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AAHOA

Update for Friday, July 10

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.

Last weekend, President Trump signed a bill to extend the bipartisan Paycheck Protection Program (PPP) through August 8. AAHOA applauds Congress for finding common ground to extend the highly successful $520 billion program, and we hope to see continued collaboration when the House and Senate return to D.C. for voting days on July 20.

 

With Commercial Mortgage Backed Security (CMBS) delinquencies closing in on all-time highs, AAHOA remains focused on seeking legislative relief for our members with CMBS loans.

AAHOA has been shining the light on the CMBS loan landscape, both in private meetings with lawmakers and in the press. I’d encourage you to check out AAHOA Member Digvijay (Danny) Gaekwad’s media hits and read up on a piece published in Today’s Hotelier by Rushi Shah, principal and CEO of AAHOA Club Blue Member Mag Mile Capital, to learn more about the issue.

 

The ALIS Summer Update Series has gone virtual due to the spike in COVID-19 cases, with the event kicking off on Monday. AAHOA Chairman Biran Patel will be a featured panelist in both the Nashville (July 16) and Dallas (July 20) events, and I will be joining him as a panelist for the event on July 16. You can register for these events and other programs in the series at no cost by following this link.

 

In addition, AAHOA is making preparations to open registration for AAHOACON20, which is now a virtual event, next week. I’m looking forward to bringing our industry and association together for this can’t-miss three-day event.

 

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

ALIS Summer Update Series Converts to Virtual Event in Response to COVID-19

The ALIS Summer Update Series is being converted into a virtual series, with the leadoff event being New York on July 13. AAHOA Chairman Biran Patel will be a featured panelist in both the Nashville (July 16) and Dallas (July 20) events, the former of which AAHOA President & CEO Cecil P. Staton will moderate. To participate, you will have to register for each webinar individually. Announced this week, registration for the ALIS Summer Update virtual series is now free, so register for as many programs as you would like.

 

No Vacancy Podcast: Biran Patel on His Role As AAHOA Chairman

How do we get travel tourism back and how do we bring the workforce back are the two main issues facing hoteliers today. So said AAHOA Chairman Biran Patel during his recent appearance on the No Vacancy Podcast with Glenn Haussman. “We need to try to get back to pre-COVID-19 revenue and numbers,” Patel said. “It’s a tough time.” Patel also said marketing through social media, websites, and brand partners will be critical in reassuring travelers that it’s safe to do so. The AAHOA Chairman also touched on OTAs, the Paycheck Protection Program, and how supporters can help get behind the industry to help them all move forward together during the interview. Hear the full podcast here.
 

Charlotte Charity Golf Tournament Will Be AAHOA's First Live Event in Several Months
Join North Carolina Regional Director Akshat Patel and local host Jay (Trini) Patel at the 2020 Charlotte Charity Golf Tournament on August 1-2 at The Golf Club at Ballantyne in Charlotte, AAHOA's first in-person event in several months. The tournament is being held on one of North Carolina's premier courses and will benefit 11 charities. Because the well-being, health, and safety of all attendees is AAHOA's No. 1 priority, all necessary precautions are being taken to provide a safe environment. Register today as a player or sponsor and help make an impact.

 

CMBS Delinquency Rate Surges for the Third Month; Nears All-Time High

At one point in June, it appeared that a new all-time high for CMBS delinquencies would be reached. However, when the final numbers were posted, the July 2012 high remains the peak for the time being (10.34%). According to Trepp, the CMBS Delinquency Rate in June is 10.32%, a jump of 317 basis points over the May number. About 5% of that number represents loans that are 30 days delinquent, while another 3.2% are now 60 days delinquent. See full report here.

 

SBA and Treasury Announce Release of Paycheck Protection Program Loan Data

The U.S. Small Business Administration this week announced it will release detailed loan-level data regarding the loans made under the Paycheck Protection Program (PPP), covering each of the 4.9 million loans that have been issued. The release includes loan-level data, including business names, addresses, NAICS codes, ZIP codes, business type, demographic data, non-profit information, name of lender, jobs supported, and loan amount ranges. Loans from $150,000 up to $10 million account for nearly 75% of the loan dollars approved. For all loans below $150,000, the SBA is releasing all of the above information except for business names and addresses.

 
 

Save the Dates: Join Us Next Week for Georgia and Arkansas Virtual Events

Join us next week for intimate meetings with AAHOA’s two newly appointed Regional Directors. At 4 p.m. EDT Tuesday, July 14, Georgia Regional Director Vikesh (Vik) Zaver will share what’s top of mind as a hotelier during AAHOA Georgia Region: An Interactive Q&A with Your Regional Director. If you have a topic you’d like to see addressed at the virtual event, submit your questions in advance here. Then, at 3 p.m. EDT Wednesday, July 15, Arkansas Regional Director Chintu (Danny) Patel will host the virtual event, AAHOA Arkansas Region: An Interactive Q&A with Your Regional Director. For any questions you’d like to see discussed during the virtual event, submit them here in advance.

 

President Trump Signs PPP Extension Into Law

Last Saturday, President Donald Trump signed an extension of the small business loan Paycheck Protection Program into law. House lawmakers unanimously passed the extension less than a day after the program expired, and the PPP will now remain open to applications through August 8. More than 4.8 million small business owners have tapped more than $520 billion in potentially forgivable loans through the program. Read the full article here.
 

Senators Introduce Bill to Prevent Future Economic Shutdowns Caused by Pandemics

On July 2, U.S. Senators Cory Gardner (R-CO), Michael Bennet (D-CO), Mitt Romney (R-UT), and Kyrsten Sinema (D-AZ) introduced the Timely and Effective Systematic Testing (TEST) Act, sweeping legislation to strengthen the nation’s health preparedness efforts for COVID-19 recovery and future pandemics. “In order for the hospitality industry to recover, Americans need to be confident that they can resume activities, such as travel,” AAHOA President & CEO Cecil P. Staton said. “Until a vaccine is developed, more testing is key to giving us a clearer picture of where we stand regarding this virus.” Read the full press release.

 

AAHOA Releases FAQ Document for 2020 Elections

This year’s virtual election will take place on Tuesday, August 11. AAHOA recently released a FAQ document, which answers some of the most common questions to ensure AAHOA Members are ready to make your voice heard and participate in what will be a historic virtual election. Most notably, to participate in the voting process, you’ll need to ensure you’re eligible to vote, and have a valid and unique email address and mobile phone number on file in MyAAHOA.com (which means no sharing of email addresses or mobile numbers). If you have any other questions around voting or eligibility, please email us at info@aahoa.com or click here to learn more.