There have been a lot of changes in the world, in the hospitality industry, and here at AAHOA. Whether the changes were derived from the pandemic or something else beyond our control, it’s what moves us forward.
The 2021 AAHOA Convention & Trade Show brought thousands of people together for the first time since the pandemic began. It also brought a change in leadership at AAHOA. I’m up to the challenge, as AAHOA’s new President and CEO, to lead AAHOA as we grow accustomed to these transitions. During this pivotal period, AAHOA’s mission and values remain constant in our commitment to being the foremost member resource and advocate. Our strength is being Team AAHOA: One Mission, One Vision, One Voice.
AAHOA’s enhanced advocacy and education efforts are continuing to help AAHOA Members and the industry get back on track. Our voices have been heard. We asked for help and we’re getting it.
The Economic Injury Disaster Loans program provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue. These loans help businesses meet financial obligations and operating expenses that could have been met had the disaster not occurred.
For months, AAHOA has urged lawmakers for more relief when it comes to the loan amount and waiver of affiliation rules. AAHOA applauds the Biden Administration and welcomes the Small Business Administration’s (SBA) announcement of a much-needed expansion of the Economic Injury Disaster Loan (EIDL) program. Since the start of the pandemic, AAHOA worked with the SBA, key congressional committees, and individual Members of Congress to advocate for more relief when it comes to an increase in EIDL caps and parity between the Paycheck Protection Program (PPP) and EIDL with regards to a waiver of the affiliation rules.
Some of the EIDL enhancements include raising the threshold up to $2 million per property, raising the aggregate loan cap up to $10 million, and a waiver of affiliation rules (permits assistance at multiple properties).
On top of that, AAHOA recently announced the results of a new study conducted in partnership with Oxford Economics, a global leader in forecasting and quantitative analysis, on the economic impact and industry influence of the association’s members. Be sure to check out some of the excerpts from the report on pgs. 32-33.
Among the study’s impressive conclusions, the 34,260 AAHOA Member-owned hotels account for 60% of all hotels in the U.S., 3.1 million guestrooms, and 2.2 million direct-impact jobs.
Having this data at our fingertips will allow AAHOA to advocate more effectively on behalf of our members. Our significant contributions, not only to the industry but to the entire economic landscape in the U.S., is impressive. That AAHOA-owned hotels contribute $368.4 billion to the U.S. GDP (or 1.7% of the total U.S. GDP) underscores our impact on the overall economy and allows us to have even more meaningful conversations with lawmakers at the federal, state, and local levels.
So, as we’re navigating these changes, some more desirable than others, and lead AAHOA into its next chapter, I am confident our new leadership’s commitment and enthusiasm will play a pivotal role in AAHOA’s future success. We are Team AAHOA: One Mission, One Vision, One Voice. We have so much more to accomplish together.