Visit www.aahoa.com/covid-19 for the latest info
Click here if you are having trouble viewing this message.
AAHOA

Update for Saturday, April 25

AAHOA is bringing you the latest information as it relates to COVID-19 and your business.

Help AAHOA help hotel owners by sharing this update with owners in your network, whether they're AAHOA Members or not. Turn to AAHOA's Facebook, LinkedIn, and Twitter accounts for the latest.

CONTENT FOUND IN THIS UPDATE

  • Updates: The latest news on the PPP
  • Guidance: How to calculate maximum loan amounts for the PPP
  • Survey: Share your feedback on the PPP
  • For Employers: State-by-state COVID-19 issues to consider from Fisher Phillips
  • Webcasts: Can’t-miss webcasts coming up next week
  • ICYMI: This week’s launches, videos, and new resources from AAHOA
  • On-Demand: Chase’s Friday webinar on well-being with Deepak Chopra
  • Interview: Tax policy issues discussion with Real Estate Roundtable
  • #AAHOASTRONG: Wyndham CEO recognizes generosity of AAHOA Member
 

The Latest on the Paycheck Protection Program
"The Small Business Administration will resume accepting PPP loan applications on Monday, April 27 at 10:30 AM EDT from approved lenders on behalf of any eligible borrower," wrote U.S. Treasury Secretary Steven T. Mnuchin and Administrator of the Small Business Administration Jovita Carranza in a joint statement issued on Friday. "This will ensure that SBA has properly coded the system to account for changes made by the legislation."

"We encourage all approved lenders to process loan applications previously submitted by eligible borrowers and disburse funds expeditiously," the statement continued. Borrowers should carefully review PPP regulations and guidance and the certifications required to obtain a loan."

According to an article in The Washington Post, some bank executives say they are preparing for the money to run out within 48 hours and are planning to stay up all night once the SBA begins retaking applications.

“It could be a burn rate of $30 [billion], $40 billion a day with all of the loans already in the pipeline,” said Paul Merski, an executive vice president at Independent Community Bankers of America. “Everyone has applications in hand that are ready to go into the pipeline,” he said. “If it took two weeks last time to go through the entire $349 billion, I would be certain that it would take less than two weeks to get through the system this time.”

 

Guidance from SBA, Treasury on How to Calculate Maximum Loan Amounts
Yesterday, the Treasury Dept. released new guidance for how to calculate maximum loan amounts by business type. The SBA is providing this guidance to assist businesses in calculating their payroll costs for purposes of determining the value of a PPP loan businesses can apply for. Borrowers and lenders may rely on the guidance provided in this document as SBA’s interpretation of the CARES Act and the Paycheck Protection Program Interim Final Rules.
Read the New Guidance

 

Share Your Feedback on the Paycheck Protection Program
To most effectively advocate on your behalf, AAHOA is collecting information from our members regarding the Paycheck Protection Program (PPP) created under the CARES Act. Please take a moment to fill out this quick survey. Your thoughts on the application process would be much appreciated. They will help guide our outreach efforts to the appropriate elected officials and agency employees.
Take the Survey Now

State-by-State COVID-19 Issues to Consider for the Private Sector
The Fisher Phillips COVID-19 Taskforce developed the following chart to provide businesses with answers to commonly asked questions regarding COVID-19 issues on a state-by-state basis. This information continues to change rapidly, so please check back regularly for the latest. This summary document is intended for general business information purposes only. It is not a complete or all-inclusive explanation, and it should not be construed as legal advice on any specific facts or circumstances. Numerous regulations, interpretations, and other authorities must be evaluated in applying these principles.
State-by-State COVID-19 Issues to Consider for the Private Sector Chart (Updated 4/20/2020)

Hotel Owners & COVID-19: Making Pricing Count
Time: 1-1:30 p.m. EDT, Tuesday, April 28
Presenters: Steve Green, Sr. Director, Account Management, IDeaS Revenue Solutions; Jeff Hall, Client Relationship Manager, IDeaS Revenue Solution

Taking a strategic approach to pricing is critical as decisions made today will impact performance well into the future. Striking the right balance to maintain an edge over the competition while capturing profitable returns is more essential now than ever as we plan for business to return when travel resumes. Attend this webinar to learn how hotel owners can make more data-driven decisions, develop an approach to key market segments, and understand the role your competition plays in your strategy development.
Register Now

Hotel Owners & COVID-19: Virtual Networking for Business Growth
Time: 11-11:30 a.m. EDT, Thursday, April 30
Presenters: David Mitroff, Ph.D., CEO & Founder; Chief Consultant, Piedmont Avenue Consulting, Inc.


Networking is critical for any business to grow and expand. Many industry conferences and events have canceled or postponed due to COVID-19. As a result, in-person networking opportunities have become dismal, which has opened the door even wider for virtual opportunities. What if you could create 50 percent more opportunities from the contacts you already have? Attend to learn how you can leverage the internet and social media to expand your professional and personal brand.
Register Now

Hotel Owners & COVID-19: A Conversation on Recovery
Time: 1:30-2:30 p.m. EDT, Thursday, April 30
Presenters: Cecil P. Staton, President & CEO, AAHOA; Chip Rogers, President & CEO, AH&LA; Mehul Patel, Chairman & CEO, NewcrestImage; Mit Shah, Founder & CEO, Noble Investments; Kat Mohammed, Director of Education, AAHOA

The industry continues to evolve because of the impact of COVID-19. With data experts looking at a peak in the coming weeks, is the conversation of recovery almost in sight? Hear from a panel of influential hospitality association CEOs and hotel owners on what the industry is saying, how hotel owners are managing through this, and things we can think about as we look to recovering in a post-COVID-19 market.
Register Now

Available On-Demand: “Measuring the Well-Being of Your Business” Featuring Deepak Chopra
Miss yesterday’s event? Friday, Chase hosted a webinar featuring Deepak Chopra, where he addressed the five areas of well-being, ways to measure how your business is doing, and practical tools to increase resiliency. The event is now available for on-demand viewing.
Watch Now

 

Real Estate Roundtable Tax Policy Issues Discussion
In this recent video interview, Real Estate Roundtable President & CEO Jeff DeBoer and Senior Vice President & Counsel Ryan P. McCormick discuss tax policy issues associated with the COVID-19 pandemic, including those in the CARES Act. They describe several of the actions the Treasury Department and the Internal Revenue Service have taken to provide relief and ease cash flow challenges for real estate businesses and their tenants, and they share insight on remaining COVID-19-related tax priorities for the real estate industry.
Watch the Interview

virtual

Wyndham CEO Recognizes an AAHOA Member in “Stories from the Frontlines” Video Message
A new video message from Wyndham President & CEO Geoff Ballotti recognizes the incredible work and inspiring stores of kindness, compassion, and generosity taking place all over the globe. AAHOA Ambassador and Lifetime Member Vibhu Joshi, with the help of friends and family, handcrafted more than 2,000 face masks for medical centers and nursing homes.

Thank you to Geoff for recognizing the incredible work of hoteliers and to Vibhu and family for stepping up in your communities in times of need.
Watch the Video