighted to add an airport hotel to our growing portfolio in Brussels where also our corporate support office is located. Brussels Airport reports steady growth and serves 22 million passengers per year. It is surrounded by a dynamic corporate environment that offers additional business opportunities for the new Park Inn by Radisson”, said Wolfgang M. Neumann, President & CEO of Rezidor.

“This project is in line with our strategy to accelerate growth in European capital cities and to create Park Inn by Radisson clusters to leverage operational and commercial synergies while unlocking shareholder value to our partners”, added Elie Younes, Executive Vice President & Chief Development Officer of Rezidor.

The Park Inn by Radisson Brussels Airport will be located in the Diegem business district. A shuttle service will connect the hotel with the terminals that are 2.4km away. The building currently hosts offices – after conversion it will comprise 163 guest rooms, an all-day-dining restaurant and a lobby bar & lounge. 7 conference rooms, a business & crew lounge, a gym, and underground parking spaces will complement the offer.

“We look forward to partner with Carlson Rezidor Group to develop our first hotel. We strongly believe that our cooperation will be successful by filling the existing gap of quality mid-market hotels in the Brussels airport area”, commented representative Frank Cops of the owning company VDB Hotels.

Brussels has 1.8 million inhabitants and is a major centre for international politics: it is home to principle EU institutions and the NATO headquarters. Over the past decades, Brussels has positioned itself as one of the main business hubs in Europe, and hosts today 50,000 business of which 2,000 are foreign. Rezidor already operates the Radisson Blu Royal Hotel Brussels and the Park Inn by Radisson Brussels Midi, and develops the Radisson RED Brussels that is scheduled to open in April 2016.

The Park Inn by Radisson Brussels Airport will be operated by The Rezidor Hotel Group.

