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AAHOA

Update for Friday, June 26

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.

Earlier this week, after much thought and consideration, we announced the AAHOA 2020 Convention & Trade Show will be held virtually. The recent guidelines issued by the Florida Department of Health led us to this difficult decision, but I have utmost confidence that we will deliver an excellent event for all of our AAHOA Members and the industry in August. At AAHOA, we are dedicated to providing attendees with a world-class, safe, and can’t-miss experience – whether for virtual experiences or those that are traditionally in person. More details regarding our virtual Convention & Trade Show will be available in the coming weeks, and I look forward to connecting with you all during the event.

On the legislative front, we are now seeing Congress rally together on the issue of CMBS loans. Nearly 100 members of Congress signed onto this bipartisan letter to the U.S. Department of the Treasury, addressing the difficulties borrowers with CMBS loans are facing in light of the pandemic. Our advocacy team and many of our standout AAHOA Members have been communicating with Representatives and Senators about the CMBS loan environment, and we are confident that a solution will come of these efforts. Also, on Wednesday I spoke out on Fox News to discuss our advocacy initiatives, CMBS loans, and the future of travel in America. You can watch the interview here.

 

AAHOA is here for you, and I want to thank you all for communicating and working with us as we lead our industry during these challenging times.

 

Cecil P. Staton

AAHOA President & CEO

Hurry! Don’t Miss Out on Exclusive Deals, Discounts, and Resources from AAHOA’s Industry Partners

Hoteliers all over the nation are prepping their properties for the welcome return of guests and employees. To help in that endeavor, AAHOA’s Industry Partners are offering exclusive discounts, promotions, and resources designed with our members in mind. Hurry over to our Exclusive Deals page to learn more about the members-only deals available from AAHOA’s Industry Partners. New deals are added each week. We’re sure you’ll find some that are just right for you!

 

USTA Releases Toolkit of Resources to Help Americans Travel with Confidence

Travel today looks very different from before. Four in 10 Americans are still feeling uncertain about traveling, and 63% are looking for enhanced cleaning protocols when they do decide to take a trip. Improving visitor certainty around health and safety is the first step to getting Americans moving again. When travel businesses, residents, and visitors all do their part, Americans can Travel Confidently. This week, U.S. Travel released a suite of resources centered around this theme, including infographics, social media materials, sample digital ads, and more that showcase our entire industry's commitment to keeping travelers and their families safe and healthy at every point in the travel journey.

 

AAHOA/AHLA Legislative Action Summit Canceled Due to Restricted Access to Officials, COVID-19 Pandemic

The AAHOA/AHLA Legislative Action Summit, set for Sept. 16-17 in Washington, D.C., has been canceled due to the closure of public access to lawmakers and ongoing concerns about the health and safety of attendees. While this very important annual event has been canceled, our advocacy work doesn’t ever stop. And in this new landscape, it’s more important than ever to make your voices heard and share your stories with your representatives. Hence why it’s so important to answer AAHOA’s calls to action on legislative priorities and participate in advocacy efforts from the comfort of your office or home.
 

ICYMI: Topics for Young Professionals, Women Hoteliers, and a Conversation with G6

All now available on-demand, this week AAHOA hosted a series of virtual events to bring hoteliers the latest information related to recovery and COVID-19. On Wednesday, AAHOA brought you AAHOA Young Professional Hoteliers Virtual Event: Advocacy Updates, Getting Involved, and the PPP. On Thursday, we discussed self-care in Maintaining Health and Wellness Through the Pandemic, and we spoke with G6 executives in How the Economy Hotel Segment Survived COVID-19: A Conversation with G6 and Owners.

 

Paycheck Protection Program (PPP) Net Lending Update

The SBA recently released updated data for its PPP funding approvals, which reveals approval figures through June 20. According to the summary, approved loans during this period stood at more than 4.6 million with an average loan size of $110,000. Accomodation and Food Services comes in at the No. 5 industry sector to receive the most loans, valued at more than $41 billion with more than 350,000 loans. With more than $128 billion in funding remaining, AAHOA encourages hoteliers who have not yet applied to work with their preferred lender to complete the new PPP Application (revised June 16) and review loan forgiveness considerations.

 
 

Mark Your Calendars: How the Economy Hotel Segment Survived COVID-19: A Conversation with Red Roof and Owners

Join us next week at 2 p.m. EDT Tuesday, June 30 for How the Economy Hotel Segment Survived COVID-19: A Conversation with Red Roof and Owners where we’ll examine how and why the economy and extended-stay segments fared better than all others during the COVID-19 pandemic. AAHOA Treasurer Nishant (Neal) Patel will be joined by Red Roof CDO Phil Hugh and Franchise Owner Atul Patel on a panel moderated by David Eisen, HotStats Director of Hotel Intelligence, Americas. Email your questions in advance to franchise@aahoa.com.
 

AAHOA Statement: America’s Hoteliers See Hope for CMBS Relief

This week, AAHOA expressed optimism for the prospect of relief for borrowers with commercial mortgage-backed security (CMBS) loans after nearly 100 members of Congress sent a bipartisan letter to Treasury Secretary Steve Mnuchin and Federal Reserve Chairman Jerome Powell asking them to create a relief fund for CMBS borrowers and to use their authority to grant broad assistance to the commercial real estate sector. AAHOA has served as a resource to U.S. Representatives Van Taylor, Al Lawson, Jr., Andy Barr, and Denny Heck, who address in the letter the complexity of CMBS loans, the difficulties of loan modification, and the market instability a wave of CMBS loan defaults could cause.
 

AAHOA President & CEO Speaks Out on Fox Business

On Wednesday, AAHOA President & CEO Cecil P. Staton appeared during an exclusive interview on Fox Business' Cavuto: Coast to Coast on Tuesday. "We're in a very difficult moment, perhaps the worst moment for our industry – the hotel industry – in our lifetime," Staton said. He also spoke on CMBS loans and AAHOA's advocacy work to get regulatory relief and forbearance that will allow hoteliers to hold on. "This is a huge issue, and if not addressed, is going to lead to some very serious consequences in the months to come with these things continuing to inhibit travel around our country," he said. You can watch the full interview here.
 

AAHOA Announces that the 2020 AAHOA Convention & Trade Show Will Now Be a Virtual Event

On Tuesday, AAHOA announced its 2020 Convention & Trade Show will not proceed in person due to new health and safety guidelines for combatting COVID-19 issued by the Florida Department of Health (DOH) on Saturday, June 20. AAHOA’s annual convention and trade show is one of the largest gatherings of hotel owners, hospitality industry leaders, and vendors in the country, and the virtual convention will be no exception. Details about registration and the virtual event will be made available through AAHOA.com in the coming days. Stay tuned.