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Your Daily AAHOA Update for Monday, Feb. 22, 2021

Today's Top Stories

Temporary Policy Changes to the PPP

The Biden Administration announced policy changes to the Paycheck Protection Program (PPP) intended to assist the smallest businesses and minority-owned firms. For two weeks, from Feb. 24 to March 9, only businesses with fewer than 20 employees will be eligible to apply to the PPP.

For more information on the PPP, SBA updates, and other news, visit our lending resource page and register for our upcoming webcasts.

$1.9 Trillion Relief Package Slated to Move Through the House This Week

Democrats in the House plan to hold a vote on Biden’s relief package this Friday, which could move the bill to the Senate floor as early as next week. Federal unemployment benefits and other assistance programs are approaching a March 14 expiration, and Democrats are using a budget procedure to fast track the package. Here are the key provisions:

$422 billion for stimulus checks to individuals
$246 billion for supplemental unemployment insurance
$350 billion for state and local governments
$160 billion to combat virus, including vaccines, testing, tracing
$130 billion to reopen K-12 schools
$7.25 billion for small businesses via the PPP

CDC: Interim List of Categories of Essential Workers Mapped to Standardized Industry Codes and Titles

The Centers for Disease Control and Prevention (CDC) has updated its Advisory Committee on Immunization Practices (ACIP) Categories of Essential Workers to prioritize “Traveler Accommodation” under Phase 1c of the COVID-19 vaccine distribution. The interim list identifies “essential workers” as those who conduct a range of operations and services in industries that are essential to ensure the continuity of critical functions in the U.S. This is a significant achievement that directly impacts the health and safety of hotel workers across the country.

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Kalibri Labs: January 2021 U.S. Industry Performance

Property Direct bookings have led 2020 recovery, with Guest Paid RevPAR YOY plateauing around -31% below 2019 levels at the end of the year then rising to -26.7% YOY in January. All channels outside of GDS and Group have trended upwards entering 2021 after having plateaued for the last two months of 2020; Direct Channels continue to lead overall production with 68.4% of the Demand Share, leading to a higher COPE % due to the lower cost of acquisition. After ending 2020 with a lead time of over two weeks, 2021 has started with a lead time of 10.9 days, (48.2% lower than January 2020). Lead time finally exceeded two weeks in November for the first time since March 2020, ending the year with a lead time of nearly 15 days (45.3% lower than 2019).

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AAHOA Expands Leadership Team to Focus on Member-Centric Services

AAHOA is committed to becoming the foremost resource and advocate for America’s hotel owners - never more important than now when the businesses of hotel owners across the country are struggling. In our association’s ongoing commitment to best serve members in 2021 and beyond, we are proud to announce that Michael Forrest (MBA, CFE, AAHOA Vice President of Franchise Relations) and Ashli Johnson (MS, CHT, AAHOA Vice President of Education) are joining our Executive Leadership Team. Rachel Humphrey will now serve as AAHOA’s Executive Vice President and Chief Operating Officer.

Read Full Statement

What Members Are Saying...

I just wanted to thank you for your efforts in helping us...Without your help, this was not possible....They [ ] agreed not to implement that [brand standards] mandate right now."

– AAHOA Member, Georgia

Upcoming AAHOA Events & Webcasts

Webcast

TOMORROW | 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

Register Now

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, 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

Virtual Event

CBRE: 2021 America’s Market Outlook Virtual Event Series Set

Tune in for CBRE’s 2021 Americas Market Outlook virtual event series. Each event will feature CBRE subject-matter experts sharing unique perspectives and insights on key trends and expectations for 2021. On March 5, the series will focus on hotels and what to expect moving forward. These events will be hosted in an easy-to-access virtual events platform, which will house recordings of all sessions as well as previously held events in EMEA and APAC. Register for one, multiple, or all sessions to tailor an event program with content most relevant to you. Please note only registered attendees will be able to access the platform, so it’s essential to register in advance.

February 24-March 15

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Webinar

SHaDTalk: 7 Important Steps to Projecting ROI for a Hotel Investment Opportunity

Interested in sponsoring or investing in a hotel project but don’t know how to financially evaluate an opportunity from the investment perspective? At SHaD, they have created a learning map to guide the rigorous financial analyses they undergo before moving forward on their hotel investments.This SHaDTalk will share this tool and provide you with a high-level overview of how to analyze a hotel deal and prepare you for analyzing the hotel deals you want to pursue.

12 noon EST Thursday, Feb. 25

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In-Person Event

MMHLA: 23rd Annual Lodging Industry Update Set for Friday

The 23rd Annual Lodging Industry Update, hosted by the Metropolitan Memphis Hotel & Lodging Association at the new Renasant Convention Center, will be held 7:30-10 a.m. Friday, Feb. 26. The event will feature dynamic speakers and in-depth topics about the hospitality industry and Memphis tourism, including a national industry outlook and a Memphis outlook. There also will be a VIP tour of the new Renasant Convention Center after the event.

7:30-10 a.m. Friday, Feb. 26

Register Now