The toiletries war heats up at hotels

The Toiletries War Heats Up at Hotels

 When designing guest rooms at the Knickerbocker Hotel in New York City, choosing the right bathroom toiletries was just as important as choosing the right bedding. "It's a big deal if your bath amenity is bad," says Jeff David, managing director of the Knickerbocker, a historic Times Square building that re-opened as a hotel in February 2015. "It's almost like buying a Mercedes and the stereo is bad." Toiletries used to be an afterthought for hotels. If they offered guests a generic shampoo and bar of soap, their obligation was met. That's no longer the case in a world in which boutique and lifestyle hotels are trying to infuse personality into every aspect of the guest experience. The competition to provide amenities that will wow guests has turned fierce, and hoteliers say they are spending more time and effort to choose the right ones. In addition to providing even more types of toiletries — think facial foam and makeup remover wipes — hotels are customizing toiletries or even teaming up with celebrities to lend their names to bathroom products. "Every product, service or amenity a hotel provides impacts its branding, for better or for worse," says Chekitan Dev, a marketing and branding expert at Cornell University's School of Hotel Administration. "Bathroom amenities are typically not the reason a guest stays at a hotel but can play an important role in increasing satisfaction and repeat purchase." The factors that go into choosing toiletries can range from scent to bottle size to how eco-friendly they are to how well they appeal to different genders and age groups. "The psychology of an amenity is really interesting," David says. Over the course of two years, the designers of the eco-conscious 1 Hotels chain tried more than 100 brands of toiletries before deciding to create their own natural, paraben-free brand. The product team at Comfort Inn and Comfort Suites looked at 20 to 30 options before they too developed their own proprietary brand called RAIO, says Anne Smith, vice president of brand strategy for parent company Choice Hotels. Hilton Worldwide's staff typically tries out 15 to 20 different brands of toiletries before landing on the right one, says Cindy Patton, the company's senior director of product development. Most of the hotel companies declined to disclose how much they spend on bathroom amenities, but Smith says a Comfort brand hotel may spend from $7,000 to $13,000 on bath amenities per year. David says the Knickerbocker spends about $5 per room a day on amenities. Emilie Hoyt, founder and president of LATHER, a California skin care products line that has worked with hotels, says she won't offer discounts to lure clients. Instead, she develops products for special occasions or gifts for VIP guests. "When we have a great partnership with a like-minded property, it's a fantastic opportunity not only for them to offer products that appeal to their guests, but it's also a sampling opportunity for our brand," she says. "It's a win-win." The demand is there. A survey conducted by Hilton found that 52% of travelers use their shower amenities. "I think people are more in touch with well-branded luxury products and I think things can catch fire quicker through social media," says Kemper Hyers, senior vice president of design for Starwood Capital Group, which developed the Baccarat Hotel in New York. "This makes great amenities a real plus for a hotel." Hotels are particularly trying to appeal to business travelers, their most frequent and demanding customers. "Business travelers can be on the road for a long stretch at a time," says Paul Davis, senior vice president of strategic sourcing for Wyndham Worldwide, which earlier this year began introducing Matrix by L'Oreal at many of its hotels. "When you're away from home for that long, you want to use products that remind you of home or are more special than what you use every day." The types of toiletries a hotel offers sends a message about how it wants to be perceived, hoteliers say. For instance, the Ritz-Carlton is an established luxury brand, so when it sought out a new line of bath amenities in 2012, it went with Asprey, a British luxury goods house that dates back to 1781. Guests get a package of Asprey Purple Water shampoo, shower gel, conditioner and body lotion along with soap, shaving and dental kits. They've been so popular that guests commonly use one set of amenities per day, says Steven Holt, regional director of public relations for the Americas. The Baccarat Hotel created its own line of toiletries, working with renowned French perfumer Francis Kurkdjian on the scent. Ian Schrager, who developed the EDITION hotel in New York, wanted guests to feel that they were getting a bespoke product. So the hotel teamed with high-end perfumer Le Labo to create a custom scent for its toiletries. At Conrad Hotels and Resorts, guests can customize their preferences for toiletries via the Conrad Concierge mobile app. Among the options are Shanghai Tang's new line of Mandarin Tea products and vegan skincare products from Tara Smith Vegan Hair Care. Much like they've done with their restaurants, many high-end hotels now are teaming up with celebrities to create lines of amenities. The Knickerbocker got celebrity hairstylist Ted Gibson to design its bath amenities. Waldorf Astoria Hotels and Resorts has an exclusive partnership with fashion designer Salvatore Ferragamo. Some hotels are concentrating more on the environmental impact of their toiletries. Starwood Hotel and Resorts' specialty select brands, which include Element and Four Points, have dispensers in every shower. Before settling on that, they considered many factors, including whether or not shower gels would pump out with ease. "A lot of research went into making this decision and really the big question was, are guests open to using a dispenser for their bath products?" says Brian McGuinness, global brand leader of those brands. "Through trial, we found that they're very amenable to it." When the toiletries are a hit, hoteliers say they are glad to see their guests take them home with them. And in fact, many do. Hilton's recent survey showed that 73% of travelers leave with their bathroom amenities. More than 35% of business travelers said that they do. "It's a testament to the great guest experience delivered by the hotel when guests want to take a little part of that stay home with them," Smith of Choice Hotels says.

Hotel Reservations Are Becoming More Complicated, and Costly to Cancel - New York Times

Hotel Reservations Are Becoming More Complicated, and Costly to Cancel - New York Times

