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AAHOA

Update for Thursday, August 6

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
 

  • AAHOACON20: Only 1 day left to register for convention to qualify for free nights in Dallas in ’21
  • Coronavirus Relief Package: Both sides hope for a deal by the end of the week
  • WSJ: Smaller and private hotels hurry to raise cash as federal aid could end
  • Webcasts: We’ll be back after AAHOACON20 with more learning opportunities
  • STR: Six months into the COVID-19 pandemic, what does the data say?

Only 1 Day Left: Register for Convention to Qualify for Free Nights in Dallas in ’21

There is only one day left to register for the 2020 AAHOA Virtual Convention & Trade Show to be automatically entered to win one of six fabulous prizes. The grand prize winner will receive four FREE nights of hotel accommodations at one of our host hotels in Dallas during the 2021 convention. Five runners-up will be able to earn their Certificate in Hotel OwnershipTM (CHO) for FREE (up to a $249 value).

But you have only until 11:59 p.m. tomorrow, August 7!* You do not want to miss out, so don’t wait – REGISTER NOW!

Coronavirus Relief Package: Both Sides Hope for a Deal by the End of the Week

Congressional Democrats and the White House met again on Wednesday, hoping to hash out their differences on another coronavirus relief package and come to an agreement by the end of the week to quickly rush funds to millions of unemployed Americans stuck in financial limbo after a $600 weekly enhanced unemployment benefit expired Friday. Both sides indicated that although they remained far apart on core issues, the hope was to come to a deal by the end of the week, so a bill could pass next week.

Movement toward a deal has been sluggish, however, as both sides dug in their heels on some of the biggest sticking points, including the unemployment benefits and additional funds for state and local governments that have had their revenue gutted during the COVID-19 pandemic.

WSJ: Smaller and Private Hotels Hurry to Raise Cash As Federal Aid Could End

Some hotel owners are faced with property sales at discounted prices and expensive financing now that federal aid is poised to expire. Larger hotel owners such as the publicly listed real-estate investment trusts have drawn down their credit lines and sold bonds, which will help tide them over a volatile recovery, said Robert Webster, vice chairman of CBRE Hotels. But many smaller and private hotel owners are in talks with lenders and are hoping for more government assistance, which has helped fend off foreclosures.

The lodging industry’s budding recovery in June now looks impeded by the recent rise in coronavirus cases. U.S. revenue per available room fell 56% for the week of July 12-18 from a year earlier, according to data firm STR. Read the full article here.

We’ll Be Back After AAHOACON20 with More Top-Notch Learning Opportunities

We’ll return with more webcasts to inform and enlighten after AAHOACON20, which takes place next week on August 11-13. In the meantime, you still can sign up now for the three webcasts below to get a headstart. And make sure you’re registered for our virtual convention to get the latest updates and learning opportunities from AAHOA next week. “See” you there!

 

Register Now for These Other COVID-19 Webcasts on the Schedule
 


View all of AAHOA’s COVID-19 webcasts here.

STR: Six Months Into the COVID-19 Pandemic, What Does the Data Say?

The 2020 Chinese New Year fell on January 24-25, and just like every year, STR analysts expected a steep decline in demand as people stayed home and then a sharp uptick in leisure room demand for a week of vacation. However, thanks to the coronavirus pandemic, that didn’t happen. Travel in China came to a halt, and as the COVID-19 virus spread around the world, air travel and room demand in Europe and the Americas cratered.

Six months later, some countries that were locked down are reopening, but the pandemic is far from over as the case count in the U.S. shows increased velocity. According to Hotel News Now, STR is monitoring certain data sets that give a sense of how the global hotel industry is faring as the summer of 2020 comes to a close. Read the full article here.