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May 2, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AAHOA News
What You Need to Know
Time Is Running Out - Act Now!
Don't miss out on your opportunity to receive funds from a $5.54 billion settlement reached with Visa and Mastercard for merchants who used their credit card services between January 1, 2004, and January 31, 2019. AAHOA Members in different parts of the country have recently hosted meaningful Back-of-the-House tours with elected officials to further AAHOA’s advocacy efforts.
On Wednesday, April 24, AAHOA Mid-South Ambassadors, along with members from Gatlinburg and Tennessee's 1st congressional district, had the privilege of welcoming Rep. Diana Harshbarger to AAHOA Member-owned Glenstone Lodge for a unique AAHOA back-of-the-house tour where she made pizza in the kitchen.
On Friday, April 26, AAHOA Members, including Women Hoteliers Director Eastern Division Purnima Patel, gave Rep. Jennifer McClellan (R-VA) a tour of an AAHOA Member-owned extended-stay hotel in Petersburg, VA. Rep. McClellan got a tour of the property and gained new insights into the hospitality industry.
On Monday, April 29, AAHOA Northwest Regional Director Taran Patel gave Rep. Dan Newhouse (R-WA) a Back-of-the-House tour at a Courtyard by Marriott in Pasco, WA. During this tour, several important industry issues were discussed with Rep. Newhouse.
Congratulations to AAHOA Lifetime Member Ricky Patel for his appointment by Los Angeles County Supervisor Janice Hahn to the Los Angeles County Consumer Affairs Advisory Committee. This committee advises the Director of Consumer Affairs regarding the need for changes in procedures, programs, or legislation to protect consumers and methods for more effective consumer education.
"This Commission is critical to helping LA County educate and, above all, protect consumers," Hahn said in an article in the Downey Patriot. "Ricky has the experience and the commitment to the public good that we need. I'm thankful to have Ricky's input on this important body."
Unite. Innovate. Elevate.
The AAHOA Regional Conferences & Trade Shows are getting a makeover! Now called AAHOA Hotel Owners Conferences & Trade Shows, AAHOA has reimagined these events from the ground up. These changes will bring fresh new ideas and opportunities for current and prospective AAHOA Members.
Reasons to attend:
Stay tuned for more exciting updates about the AAHOA Hotel Owners Conferences & Trade Shows, reinvented and rebranded for 2024.
Featured Content
HerOwnership
After almost three decades of leadership, Baldev Thakor and JD Deva will shift to the title of founders, remaining actively engaged in a strategic and advisory capacity within the company.
Krishna Deva is responsible for driving operations and financial performance across the organization, while Parimal Thakor is focused on the company’s ground-up development and directs all capital projects.
The new president joined the company in 2008, with the new CEO coming aboard in 2019. Throughout their tenures, their joint efforts have molded Maya Hotels’ evolution and fostered its growth, according to the company.
“Parimal and Krishna have been instrumental in the company’s evolution during their time at Maya Hotels,” said Baldev Thakor. “Their dedication to our values and passion for hospitality make them ideal stewards to carry forward our legacy. As they begin this next chapter, we are confident in their ability to uphold our track record of proven results.” Member Testimonial
AAHOA Education
Almost 90% of hotel owners pay more in property taxes than they should. This is because your hotel's market value is not its taxable value. Most hotel owners, management companies, tax assessors, and consultants do not know the difference.
Discover a way to potentially reduce your property taxes and build your net operating income. Join us to hear from Abraham Tieh, director of national commercial property tax, O'Connor & Associates. The webinar takes place from 2-2:30 p.m. EDT, Tuesday, May 7. AAHOA in the News
Featured Club Blue Member
New Orleans-based Gauthier, Murphy & Houghtaling Law has had a leading role in litigation that has shaped the civil landscape in the U.S. for more than 50 years. Their attorneys have extensive experience representing clients in many areas, including business litigation, natural disaster litigation, class actions, insurance disputes, and more and have secured hundreds of billions of dollars (yes, with a "B") in verdicts and settlements for their clients. Check out their website to see how they can help with your legal needs.
Featured Member Benefit
HCareers is a real-time, tech-first solution for both employers and professionals in North America's hospitality industry and has placed more than one million professionals in progressive roles within the industry since 2001. They feature more than 25,000 job listings daily and support more than 4,000 registered employers. Hcareers has revolutionized job matching. Use our score to find the BEST opportunities based on YOUR personal profile. Check out the website and get started today!
Industry News
Currently, roughly eight out of every 10 efforts of workers to unionize is successful. While hoteliers haven't faced this trend en masse just yet, that time is coming experts say.
(Source: CoStar)
While performance in the extended-stay segment of the market decreased in March, the dip was less severe than experts predictedj.
(Source: Hotel Management) Today's Hotelier
In the Market
Truist Securities reports, “Overall U.S. RevPAR was -2.5% y/y for the week ending 4/27/2024, per STR, below the prior week's result of +1.2% y/y and below the trailing 10-week average of +0.1%. Group RevPAR at -13.3% y/y was negatively impacted by Passover beginning on Tuesday, April 23. By comparison, this holiday fell on Thursday, April 6 in 2023. Overall U.S. Sunday-Tuesday RevPAR growth was down 5% to 7% y/y, with the greatest degree of negative impact on the group-heavy Luxury and Upper Upscale segments as they were down 8-14% y/y on those days. Looking at the top 25 markets, Detroit had the highest RevPAR growth, with 26% y/y, as they hosted the NFL draft. Upscale RevPAR: -1.4% y/y; Upper Midscale RevPAR: -1.15% y/y”.
Upcoming Events
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