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AAHOA

Update for Tuesday, July 27

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
 

Hoteliers, Industry Pros Gearing Up for AAHOACON20
The 2020 AAHOA Virtual Convention & Trade Show is only two weeks away! Hoteliers from all across the nation and the world! are preparing to be on hand for the general sessions, conversations with industry legends, and networking and relationship building with Industry Partners that AAHOA events are known for. We have registrants from 39 different states, as well as from Spain, France, Poland, and the United Arab Emirates. Don’t get left behind, register today!

Senate Republicans Roll Out $1T Relief Package, Setting Up Battle with Democrats

Senate Republicans on Monday unveiled their long-awaited $1 trillion coronavirus relief bill, setting up a clash with Democratic lawmakers in the coming weeks. Likely the biggest points of contention are the plan’s reduction of the enhanced unemployment insurance from $600 to $200 per week and the five-year shield from coronavirus-related lawsuits unless a business, school, or government agency is involved in “gross negligence” or “intentional misconduct.” Read the full article here.

Paycheck Protection Program (PPP) Lending Update

The SBA recently released updated data for its PPP funding approvals, which reveals approval figures through July 24. According to the summary, approved loans during this period stood at more than 5 million with an average loan size of $104,000. Accomodation and Food Services comes in at the No. 5 industry sector to receive the most funding, valued at more than $42 billion with more than 373,000 loans. With more than $130 billion in funding remaining, AAHOA encourages hoteliers who have not yet applied to work with their preferred lender to complete the PPP Application and review loan forgiveness considerations.

Tomorrow’s Virtual Event: AAHOA Independent Hoteliers Virtual Event -- Revenue Management
Join us at 1 p.m. EDT tomorrow, July 29, for
AAHOA Independent Hoteliers Virtual Event -- Revenue Management. AAHOA Independent Hoteliers Committee Chair Tina Patel will host Dhruti Patel, Vice President of Revenue and Sales, ALKO Hotels, for a look at revenue management as it affects the independent hotelier. Don’t miss it, add this event to your calendar now.

Tomorrow’s Webcast: Getting Back to Business – Essential Tips for Appropriate CARES Act Funds Usage

The CARES Act was implemented to provide relief for businesses experiencing financial hardship due to the recent pandemic. However, hoteliers must use CARES Act funding appropriately in order to avoid potential whistleblower claims for fraud, waste, and abuse of funds. Join us at 1 p.m. EDT tomorrow, July 29, for Getting Back to Business: Essential Tips for Appropriate CARES Act Funds Usage to learn the steps you need to take to protect your business and your bottom line as you welcome guests back. Register now.

Lodging Econometrics: U.S. Hotel Construction Pipeline Remains Robust Through the First Half of 2020, Despite Pandemic

The top five U.S. markets with the largest total hotel construction pipelines at the close of the second quarter of 2020 are Los Angeles, leading for the fourth consecutive quarter, with 163 projects/27,415 rooms, followed by Dallas (158 projects/19,314 rooms), New York City (151 projects/26,302 rooms), Atlanta (135 projects/18,634 rooms), and Houston (122 projects/12,486 rooms).

Those are the findings from the latest report from Lodging Econometrics. Despite these top-five markets being located in states that have been heavily impacted by COVID-19, combined, they still account for 15% of the rooms in the total U.S. pipeline and, with the exception of Houston, have pipelines that remain steady and primarily unchanged quarter-over-quarter. Read the full report here.