The August 2023 issue of Today's Hotelier magazine is out now! This month, we're focusing on all things legal and liability, including creating a property that’s in compliance and welcoming to all, embracing your legal support system to prevent disaster, and much more, including a look back at Prime Minister Modi's U.S. state visit.

 

Some of the featured content in this dynamic issue include:

Stay informed on the legal issues that AAHOA is currently involved in by reading the August issue today.

AAHOA is bringing its members an important update that can significantly impact hotel business operations. Effective August 1, 2023, the Small Business Administration (SBA) will be in the process of launching a major streamlining of its policies, processes, and procedures. Many of these new changes will affect SBA 7(a) loans.

 

AAHOA continues to serve as your foremost resource with the SBA. We are highlighting some of the top recordings and training on-demand videos we think you’d find most valuable to your business.

 

On Monday, July 24, the Mid South Charity Golf Tournament took place in Lexington, KY. This event kicked off the AAHOA 2023 Charity Golf Tournament series, with four more scheduled through the rest of the year.

 

Hoteliers from multiple states, including AAHOA North Central Regional Director Bhavesh N. Patel, Gulf Regional Director Vimal (Ricky) Patel, Mid South Regional Director Harikrishna "HK" Patel, and Greater Los Angeles Area Regional Director Naresh “ND” Bhakta, came together to play friendly rounds of golf at the Cherry Blossom Golf Club while supporting the following charities:

• Businesses Ending Slavery & Trafficking (BEST)
• Kentucky Children's Hospital - UK Healthcare
• St. Jude Children's Hospital
• The AAHOA Foundation

LendingCon was founded for one purpose: To help real estate owners increase profits and grow their portfolios.

 

The Third Annual LendingCon event will be held on August 23-24 at the DoubleTree Hotel SeaWorld in Orlando, FL. The theme of this year's LendingCon is "Your Platform for Financial Growth and PropTech Success" and will be centered around growing revenue, creating strategic financial resources, and using information technology (IT) to help individuals and companies buy, sell, and manage real estate.

 

AAHOA President & CEO Laura Lee Blake will be participating in a panel titled "Governmental Affairs Update on Lending & the Current Crisis," along with U.S. Congressman Bill Posey of the House Financial Services Committee, Ed Ramos of the SBA, and Nitin Shah of Embassy Bank. 

 

AAHOA is proud to be a Platinum Sponsor of LendingCon. Other AAHOA Members will be attending, so if you'd like to be one of them, make sure to register today!

"I always advise other female professionals to look for companies where women are already in place in high-level positions and for companies that offer internal mentoring programs and diversity. It is helpful to be a part of professional associations and groups that show initiative and provides ambitious women with training and support, as well as networking and mentoring opportunities. Taking leaps and breaking barriers is the way we will break ceilings in the work force. Being more assertive when negotiating pay and promotions.

 

Understanding their self-value and not selling themselves short on their skill and will for the job. It is not easy but to earn your name in the industry you have to work hard and prove yourself and others. You do need to be willing to go where the opportunities are and be flexible. Take on challenges and new opportunities and trust in yourself. You can do it!"

 

HBO, the oldest and most award-winning premium channel in the U.S., is offering AAHOA Members the chance to earn money back. Members get a rebate of $9 per room (5-year contract) or $7 per room (3-or 4-year contract) when they add or renew HBO at their properties. Click here today to complete the rebate form and get started.

No Vacancy with Glenn Haussman is the travel industry’s most exciting podcast. It's a fun, fast-paced, genre-bending program that peels back the veneer of the travel business. Click here to subscribe to the No Vacancy Podcast. Follow Glenn on Twitter @TravelingGlenn or visit www.rouse.media.

MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. MassMutual offers a wide range of financial products and services, including life insurance, disability income insurance, long term care insurance, annuities, retirement plans and other employee benefits. For more information, visit www.massmutual.com, then contact Ana Lucia Divins (analuciadivins@massmutual.com) to get started.

Retailers, looking to create a more immersive guest experience, are taking inspiration from the hospitality industry, the latter of which has perfected the art.
(Source: Forbes)

Thanks to the bleisure trend and the ability for remote workers to set up shop anywhere, extended-stay hotels are flourishing as many are enjoying a sustained surge in bookings.
(Source: The New York Times)

According to recent research, smaller corporate groups often prefer booking select-service properties for their events, as budgets are tightened with small- and mid-sized properties continuing to receive the lion's share of bookings in this segment.
(Source: CoStar)

Truist Securities reports, “Overall U.S. RevPAR was +2.9% y/y for the week ending 7/29/2023, per STR, above the prior week's result of +2.0%, and above the trailing 10-week average of +1.3%. Versus 2019, RevPAR was +16.9%, above the prior week’s result of +11.6%, and above the trailing 10-week average of +12.5%. Last week was a clean comp on both y/y and 2019 comparisons. We maintain our view of domestic hotel leisure trends as overall lethargic with MSD-HSD occupancy declines versus 2019. On y/y, the leisure-heavy Economy segment again lagged behind other chain scales while the more Group-heavy Upscale and Upper Upscale segments were the growth leaders. Industry-wide Group business picked up last week versus the rest of July as it was +3.2% y/y versus the 28-day average of +0.7% y/y. Upscale RevPAR: +5.7% y/y and +14.1% versus 2019; Upper Midscale RevPAR: +3.0% y/y and +17.2% versus 2019.”
For more, read the full report here, and read the China/Europe report here.