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Your Daily AAHOA Update for Tuesday, Nov. 3, 2020

Today's Top Stories

Election Night 2020: Tonight’s Election Will Shape the Future of the Hotel Industry

Election Night 2020 will have more significance for our members and our industry than any other in recent memory. As hoteliers are struggling to survive, the outcome of the presidency, U.S. Senate, state house races, and ballot measures will shape our recovery and create new opportunities for America's hoteliers. While every election is important, this particular election will impact key public policies, including financial lifelines to hoteliers, workforce initiatives, guidelines for small businesses, taxation, and regulations that apply to employers. Over the past couple of weeks, AAHOA Members saw firsthand the vision for the nation under a Biden Administration or four more years with President Trump at the helm through our town hall series with each campaign, as they addressed these critical issues.

In addition to the top of the ticket, the balance of power in the U.S. Senate also is in play. The Democrats need to win at least three net seats and the presidency to control all three branches of government. With a full sweep, Democrats are poised to pursue significant stimulus measures early in the new Congress. If the Republicans hold their majority, divided government might yield a renewed sense of cooperation or further entrenchment by each side.

Nevertheless, the current Congress and the Trump Administration will remain in power until the new year. We know our members cannot wait months for additional relief, and we will be pressing officials to come together to support hoteliers and small business owners during the lame-duck session. We look forward to continuing to engage our members who have led the charge in informing their leaders about issues important to our industry.

We also are tracking key state legislative races, including the balance of power in North Carolina, Georgia, and Pennsylvania, as well as ballot measures like Proposition 15 in California. Follow along live with up-to-the-minute results with The New York Times. We have all been waiting for tonight, and there is a real possibility we will have to wait a little longer for final results. Stay tuned to AAHOA's updates to hear more from President & CEO Cecil P. Staton in the days ahead about how the election results will impact our members and your businesses.

Follow the Developments

You May Be Eligible for PPP Loan Forgiveness. Here’s How to Find Out and Apply

As outlined in a new resource published by the SBA, Paycheck Protection Program (PPP) borrowers may be eligible for loan forgiveness if the funds were used for eligible payroll costs, payments on business mortgage interest payments, rent, or utilities during either the 8- or 24-week period after disbursement. A borrower can apply for forgiveness once it has used all loan proceeds for which the borrower is requesting forgiveness.

Learn More

HotStats: What Hotel KPIs Analyze Complete Operational Performance?

Consulting the right hotel KPIs can help juice a hotel’s bottom line. But just any old metric won’t do. If hoteliers want to uncover financial weak spots, revamp operations and boost profit, it requires complete operational metrics. These KPIs measure efficiency throughout every corner of the hotel. Want to use data to drive more hotel profit? HotStats highlights a few essential operational hotel KPIs you need to be tracking.

Read Full Report

Upcoming AAHOA Events & Webcasts

Virtual Event

Navigating the Road to Recovery in a Post-COVID-19 World: A Conversation with Hilton

Join Washington DC Area Regional Director Sandip Patel as he hosts Navigating the Road to Recovery in a Post-COVID-19 World: A Conversation with Hilton, where the ongoing recovery of the hotel industry amidst a continuing pandemic will be the top-of-mind topic of discussion. Email your questions at least 24 hours in advance to franchise@aahoa.com.

2 p.m. EST Wednesday, November 4

Link to Join

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 webcast will provide high-level overviews of the economy, equities, fixed income, and alternatives.

11-11:30 a.m. EST Thursday, November 5

Register Now

Regional Conference

Thursday | AAHOA Mid Atlantic, Northeast, and Washington DC Area Regional: A Virtual Experience

AAHOA's 2020 Regional Conferences & Trade Shows continue on Thursday with the AAHOA Mid Atlantic, Northeast, and Washington DC Area Regional: A Virtual Experience. Join us for the regional updates panel, where you will also hear the latest updates for Women Hoteliers and Young Professional Hoterliers. Thank you to Marriott International for sponsoring these updates!