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AAHOA

Update for Thursday, June 4

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
 

  • PPP: Senate passes PPP Flexibility Act with unanimous consent
  • WSJ: Hotel owners getting scant relief if their mortgage is owned by Wall Street
  • Op-Ed: AAHOA President & CEO calls for liability protections for hotel owners
  • Stay Safe: Updated guidelines released to the industry yesterday
  • Tomorrow’s Webcast: Anthony Melchiorri, AAHOA YP Directors explore expert and millennial perspectives on reopening hotels
  • AAHOA Virtual Event: A conversation on recovery next week with Marriott and Hilton
  • Hotel Optimization: AAHOA Officers share insights on how to get back to profitability in next week’s virtual event
  • Article: Winning trust and creating safe havens post-COVID-19
  • HotStats: Is your hotel ready to thrive when it's time to reopen?
  • Chamber Poll: Nearly 8 in 10 small businesses now fully or partially open
 

House and Senate Passage of Paycheck Protection Program Flexibility Act

Yesterday evening, the Senate passed critical bipartisan legislation with unanimous consent that will make favorable changes to the PPP. You sent letters to our congressional representatives, and they listened. AAHOA is urging President Trump to sign this bill into law. The PPP Flexibility Act gives small businesses more time to use their PPP loans by extending the period in which they have to use the funds to qualify for loan forgiveness; changes the ratio of payroll costs limits; and allows businesses that receive PPP loan forgiveness to defer payroll taxes.

 

AAHOA Treasurer, Lifetime Member Share Struggles with CMBS Loans in the Wall Street Journal

For hotel owners with mortgages owned by Wall Street investors, times are especially tough. In a recent article published by The Wall Street Journal, AAHOA Treasurer Vinay Patel and AAHOA Lifetime Member Danny Gaekwad shared their personal experiences with CMBS loans. According to the article, only 20% of hotel owners with loans that have been packaged and sold to investors have been able to adjust payments in some form during the pandemic, vs. 91% of hotel owners who borrowed from banks.

AAHOA has been working with members of Congress and the Trump administration to seek help for hotel owners with CMBS loans. Recently, Treasury Secretary Steven Mnuchin also acknowledged the issue and suggested he might work with lawmakers on a fix. “We live in fear every single day,” Danny Gaekwad said.

Op-Ed: AAHOA President & CEO Calls for Protections for Hotel Owners As We Emerge from the Pandemic

In an op-ed article published today by the Atlanta Business Chronicle, AAHOA President & CEO Cecil P. Staton shares how hotel owners have been impacted by the pandemic and what is likely to be their next greatest anticipated threat: the promise of costly COVID-19-related lawsuits. As small business owners and hoteliers are playing their part to get America on the road to recovery – creating jobs and revitalizing their operations – they should not have to worry about whether public health guidelines open them up to costly lawsuits.

“That is why it is critical for Congress and the Georgia General Assembly to do as previous lawmakers did in times of crisis and provide limited safe harbors from liability as we emerge from this pandemic,” Staton said.

 

AHLA Releases Updated Stay Safe Guidelines

Yesterday, AHLA released an updated version of their Safe Stay Guidelines as reopening efforts continue across the country. The updated guidelines, developed by an Advisory Council that AAHOA is proud to serve on, were based on recently released guidance and direct feedback from the Centers for Disease Control and Prevention (CDC), and input from public health and safety experts. The new updates include an updated introduction letter highlighting the broad endorsements from leading hospitality industry organizations and partner state associations and updated text for the following sections: health checks, housekeeping protocols, single-use items, ventilation/water systems, and hazard assessments.

Hotel Owners & Conquering COVID: Preparing Your Hotel from a Young Professional Hoteliers View

The economy is slowly reopening and hotels are preparing for operating business with new guidelines. If you’ve seen Anthony Melchiorri on Hotel Impossible, you know he is all about finding solutions. Join us at 1 p.m. EDT tomorrow for Hotel Owners & Conquering COVID: Preparing Your Hotel from a Young Professional Hoteliers View. Anthony will share his own expertise and also get the millennial perspective from Young Professional Directors Purvi Panwala and Miraj S. Patel, and ALKO VP Dhruti Patel on what hotels can do to make the process a success. Register now.

 

Owning and Operating Hotels in a Post-COVID-19 World: A Conversation with Marriott and Hilton
The COVID-19 pandemic has radically altered the way the hotel industry has to service guests, staff properties, and transact deals, and brands and owners alike have had to adjust. Join us at 2 p.m. EDT Thursday, June 11 for a virtual event, Owning and Operating Hotels in a Post-COVID-19 World: A Conversation with Marriott and Hilton, as AAHOA Treasurer Vinay Patel; Washington, DC Area Regional Director Sandip Patel; Marriott SVP, Owner & Franchise Services Karen Finberg;

and SVP, Global Head of Hampton by Hilton Shruti Buckley detail the changes they're making. Moderated by David Eisen, Director of Hotel Intelligence at HotStats, the panel will discuss what they're doing to tackle the challenges now and ahead to succeed in this strange new landscape. Email your questions in advance to franchise@aahoa.com.

 

Register Now: Hotel Optimization Free Virtual Event – Where Do We Go from Here?

Now that the economy is steadily on the path to reopening, many hotel owners are wondering how they are going to get back to profitability in the “new normal.” Join us June 9-11 for Hotel Optimization, a three-day virtual event developed in partnership with AAHOA, to gain clear insights, opinions, and forecasting to help you better understand your options of getting back to profitability. Chairwoman Jagruti Panwala, Vice Chairman Biran Patel, Treasurer Vinay Patel, and President & CEO Cecil P. Staton will all be on hand to share their insights on top top-of-mind topics. Register for free now.

 
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Article: Winning Back Trust and Creating Safe Havens Through Effective Communication

A recent article published on Hospitality Net by EHL Group, a hospitality management education and innovation company, shares tips on how the lodging industry can build and regain trust with employees and customers with transparency and open communication channels. The article shares tips on how to have an effective communications strategy, staying flexible with bookings and cancelations, reconfiguring operations, and preparing for the bounce-back.

 
virtual

HotStats: How to Make Sure Your Hotel Is Ready to Thrive When It’s Time to Reopen
The COVID-19 pandemic has decimated the U.S. economy, especially the hospitality industry. Even so, people will eventually emerge from the wreckage and start traveling again. But even when that happens, the landscape will be drastically changed. The effects of the pandemic will linger and color travelers’ decisions. Is your hotel ready? HotStats has come up with some steps hoteliers can take now to prepare for higher hotel profit in a post-COVID economy.

 

Chamber Poll: Nearly 8 in 10 Small Businesses Now Fully or Partially Open

There are signs of optimism and hope on the horizon for the nation’s economy. The Chamber on Wednesday released the latest findings from its third monthly Small Business Coronavirus Impact Poll, which reveals that small business owners are feeling slightly more optimistic in their economic outlook. Key findings include: Nearly 8 in 10 small businesses are either fully (41%) or partially (38%) open; 55% of small businesses believe it will take 6-12 months before the business climate

returns to normal, up from 50% last month and 46% two months ago; 43% of small business owners say they are “very concerned” about the impact of COVID-19 on their business, down 10% from a month ago, and down 15% from two months ago. Click here to read the press release on the survey findings.