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Your Daily AAHOA Update for Thursday, Feb. 18, 2021

Today's Top Stories

SBA releases Adjustment Plan to programs in the Economic Aid Act

On Jan. 19, 2021, the SBA issued two notices detailing the Adjustment Plan to microloan programs authorized by the Economic Aid Act, and amendment to the Coronavirus Aid, Relief and Economic Security Act passed last March. Due to insufficient funding in the $3.5 billion allocated to the programs, the SBA is reducing the number of months provided for 7(a) and 504 Microloan Programs. The Adjustment Plan went into effect on Tuesday, February 16. Contact your lender or SBA District Office for more information and questions on the matter.

STR: U.S. Hotel Occupancy Increased More Than 4 Percentage Points from the Previous Week

U.S. hotel occupancy increased more than 4 percentage points from the previous week, according to STR‘s latest data through February 13. February 7-13, 2021 (percentage change from comparable week in 2020):

Occupancy: 45.1% (-29.0%)
Average daily rate (ADR): US$99.21 (-25.7%)
Revenue per available room (RevPAR): US$44.72 (-47.2%)

Boosted by Valentine’s Day and the long weekend with Presidents’ Day, U.S. weekend occupancy (Friday/Saturday) came in at 58.5%, which was the highest level in the metric since mid-October. Elevated occupancy during the weekend of Presidents’ Day occurred during previous recessions as well.

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The Castell Project: ‘Diversity of Hospitality Industry Public Company Boards 2021’ Report Released

Officials of Castell Project, Inc., a 501(c)3 nonprofit organization dedicated to accelerating the careers of women professionals in the hospitality industry, today released the "Diversity of Hospitality Industry Public Company Boards 2021" report. The statistical document presents data about hospitality industry public company boards and compares statistics to 2020 Women on Boards Gender Diversity Index produced by 2020 WOB (www.2020wob.com). "The pressure to diversify boards by both race and gender is likely to intensify," Peggy Berg, chair, Castell Project, Inc. said "Currently, it is easier for boards to be gender diverse than racially diverse.”

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Congratulations to the Florida Region for Training the Most Hoteliers in Human Trafficking Awareness

Undoubtedly boosted by new state human trafficking law that went into effect in Florida on Jan. 1, 2021, the Florida region has won January’s Board and Ambassador Challenge to see who could get the most people in their state trained in human trafficking awareness and prevention by January 31. Hats off to Regional Director Rahul Patel and the Florida Ambassadors for a job well done, and kudos to all the Regional Directors and Ambassadors across the nation who take seriously AAHOA’s commitment to ending the scourge of human sex and labor trafficking in our industry. Remember: Our first line of defense in prevention is knowing the signs, so ensure everyone you know has taken AAHOA’s invaluable training.

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What Members Are Saying...

"To all, thank you for what you do for my family's independent motel and the industry. Much appreciated!”

– AAHOA Member

Upcoming AAHOA Events & Webcasts

Webcast

SBA Lending for Hotels Today

SBA lending for hotels has changed a lot since the beginning of the pandemic. There are major advantages being offered from economic aid programs, but accessing financing can be more difficult than pre-pandemic. In this webcast we will discuss the current status of SBA lending, how to access it, what to expect, and what is coming for the future.

11 a.m. EST Tuesday, Feb. 23

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Webcast

How to Apply for a PPP Loan and Ensure Your Loan Is Forgiven

The Paycheck Protection Program (PPP) is a valuable benefit for hotel businesses—provided hotel owners understand the eligibility requirements and what steps they must take to apply. Join experts from Mag Mile Capital and A10 Capital to learn about first draw and second draw PPP loans, including the basic requirements, what financial support is available, the application and submission process, and how to make sure your loan will be forgiven.

3 p.m. EST Tuesday, Feb. 23

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Webcast

OSHA Speaks: New COVID-19 Legal Guidance for a Safe Workplace

Lawsuits alleging unsafe working conditions are some of the most prevalent in the hospitality industry right now. On Jan. 29, 2021, the U.S. Occupational Safety and Health Administration (OSHA) published new guidance on mitigating and preventing the spread of COVID-19 in the workplace. The new material is “stronger worker safety guidance” intended to inform employers on ways to identify the risks of exposure to COVID-19 and determine the appropriate control measures for their workplaces. Join us to discuss the new guidance and what it means for the hospitality industry.

1 p.m. EST Wednesday, Feb. 24

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Upcoming Industry Events & Webcasts

Town Hall

AAHOA to Hold First In-person Town Hall of 2021 at Myrtle Beach Supply Show

South Carolina Regional Director Chetan (Chet) Patel and North Carolina Regional Director Akshat Patel will host a Town Hall on the second day of the 45th annual Hotel, Motel and Restaurant Supply Show of the Southeast, set for March 9-11 in Myrtle Beach, SC. AAHOA Chairman Biran Patel will co-host and AAHOA will man a booth on the trade show floor. To ensure the health and safety of attendees, organizers will provide masks or face shields, have temperature scanners on site, and encourage social distancing. See you there!

March 9-11

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Virtual Event

CLIC: AAHOA Chairman Biran Patel to Share Expertise at California Conference

AAHOA Chairman Biran Patel will be among the featured panelists at the 2021 California Lodging Investment Conference, a virtual event set for March 4. Patel will give his insights during the “Hotel Investment In A COVID-19 World” panel, moderated by Glenn Haussmann, host of Rouse Media’s “No Vacancy Podcast.” CLIC is the only conference focused exclusively on the California hotel market and seeks to bring together lodging professionals in California for a day of learning, professional development, and networking.

March 4

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Virtual Event

Hotel Data Conference: Global Edition Set to Kick Off March 25

After 12 years of delivering the Hotel Data Conference in the U.S., they are expanding their flagship event to the rest of the world with the launch of the Hotel Data Conference: Global Edition on March 25, 2021! This conference will be tailored to the worldwide hotelier audience, with never-before-seen analyses and data-driven presentations that will help you chart a course to recovery. There will be nearly three hours of dedicated North America sessions. Conference highlights for North America include a macroeconomic overview, hotel performance overview, and more!

March 25

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