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Your Daily AAHOA Update for Thursday, Oct. 29, 2020

Today's Top Stories

AAHOA President & CEO in Hotel Business: Thousands of Hotels Are on the Brink – Why Won’t Washington Act?

In an op-ed published yesterday, AAHOA President & CEO Cecil P. Staton wrote about how key economic relief programs in Washington still have hundreds of billions of dollars available to help impacted businesses and how our elected officials’ inability to make these funds available to hotel owners who are struggling to pay employees and stay current on their mortgages is unacceptable.

“There is still plenty of money on the table, and there are people who need it desperately,” Staton writes. “America’s hotel owners call on Congress and the White House to expand access to the MSLP and initiate another round of PPP.”

AAHOA Recognized by Best Western CEO for Contributions and Industry Leadership at Virtual Event

During Best Western’s Virtual Conference yesterday, AAHOA Chairman Biran Patel presented BWH Hotel Group President & CEO David Kong with an AAHOA award that recognizes Kong’s contribution to AAHOA and the industry. In his acceptance speech following Biran’s appearance, Kong thanked AAHOA for its long time partnership and commitment to America’s hoteliers. “We will continue to stand shoulder to shoulder with you as we overcome this current crisis,” Kong said.

Watch the Video

STR Data for Week Ending October 24: Occupancy Below the 50% Mark

U.S. weekly hotel occupancy fell back below the 50% mark, according to the latest data from STR for the week ending October 24. Markets with the lowest occupancy levels included Oahu Island, Hawaii (23.4%), and Minneapolis/St. Paul, Minnesota-Wisconsin (33.9%).

Oct. 18-24, 2020 (percentage change from comparable week in 2019):

Occupancy: 48.0% (-31.7%)
ADR: $95.49 (-29.4%)
RevPAR: $45.83 (-51.8%)

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Upcoming AAHOA Events & Webcasts

Virtual Event

TOMORROW: AAHOA Town Hall Meeting with the Trump Campaign

AAHOA will be taking part in a virtual town hall with the Trump campaign team at 2 p.m. EDT tomorrow, and you're invited to participate. Mick Mulvaney, former White House Chief of Staff, and AAHOA Member and Trump supporter Danny Gaekwad will be providing remarks as campaign surrogates. (Call access: 646-558-8656; meeting ID: 970 0044 6870; passcode: 664274).

2 p.m. EDT on Friday, October 30

AAHOA has not endorsed a candidate in the presidential election and does not necessarily support the views of the speakers of this meeting.

Zoom Link

Regional Conference

MONDAY: Can’t-Miss Speakers at the AAHOA Mid South, North Carolina, and South Carolina Regional

AAHOA's 2020 Regional Conferences & Trade Shows continue next week with the AAHOA Mid South, North Carolina, and South Carolina Regional: A Virtual Experience on Monday! Hear from Dr. Cassandra Hill, Executive Director, Choice Hotels Owners Council; Lynn Minges, President & CEO, NCRLA; Vinay Patel, Principal, Head of External Affairs, SREE Hotels; Kunal Dev, President, Malaxmi; Monark Patel, President/CEO, Milan Hotel Group; and many more. All Regionals are FREE, and you can attend as many as you like!

2- 6 p.m. EST on Monday, November 2

Register Now

Webcast

Getting Back to Business: A Look at the Current Investment Landscape

As hoteliers head into the fourth quarter of a tumultuous year, what can they expect their financial future to hold? Join us as we welcome back an industry expert to discuss the current investment landscape and strategies for hotel owners to build a strong financial future. This webinar will provide high-level overviews of the economy, equities, fixed income, and alternatives.

11 a.m. EST Thursday, November 5

Register Now