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Your Weekly AAHOA Wrap-Up for Friday, Nov. 13, 2020
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Message from the President & CEO
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AAHOA Members,
Earlier this week, AAHOA released a statement congratulating President-elect Joe Biden and Vice President-elect Kamala Harris. As the outcomes in several key Senate runoff elections and pending House races remain to be determined, stay tuned for further updates from our AAHOA Advocacy team.
In the meantime, we need to hear from you, our valued AAHOA Members. Our latest post-election survey, just launched this week, is asking you to share how your businesses are fairing in absence of additional relief, forbearance, and your legislative priorities going into 2021.
Yesterday, we capped off our 5th 2020 Regional Conference & Trade Show. There are only a handful of opportunities left to attend these resourceful events, so if you haven’t already, I encourage you to register and make plans to attend. The AAHOA “Getting Back to Business” webcast series is still in full tilt, with five webcasts scheduled for next week. Both the regionals and webcasts are free for AAHOA Members and provide great opportunities to network, hear from industry experts, and stay up to date on industry best practices, trends, and more.
I know many of you will be celebrating Diwali, the Festival of Lights, this weekend with your family and friends. May this auspicious occasion light up your life with happiness, joy, peace, and prosperity this weekend and for the year ahead.
Happy Diwali,
Cecil P. Staton
AAHOA President & CEO
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Top 10 Things to Know This Week
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CBRE: 2021 U.S. Real Estate Market Outlook
2020 will be remembered as a year of extremes, from GDP’S unprecedented 31.4% drop in Q2 to its remarkable 33.1% growth in Q3. 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.
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Read Full Report
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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):
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Occupancy: 44.2% (-35.9%)
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Average daily rate (ADR): $91.40 (-31.1%)
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Revenue per available room (RevPAR): $40.36 (-55.8%)
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Read Full Report
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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 on Wednesday, November 18 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.
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Learn More
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Register Now for Next Week’s Upcoming Webcasts!
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Getting Back to Business: Disaster Strikes (Part 1) – Perils, Policy, and Mitigation, 3-3:30 p.m. EST Monday, Nov. 16, 2020
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Getting Back to Business: The Business Case for Black Leaders at Your Hotel Company: Stats, Opportunities, and Practical Strategies, 1-2 p.m. EST Tuesday Nov. 17, 2020
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Getting Back to Business: I Want to Win the Ball Game: The Owner/GM as the Hotel’s Chief Culture Officer, 3-3:30 p.m. EST Tuesday Nov. 17, 2020
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Getting back to Business: Disaster Strikes (Part 2) – 3 Components of an Insurance Claim, 1-1:30 p.m. EST Wednesday, Nov. 18, 2020
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Getting Back to Business: Disaster Strikes (Part 3) – The Best Approach to Repairs & Upgrades, 1-1:30 p.m. EST Friday, Nov. 20, 2020
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View All Upcoming Webcasts
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AAHOA’s 6th Regional Conference Is Next Week!
Next week, we are holding our sixth Regional Conference, the AAHOA Arkansas, Central Midwest, and Gulf Regional: A Virtual Experience, to be held from 2 p.m. to 6 p.m. CT Thursday, November 19. This is the latest in our eight-event 2020 Regionals Series. All of these virtual events are FREE for AAHOA Members and the entire industry and you can attend as many as you like. With region-specific industry panels, networking, and an interactive trade show, it’s a happening you definitely don’t want to miss. We can’t wait to “see” you there!
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Register Now
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AAHOA President Speaks at NYU International Hospitality Industry Investment Conference
A hand, not a handout. That’s what President & CEO Cecil P. Staton replied when asked what AAHOA Members were looking for when the Biden administration assumes the White House in January. “Many of our members came here originally because of their belief in the American Dream, and I see the fulfillment of the dream,” Staton said. “But they may lose what they have been building, some for more than a generation. Our members are not looking for a handout, just some help to get to the other side. And I think that help is there. There is hope for the future.”
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Learn More
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Collaboration Among Competitors During COVID-19: Be Mindful of Antitrust Risks
An article in the November issue of Today’s Hotelier written by Michael Mitchell, a partner at Boies Schiller Flexner LLP in Washington, D.C., discusses how COVID-19 has put hotels under extraordinary pressure to cut costs, increase revenue, and otherwise modify their business practices to navigate the economic effects of the crisis. In some circumstances, collaborating with other hoteliers or coordinating industry responses may be necessary to address the hotel industry’s challenges. While such competitor collaboration can be legitimate and pro-competitive, it also can increase a type of legal risk that must not be overlooked: antitrust.
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Read Full Article
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AAHOA Congratulates Biden-Harris, Turns Focus to Economic Relief for Hoteliers
This week, President & CEO Cecil P. Staton offered congratulations to President-elect Joe Biden and Vice President-elect Kamala Harris on behalf of AAHOA, then shifted his focus to that which matters most to our members: economic relief. “Our primary focus is on the next few weeks when the 116th Congress returns to Washington,” Staton said. “Because Speaker Nancy Pelosi and Treasury Secretary Mnuchin failed to reach an agreement on an economic stimulus package, AAHOA will continue to press Congress and the administration to reach a bipartisan solution that will help the people and industries hit hardest by the COVID-19 pandemic, including hoteliers. We will also keep an eye on next year and start building relationships with the new Biden administration and the freshmen members of the 117th Congress.”
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Continue Reading
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Have a Minute? Take the AAHOA Member Post-Election Survey
AAHOA Members, we need your help to let Congress know just how dire the situation is for many hoteliers. AAHOA is collecting this critical information from our members even now because we can’t afford to take our foot off the gas. Hoteliers are suffering. This survey is collecting raw numbers and data so we can present Congress with concrete details around how many members are in danger of losing everything they’ve worked so hard for. That would not only be devastating to hoteliers, it would literally crush the American economy. It will take only a few minutes of your time, so please complete this quick survey NOW to help save our industry.
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Take the Survey
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Asian American Hotel Owners Association, Inc.
Atlanta Headquarters
1100 Abernathy Road, Suite 725
Atlanta, GA 30328
404.816.5759
www.aahoa.com
Washington D.C. Office
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Washington DC 20001
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