Click here if you are having trouble viewing this message.

Your Daily AAHOA Update for Thursday, Nov. 12, 2020

Today's Top Stories

AAHOA Members, Lodging Industry Unite to Help Defeat CA Proposition 15

After months of campaigning and educating voters, hard work has paid off. Californians overwhelmingly voted NO on Prop 15 and defeated the tax hike on hoteliers and small business owners. We are proud we came together to stand up for our industry and our businesses against an unjust law aimed at our livelihoods. The power of AAHOA Members and the lodging industry in our state was on full display as hoteliers from every corner of California rallied to inform their communities about how Prop 15 would have devasted hoteliers when we can least afford it. AAHOA Members can now rest assured that, together, we have defeated an $11.5 billion per year tax increase and sent a message to the entire state that our members, our industry, and our communities will not stand by and allow others to destroy everything we have built for our families and our futures.

We are also grateful to Bijal Patel and Lynn Mohrfeld of CHLA and the No on Prop 15 Campaign for their exemplary leadership in defeating this proposal. Thanks to CHLA and AAHOA Regional Directors Kamalesh (KP) Patel (North Pacific), Naresh (ND) Bhakta (Greater Los Angeles Area), and Mike Riverside, CHO, CHA (South Pacific) for their efforts.

Learn More

STR: U.S. Weekly Hotel Occupancy Relatively Flat from Previous Week

U.S. weekly hotel occupancy was relatively flat from the previous week, according to the latest data from STR through November 7. November 1-7 (percentage change from comparable week in 2019):

Occupancy: 44.2% (-35.9%)
Average daily rate (ADR): US$91.40 (-31.1%)
Revenue per available room (RevPAR): US$40.36 (-55.8%)

Down slightly from 44.4% the prior week, the country’s occupancy level was its lowest since the week of June 14-20. Aggregate data for the Top 25 Markets showed lower occupancy (39.9%) but higher ADR (US$97.13) than all other markets. Only two of those major markets reached or surpassed 50% occupancy: Phoenix, AZ (55.1%) and New Orleans, LAna (53.9%). Markets with the lowest occupancy levels for the week included Oahu Island, HI (24.0%), and Minneapolis/St. Paul, MN-WI (30.0%).

Read Full Report

CBRE: 2021 U.S. Real Estate Market Outlook

In 2020, COVID-19 sparked an acceleration of certain trends that benefited such sectors as industrial and logistics, life sciences, data centers, and cold storage, while creating or exacerbating challenges for office, retail, and hotels. Difficult market conditions will continue at the outset of 2021, but the prospect of a widely deployed vaccine, coupled with enhanced government stimulus, could portent a rebound for real estate beginning in the spring or summer.

While continued recovery depends on a medical solution to COVID-19 and on additional government stimulus, GDP is expected to end 2020 down by only 4.0%, followed by a 4.5% rebound in 2021. Read the full report for more details on which sectors may continue to thrive and which may experience a lag in recovery.

Learn More

Upcoming AAHOA Events & Webcasts

Virtual Event

TOMORROW: AAHOA Update on California

Proposition 15

Join us on Friday as our AAHOA Government Affairs Team and Lynn Mohrfeld, President & CEO of CHLA, give AAHOA Members an update on Proposition 15, which was defeated at the polls. Prop 15 would have amended the California State Constitution to require commercial and industrial properties, except those zoned as commercial agriculture, to be taxed based on their market value rather than their purchase price.

Meeting ID: 934 7141 1744

Join by Phone: 301-715-8592

Passcode: 089275

11 a.m. PST (2 p.m. EST) Friday, Nov. 13, 2020

Event Link

Webcast

Getting Back to Business: Disaster Strikes (Part 1) – Perils, Policy, and Mitigation

Every year, countless businesses are forced to close their doors temporarily or shut down forever because of fires, floods, hurricanes, and other catastrophic events. According to FEMA, 40% of businesses do not reopen after a disaster and, among those that do, 25 percent fail within one year. Fortunately, you can take proactive steps to mitigate the impact of a disaster on your business. Join us for the first of a three-part series and learn how to take immediate steps that can help your business get back on its feet quickly.

3-3:30 p.m. EDT Monday, Nov. 16, 2020

Register Now

Upcoming Industry Events & Webcasts

Virtual Event

A New York State of Mind: BDNY Virtual Conference Set for November 16-17

AAHOA Female Director Western Division Nimisha Patel will be among the 40 industry leaders, influencers, and game changers who will take part in next week’s 2020 BDNY Virtual Conference. Patel will share her expertise during the Boutique Design Power Players: Women Leaders in Hospitality Panel Discussion, which will bring together women leaders in hospitality design, operations, investment, and manufacturing for an enlightening conversation spanning the industry’s challenges, opportunities, and trends. This virtual event will connect the hospitality A&D community via peer-based learning with some of the industry’s brightest minds.

November 16-17

Register Now

Virtual Event

Anthony Melchiorri Tops Agenda at 2020 Hospitality Finance Forum

Anthony Melchiorri, hospitality industry expert and creator, co-executive producer, and host of the Travel Channel's “Hotel Impossible” will be the keynote speaker Wednesday at CRE Media and Events’ 2020 Hospitality Finance Forum. The virtual event connects hospitality owners and investors with active commercial industry lenders, developers, and vendors equipped with solutions and insights for these unprecedented times. Melchiorri and other industry experts will impart the information and solutions hoteliers need to navigate and overcome the current hospitality market.

Wednesday, November 18

Register Now