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AAHOA

Update for Saturday, June 13

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.

 

AAHOA Board, Staff to Donate 8,500 Face Masks to Atlanta-Area Hospitals

On Friday, June 5, Georgia Regional Director Vik Zaver, AAHOA Lifetime Member Dylan Patel, and two AAHOA staff members, Dascia Freeman and Tiffany Pearce, had the honor of presenting Atlanta-area hospitals with face masks, donated on behalf of AAHOA, to help front-line workers as a part of the industry’s #HospitalityStrong campaign to shed light on the positive impact that the industry – and AAHOA Members – have on their communities and giving back. With more deliveries to take place in the weeks to come, AAHOA is committed to donating a total of 8,500 masks in support of the Hospitality Strong initiative. Thank you to Vik, Dylan, Dascia, and Tiffany for helping to make this critical contribution!

 

Lending Update from the SBA: Further Clarification on Five-Year Maturity with the PPP Flexibility Act

Tuesday, June 9, the SBA issued an update for borrowers and lenders clarifying that the maturity of all Paycheck Protection Program (PPP) loans based on the enactment of the Paycheck Protection Program Flexibility Act of 2020. Guidance states that the maturity of all loans approved on or after June 5, 2020, will be for five years. Loans approved and/or funded prior to June 5, 2020, with the two-year maturity may be extended by the lender and borrower mutually agreeing to a five-year maturity. Formal guidance on the changes to the CARES Act are forthcoming from the SBA.

 

Stay Informed on How to Protect Your Hotel with Our COVID-19 Webcast Series

In the wake of the impact of COVID-19 on the hospitality industry, AAHOA continues to bring the entire industry a series of webcasts that will keep you informed and help determine next steps for your business. We have educated more than 18,000 hoteliers to date and feature more than 110 webcasts separated by category in our library, a majority of which are available on demand. Email your ideas for future topics to COVID19@aahoa.com.
 

Businesses Seek Liability Shield from Congress As COVID-19 Lawsuits Pile Up

The fallout from the COVID-19 pandemic continues – but now on an entirely different front. More than 2,600 coronavirus-related lawsuits have been filed this year, according to the law firm Hunton Andrews Kurth LLP. More than 1,300 were filed in the past six weeks, prompting business groups to refocus almost all their lobbying efforts on securing liability protections from Congress. The U.S. Chamber of Commerce, one of the loudest voices in favor of a liability shield, is calling for Congress to pass legislation before July 4. But with Senate Majority Leader Mitch McConnell (R-KY) saying there won’t be any action until after the two-week July 4 recess, it isn’t likely to happen. Read more here and keep track of the lawsuits nationwide here.
 

Sullivan, Schatz, and King Introduce Visit America Act (S. 3831)

U.S. Senators Dan Sullivan (R-Alaska), Brian Schatz (D-Hawaii), and Angus King (I-Maine) recently introduced the Visit America Act S. 3831. Setting a national tourism target of 116 million annual foreign travelers to the United States by 2028, the bill will formally authorize the U.S. Travel and Tourism Advisory Board and create a high-ranking position within the Department of Commerce – of which the main focus will be boosting America’s travel and tourism industry. Additionally, this new legislation will require the development of a recovery strategy to help the travel and tourism industry better recover from COVID-19.
 

With $130 Billion of Remaining Funding for the PPP, AAHOA Encourages Hoteliers Seeking Relief to Apply for PPP Loans

As of Saturday, June 6, the SBA has approved more than 4.5 million PPP loans worth more than $511 billion, with an average loan size of $113,000. The “Accomodation and Food Services” sector represents 8% of total lending, with more than 344,000 loans valued at more than $41 billion. The report also notes that there’s still more than $130 billion of remaining funding. With the recent positive changes planned for the PPP and billions of dollars left for allocation, AAHOA would like to remind hoteliers that if they haven’t applied and are still seeking relief, to work with a lender to seek loans under the PPP. To learn more, visit the SBA’s website here.
 

Federal Reserve Expands Main Street Lending Program to Include More Small, Medium Businesses

The Federal Reserve Board on Monday expanded its Main Street Lending Program to allow more small and medium-sized businesses to be able to receive support. The Board lowered the minimum loan amount, raised the maximum loan limit, adjusted the principal repayment schedule to begin after two years, and extended the term to five years, providing borrowers with greater flexibility in repaying the loans. “The expansions… are designed to better meet the needs of small and medium-sized businesses,” U.S. Treasury Secretary Steven T. Mnuchin said in a statement. To learn more about the Main Street Lending Program, access U.S. Travel Association’s recently updated fact sheet, and make plans to attend the webinar, “Updates to the Main Street Lending Program” at 2 p.m. EDT Monday, June 15.
 

AAHOA Weighs in on Industry Priorities Ahead of this Week’s Committee on Small Business Hearing

On Wednesday, the Committee on Small Business held a hearing, “The Economic Injury Disaster Loan Program: A View from Main Street.” In advance of the hearing and on behalf of AAHOA Members, we met with members of the Small Business Committee to discuss priorities and frustrations with the EIDL program. In a letter sent to Chairwoman Velazquez and Ranking Member Chabot in advance of the hearing, AAHOA summarized these points including how it remains a source of considerable frustration that there has been no announcement as to when the agricultural-only loan window will close or when other small businesses may begin to apply.
 

International WELL Building Institute Announces WELL Health-Safety Rating for Hotels and Resorts

The International WELL Building Institute (IWBI), the world’s leading certification body for healthy buildings, on Thursday announced the establishment of the WELL Advisory for Hotels and Resorts to provide insights on the application of the WELL Health-Safety Rating for Facilities Operations and Management for hotels and resorts. AAHOA is proud to serve on the WELL Advisory Board that helped to establish the program. “This is an opportunity for property owners and operators to extend their work with third-party documentation review, which is a critical step in verifying the adoption of these practices,” said Michael Dominguez, CEO of ALHI. Hoteliers who are interested in the WELL Health-Safety Rating can register here.
 

This Week’s Can’t-Miss Virtual Event – Owning and Operating Hotels in a Post-COVID-19 World: A Conversation with Marriott

On Thursday, AAHOA hosted a can’t-miss virtual event, Owning and Operating Hotels in a Post-COVID-19 World: A Conversation with Marriott, where AAHOA Treasurer Vinay Patel, Washington DC Area Regional Director Sandip Patel, Marriott SVP, Owner & Franchise Services Karen Finberg, and Marriott Chief Development Officer Eric Jacobs detailed the changes they're making. Moderated by HotStats Director of Hotel Intelligence, Americas, David Eisen, the panel discussed what they're doing to tackle the challenges now and ahead to succeed in this strange new landscape. View it on demand.