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AAHOA

Update for Wednesday, June 3

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
 

  • CMBS: Delinquency rate sees largest monthly jump ever in May
  • Webcast: Tomorrow, Industry Leaders talk recovery of the hospitality industry
  • Listening Session: Reps. Virginia Foxx and Fred Keller give an exclusive update to AAHOA Members
  • Virtual Event: Exclusively for independent hoteliers, explore what it will take to survive post-pandemic
  • Revival Guide: Hospitality consultant hopes to inspire owners to “rebuild, refresh, redesign, and reopen” a little differently
  • Highland Group Report: Extended-stay hotels continue to show resilience
  • Survey: Americans’ first trip will be to visit family or friends
  • Data: STR’s U.S. Hotel results for week ending May 30

 

CMBS Delinquency Rate Records Largest Monthly Jump Ever in May 2020

As a result of the COVID-19 pandemic, many industry onlookers were looking to see by how much CMBS loan debt figures would increase. The stats released in May, however, were surprisingly larger than expected, according to Trepp research firm. Back in April, Trepp’s CMBS Delinquency Rate stood at just 2.29%, jumping to 7.15% of loans missing their payment in May. Specifically, loan delinquencies within the hotel industry stood at closer to 20%, higher than the industrial, multi-family, office, and retail sectors.

Tomorrow: Join Hospitality Industry Leaders for a Conversation on Recovery

As hotels begin the complex process of reopening post-COVID-19, there are all kinds of new guidelines and processes they will have to adhere to. But how are they preparing? What is the industry saying?
Join us at 4 p.m. EDT Thursday, June 4 for
Hotel Owners & Conquering COVID: Another Helpful Conversation on Recovery to find out.

A panel of high-level industry executives, including AAHOA President & CEO Cecil P. Staton, AHLA President & CEO Chip Rogers, TLTsolutions Managing Partner Tracy Prigmore and Integrated Capital Managing Member Kenneth Fearn will discuss how hotel owners are managing through this and things we can think about as we look to recovering in a post-COVID-19 market. The panel will be moderated by Kat Mohammed, AAHOA Director of Education. Register now.

 

Tomorrow’s Listening Session with Reps. Virginia Foxx (R-NC-05) and Fred Keller (R-PA-12)
Join us at 2 p.m. EDT Thursday, June 4 as Reps. Virginia Foxx (R-NC-05) and Fred Keller (R-PA-12) give AAHOA Members an exclusive update on movements within the U.S. House of Representatives with regards to COVID-19 relief and recovery. Foxx and Keller both sit on the Education and Labor Committee (Foxx is the ranking member) and the Oversight and Reform Committee. Both committees are key to AAHOA’s legislative priorities. Foxx and Keller will discuss the rapidly changing policy landscape as it relates to COVID-19 and what we can expect over the next few months. Learn how to join the call here.

 


What Will It Take for Independent Hoteliers to Survive in Post-COVID-19 America? Join Us Tomorrow to Find Out
Join us at 3 p.m. EDT Thursday, June 4 for AAHOA Independent Hoteliers Virtual Series: Survival of the Fittest. Be on hand as AAHOA Vice Chair Biran Patel, AAHOA Northwest Ambassador and Independent Hoteliers Committee Chair Komal (Tina) Patel, and Guest Trends, Inc. President Stephen Lewis discuss what it is going to take to survive the worst global pandemic the hospitality industry has ever experienced. Check out our Virtual Events page to learn how to attend.

 
virtual

Bar & Restaurant Revival Guide Aims to Inspire Owners to Think Differently Post-Pandemic
Hotels that have restaurants and bars face an even greater challenge when it comes to reopening post-pandemic. There likely will be a dizzying and constantly evolving array of new health code protocols and post-COVID requirements that will have to be adhered to. To help out, Barmagic’s Tobin Ellis, a former bartender, hospitality consultant, and ops manager, has compiled a Bar & Restaurant Revival Guide that he hopes will “inspire you to rebuild, refresh, redesign, and reopen your bar, restaurant, cafe, or eatery just a little better, a little differently.”

 
virtual

Highland Group Report: Economy Extended-Stay Strong in April

As has generally been the case throughout the COVID-19 pandemic, extended-stay hotels continued to show resilience during the first full month of the crisis. According to The Highland Group’s “U.S. Extended-Stay Lodging Bulletin: April 2020,” RevPAR declined 18% to $29.78 for economy extended-stay hotels during the month, while mid-price saw 55.8% declines and upscale dropped 76.3%. Get full reports here.

 

Stats: Americans’ First Trip Will Be to Visit Family or Friends

Family and friends will be the big winners when stay-at-home orders and other travel restrictions are lifted. According to a survey by ValuePenguin, 61% of Americans say visiting family (47%) and friends (14%) is at the top of their to-do list. Also, a small number of consumers are already considering their next vacation, mainly seeking out potential destinations (17%), flight routes (14%) and hotels (10%), though very few have begun looking into restaurants or entertainment options.

 

STR: U.S. Hotel Results for Week Ending May 30

STR data ending with May 30 showed another small rise from previous weeks in U.S. hotel performance. Year-over-year declines remained significant although not as severe as the levels recorded previously. “A seventh consecutive week of higher demand and occupancy was highlighted by three submarkets actually showing positive year-over-year occupancy comparisons for the weekend,” said Jan Freitag, STR’s senior VP of lodging insights.

 

May 24-30, 2020 (percentage change from comparable week in 2019):

  • Occupancy: 36.6% (-43.2%)
  • ADR: $82.94 (-33.3%)
  • RevPAR: $30.34 (-62.1%)