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AAHOA

Update for Monday, August 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.

 

CONTENT FOUND IN THIS UPDATE
 

  • AAHOACON20 Begins Tomorrow: It’s not too late to register - AAHOA Hotelier Members attend FREE
  • 2020 Elections: You have until 3 p.m. EDT tomorrow to complete credentialing with Voatz in order to cast your ballot!
  • Coalition Letter: AAHOA, others seek ‘healthy workplace’ tax credit in letters to Congress, White House
  • EIDL: Cornyn leads bipartisan letter urging robust funding for EIDL in next stimulus package
  • Webcasts: We’ll be back after AAHOACON20 with more top-notch learning opportunities
  • Baird/STR: Stock index falls 1.7% in July, down nearly 43% year to date
  • Bloomberg: Scars inflicted on travel industry by COVID-19 might be permanent

It’s Not Too Late to Register for the 2020 Convention: Kicks Off Tomorrow!
We’re less than 24 hours away from the kickoff of the 2020 AAHOA Virtual Convention & Trade Show! Have you registered yet? If not, it’s not too late to reserve your spot. Don’t miss out on all the great programming, speakers, exhibitors, and more we have lined up just for you. Tomorrow kicks off with an AAHOA Annual Meeting and everything surrounding 2020 Election Day. Click here for the top 5 reasons why you should not miss this inaugural virtual event. Register now!

 

Deadline Is Near! Complete Your Voter Registration Before 3 p.m. EDT Tomorrow!

To participate in the 2020 AAHOA Elections, eligible voters must complete credentialing with Voatz, including submitting an ID scan, by 3 p.m. EDT tomorrow, August 11. If you fail to meet this deadline, you will not be able to vote and cast your ballot. Download the official AAHOA Elections app, Voatz, and our step-by-step Voters Guide, which will walk you through the entire process.

You also can visit our elujection website and watch the “How it Works” video on the home page. For questions about voting eligibility, you can email info@aahoa.com; for voting support, visit AAHOA.com/2020Elections or click the "Help" button inside the app to be connected to customer support. Completing your voter registration takes only a couple of minutes, so do it NOW!

AAHOA, Coalition Seek ‘Healthy Workplace’ Tax Credit in Letters to Congress, White House

AAHOA and a coalition of nearly 40 other associations sent letters to Congress and the White House on Friday urging them to include a “healthy workplace” tax credit in the next federal stimulus package to protect the safety of workers, customers, and the public. Citing ISSA – the Worldwide Cleaning Industry Association’s estimate that an additional $56,160 in cleaning-related costs would be required for a general 3,000-square-foot retail space in addition to the costs of PPE,

testing, employee training, and other important COVID-19-related expenses, the letter makes several recommendations for qualified expenses. Read the full letter here.

Cornyn Leads Bipartisan Letter Urging Robust Funding for EIDL in Next Stimulus Package

Last week, U.S. Senator John Cornyn (R-TX) sent a letter to Senate Committee on Small Business and Entrepreneurship Chairman Marco Rubio (R-FL) and Ranking Member Ben Cardin (D-MD) urging robust funding for the Economic Injury Disaster Loan (EIDL) and EIDL Advance programs, and the removal of caps imposed by the U.S. Small Business Administration (SBA) in the next COVID-19 relief package.

Last month, Senator Cornyn introduced the Ensuring Increased Disaster Loans (EIDL) for Small Businesses Act and in April, he led a letter urging the SBA to eliminate its self-imposed caps on EIDL loans and EIDL Advance grants. Read the full letter 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!

 

Baird/STR: Stock Index Falls 1.7% in July, Down Nearly 43% Year to Date

The Baird/STR Hotel Stock Index decreased 1.7% in July to a level of 3,010. Year to date through the first seven months of 2020, the stock index was down 42.9%. “Hotel stocks underperformed again in July as industry-wide occupancy growth continued to moderate on a weekly sequential basis,” Michael Bellisario, senior hotel research analyst and director at Baird, said.

“Investors remain focused on the impact of rising coronavirus case counts on broader travel trends, and prior optimism about the prospects for business travel to return in a meaningful way this fall has faded.” July performance of the Baird/STR Hotel Stock Index fell behind the S&P 500 (+5.5%) and the MSCI US REIT Index (+3.9%). Read the full report here.

 

Bloomberg: Scars Inflicted on the Travel Industry by COVID-19 Might Be Permanent

As COVID-19 continues to ping-pong around the globe, the engine of growth the strong U.S. economy was before the pandemic hit has come to a crashing halt. And unlike after the Sept. 11 terrorist attacks, the scars inflicted on travel and tourism look to be permanent as companies shift away from massive travel budgets and experiential living becomes a memory. The monthly U.S. employment report on Friday made clear that many of those jobs aren’t coming back anytime soon – if ever. Read the full article here.