The deal on the website of Hilton Hotels & Resorts seemed like a good one to Jeffrey Buszkiewicz: A 72-hour online sale after Thanksgiving showed a $129 room at a Hilton Garden Inn in Manhattan for Christmas night. Two subsequent nights cost more. But there was a hitch. After he talked about it with his wife and was ready to book, the rate had increased by $40 a night when he logged on again the next day. “I assumed if the sale was on for 72 hours, the rate would be good for 72 hours,” said Mr. Buszkiewicz, fiscal officer for the Indiana University School of Education. Making hotel reservations used to be straightforward. Guests booked a room and could generally cancel without penalty until the day of arrival and short-term rental sites like Airbnb and HomeAway grow, experts say the reservations landscape is undergoing an upheaval with new and higher fees and new restrictions on reservations that are driving new sources of revenue. Last January, Marriott International and Hilton began requiring cancellation the day before arrival, rather than 6 p.m. the day of arrival. Guests forfeit the amount of the first night stay if they miss the deadline. “Hotel reservations have long been way too flexible,” Christopher K. Anderson, a faculty member at the Cornell University School of Hotel Administration, wrote in an email. They have been slow to become more restrictive because of competition, he added. Still, with the increasing presence of online travel agents like Expedia and Priceline, and the prevalence of day-of-stay deals delivered to mobile devices, hotel cancellations are becoming more common. “The traveler wants to be flexible, and needs to be flexible,” said Sam Shank, chief executive of Hotel Tonight, a mobile booking app started in 2011 that offers last-minute hotel deals. In 2014, it began allowing users to book a room seven days before check-in. Guests can book a stay of up to five nights. Mr. Shank said his plans change frequently, and the hassle of traveling and calling before the cutoff time for a cancellation is just one more task to remember. In mid-November, Hilton embarked on a pilot program that imposes a $50 cancellation penalty anytime after a reservation is booked. The test is scheduled to run 60 days in 24 Hilton-managed hotels. Hilton Honors loyalty members are exempt. Chris Silcock, an executive vice president at Hilton Worldwide, said the company was taking a measure of cancellation rates, adding that the penalty being imposed was “lower than airline fees” for changes. Still, the fees are helping the hotel industry’s bottom line. In a study released in August, Bjorn Hanson, a professor at the Tisch Center for Hospitality and Tourism at New York University, reported that a record level of fees and surcharges at hotels was anticipated in 2015, reaching $2.47 billion. That is up from $2.35 billion a year earlier. “With occupancy high, hotels are looking for other ways to increase revenue,” Mr. Hanson said. Guests may be more accustomed to nonrefundable fees than they used to be because Airbnb charges them. It currently charges a guest service fee of 6 to 12 percent of the total booking. The website says the fee covers the cost of running the company. HomeAway, which is being acquired by Expedia, said it expects to add a “traveler’s fee” averaging about 6 percent of the cost of a booking in the new year. Some guests are beginning to push back. Andrew Mitchell, the owner of a tutoring service in Los Angeles, is one. In trying to book a vacation rental on Airbnb, the room rental rates appeared to be competitive to hotels, but after selecting one in his price range, “I was hit with fees at the end,” he said. When the host did not respond to his request to book a reservation, he said Airbnb told him there would be a delay in receiving a refund after his credit card was charged. Mr. Mitchell decided to book a hotel room instead. “I had originally liked Airbnb because it was a transparent, quick and easy way to find local places to stay,” he wrote in an email. “It is now not transparent, and it’s definitely not quick or easy.” Airbnb may be trying to change that perception, at least among business travelers. In mid-November it initiated a separate hosting category designated the Business Travel Ready Badge. These accommodations will be an entire home or apartment and have Wi-Fi, a laptop-friendly work space, 24-hour check-in and other business amenities. Jon Liebtag, a business development lead at Airbnb, said he hoped the change would lead to more consistent booking for hosts throughout the year. Business travelers generally stay during the week, while leisure travelers stay on weekends. While it may seem the new cancellation penalties are making hotels less accommodating to guests, they are really protecting themselves against no-shows, according to Henry Harteveldt, founder of Atmosphere Research Group. “You don’t want to tell a guest you are sold out,” he said. Mr. Buszkiewicz ended up reserving the Hilton Garden Inn and then checked the rate again two weeks later. It was less, so he rebooked, the old-fashioned way, without a penalty. The chain said that hotels priced rooms as they usually would and offered a 30 percent discount off that rate. Still, he found the initial experience frustrating. “I just didn’t expect it,” he said.