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AAHOA

Update for Thursday, June 18

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

  • SBA and Treasury: Updated loan forgiveness applications and instructions released
  • IH Virtual Event: Independent hotels must create their own cleaning guidelines
  • ICYMI: AAHOA President & CEO featured on ALIS 6x8 webinar
  • Webcasts: Register now for next week's COVID-19 offerings
  • STR: Hospitality industry slowly but surely clawing its way back
  • HotStats: How rooms-only business impacts a U.S. break-even analysis
  • #AAHOASTRONG: Lifetime Members Vimal Patel and Parth Patel visit the No Vacancy Podcast
 

SBA, Treasury Release Updated Loan Forgiveness Applications and Instructions
Yesterday, the Small Business Administration and the U.S. Treasury Department released updated loan forgiveness applications and instructions as well as a new Interim Final Rule. SBA Administrator Jovita Carranza also released a letter regarding underserved communities.
For more information and updates, visit
SBA.gov/PaycheckProtection or Treasury.gov/CARES

 

AAHOA Independent Hoteliers Virtual Event: Cleaning Guidelines

Mark your calendars for an Independent Hoteliers Virtual Event to take place at 3 p.m. EDT on Friday, June 26 on cleaning guidelines. Speakers will include AAHOA Independent Hoteliers Committee Chair Komal (Tina) Patel; AAHOA Vice Chairman Biran Patel; and Kevin Shields, Regional General Manager, Kessler Collection. While branded properties will follow corporate guidelines, independent hotels are being challenged with creating their own playbooks.

Join this event for an in-depth assessment of how independent hotels are embracing the “new normal” and learn the best practices for keeping your hotel clean during this time. Submit your questions in advance here.

 

ICYMI: AAHOA President & CEO Featured on ALIS 6x8 Webinar
AAHOA President & CEO Cecil P. Staton was among the featured speakers at ALIS 6x8: Recovery Top of Mind Episode 2 on Wednesday. Cecil and other industry professionals discussed what is top of mind in the hospitality industry and how they would tackle the issues of the day with an eye on the industry’s recovery. The ALIS 6x8 series is a fast-paced complimentary series of 8-minute conversations hosted by The BHN Group that addresses issues concerning the hospitality industry.

 
virtual

STR: Hospitality Industry Slowly But Surely Clawing Its Way Back
U.S. hotel performance data ending June 13 showed another small rise from previous weeks and less severe year-over-year declines, according to the latest STR report. “Powered by the slow and steady rise in weekly demand, the industry clawed its way above 40% occupancy,” Alison Hoyt, STR’s senior director, consulting and analytics, said. “That was still down substantially from the comparable week last year (73.6%) but an obvious improvement from the country’s low point in mid-April.” Read the full report here.

 

HotStats: How Rooms-Only Business Impacts a U.S. Break-Even Analysis

In May, HotStats published one of its most highly engaged with pieces of content, “Analysis: At What Occupancy Rate Can a Hotel Break Even?” The analysis drew on data pertaining to the occupancy rate a hotel needed to achieve break-even profit and based the results on total revenue — room sales supplemented by food and beverage sales and other ancillary revenue streams. But with the onset of the coronavirus pandemic, restaurants and soas, etc., are being avoided. So, HotStats has tweaked its input and run a new break-even analysis.

virtual

No Vacancy Podcast: A Chat with AAHOA Lifetime Members Vimal Patel and Parth Patel

Hotel owners are suffering! That’s the message AAHOA Lifetime Members Vimal Patel and Parth Patel share with Glenn Haussman on this episode of the No Vacancy Podcast. Vimal, CEO of Q Hotels, and Parth, President of Development, VIPA Hospitality, spoke on the problems hoteliers are having with the CMBS loans, operational concerns, the closing of hotels caused by the COVID-19 pandemic, the truth about franchisor/franchisee relationships, and more. Their interview begins at the 37:30 mark of the video.