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July 18, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AAHOA News
This week, AAHOA hosted an essential webinar that addressed a topic brought to the forefront by the tragic passing of Hemant Mistry, an AAHOA Member, following a confrontation with a guest.
The webinar is now available on demand on the AAHOA website as a free member benefit.
AAHOA continues its streak in raising impressive PAC contributions at recent Hotel Owners Conferences & Trade Shows.
Get ready to live "la dolce vita" at the 2024 HerOwnership Conference by AAHOA!
After the incredible success of last year's Barbie-inspired Pink Party, sponsored by HBO, we're bringing a whole new vibe to this year's HerOwnership reception to honor the beauty of Redondo Beach.
What Happened: Yet another successful AAHOA event! Kudos to Regional Director Bhavesh N. Patel, our North Central Region Ambassadors, and the entire team for a turbocharged success at the North Central Region Hotel Owners Conference in Indianapolis! The event exceeded expectations, attracting over 100 attendees and raising nearly $10k for AAHOA PAC!
The Big Picture: Speakers were full-speed ahead, much like the racers at the famed Indianapolis Speedway. Attendees heard from Indiana Attorney General Todd Rokita, Red Roof President Zack Gharib, Patrick Tamm, President & CEO of the Indiana Restaurant & Lodging Association, Joe Savarise, President & CEO of the Ohio Hotel & Lodging Association, and Bharat Patel, Chairman & CEO of Sun Development & Management Corporation, for their invaluable contributions as guest speakers.
Click here to see the upcoming Hotel Owners Conferences & Trade Shows.
AAHOA Young Professionals were recently featured in Asian Hospitality Magazine, highlighting contributions from some of the youngest and brightest in the industry.
What Happened: On Wednesday, July 10, AAHOA Member Nilay “Niel” Patel had the opportunity to give a Back-of-the-House tour to Congressman Aaron Bean (R-FL), who serves Florida’s 4th Congressional District. The tour was conducted at Microtel Inn and Suites Jacksonville Airport in Jacksonville, FL.
Why It Matters: During the tour, Patel discussed critical issues impacting small businesses with Congressman Bean, including convening a roundtable discussion in the hotel to talk about an increase in SBA 7(a) loans from $5 million to $10 million.
"The insights and perspectives shared during this tour were invaluable, and I'm optimistic about positive changes on the horizon," said Patel in a LinkedIn post about the tour.
AAHOA expresses gratitude to Congressman Bean for supporting hoteliers and small businesses, the backbone of America's economy.
AAHOA Advocacy in Action
Featured Content
Through new partnerships with CoStar and AHLEI, AAHOA now offers its members exclusive discounts to access a suite of educational offerings for members and your staff.
Deeper Dive:
AAHOA Education
Join us for a fun and dynamic webinar that can help add revenue to your top line. Winning your fair share of Local Negotiated Rate (LNR) and Corporate Negotiated Rate (CNR) business is highly competitive and there are specific strategies that are proven to work better than others. Let us show you what you can do and what you should never do! Too many hotel owners believe getting these contracts is the finish line of the race. In fact, it's just the beginning. Learn how you can make your contracts generate even more room nights through online platforms, global sales teams, travel management companies, and partnerships.
Featured Club Blue Member
As North America’s leading hospitality procurement services provider, Avendra offers AAHOA Members competitive pricing from its 800+ supplier contracts. Earn huge savings on engineering, rooms operations, administrative, replacement FF&E, and more! Check out the website or call 866-AVENDRA and start saving today!
Featured Member Benefit
Group whole life insurance issued by MassMutual offer for AAHOA Members with special underwriting! Elect up to $250,000 with only a few health questions to determine insurability; no medical exam required! (Must be enrolled through BeneChoice.) Also available to AAHOA Members through BeneChoice – additional benefits for your employees that are made available at no direct cost to you/the owner!
Featured Platinum/Silver Partner
Red Roof is a leader in the economy lodging industry with franchised, corporate-managed, and corporate-owned properties, serving millions of guests each year. With coast-to-coast locations, Red Roof has over 360 properties in the U.S. The primary goal at Red Roof is to provide customers with savings without sacrificing comfort. The brand recently completed a $150 million investment to renovate and upgrade hotels nationwide with sleek and modern NextGen® redesign elements.
Industry News
As New York prepares to enforce a ban on single-use plastics, hotels are working to implement solutions that could negatively affect their bottom lines in the short term, though evidence does indicate properties with earth-friendly policies often attract greater numbers of bookings.
(Source: The New York Times) Even as hospitality-specific artificial intelligence solutions evolve, hoteliers are still finding one of their greatest assets to be their flesh-and-blood team members, with labor remaining a key concern for operators.
(Source: CoStar) Today's Hotelier
In the Market
As Truist Securities wrote, “Overall U.S. RevPAR was -5.2% y/y for the week ending 7/13/2024, per STR, below the prior week's result of -0.4% y/y and below the trailing 10-week average of +1.5%. Last week's results were simply quite soft across the board. Our best interpretation was that last week was another example of the post-COVID trend of weak transient and group corporate travel for the weeks surrounding a major holiday (July 4th in this case). That said, results also were soft for leisure-leaning Resort markets and the Economy chain scale (RevPAR y/y: -11.5% and -4.7%, respectively). Top 25 Market results were mixed but on average RevPAR was -7%. Upscale RevPAR: -4.5% y/y; Upper Midscale RevPAR: -3.6% y/y.”
Upcoming Events
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