Ed Brock is an award-winning journalist who has worked for various U.S. newspapers and magazines, including with American City & County magazine, a national publication based in Atlanta focused on city and county government issues. He is currently senior editor at Asian Hospitality magazine, the top U.S. publication for Asian American hoteliers. Originally from Mobile, Alabama, Ed began his career in journalism in the early 1990s as a reporter for a chain of weekly newspapers in Baldwin County, Alabama. After a stint teaching English in Japan, Ed returned to the U.S. and moved to the Atlanta area where he returned to journalism, coming to work at Asian Hospitality in 2016.
THE CORONAVIRUS AID, Relief, & Economic Security Act, a $2.2 trillion stimulus package signed into law March 27 by President Trump includes several provisions advocated for by hotel companies and associations including AAHOA and American Hotel & Lodging Association. However, the leaders of those associations say more is needed.
According to AHLA, positive elements of the CARES Act include:
$349 billion in small business loans
Expanded unemployment insurance, tax rebates and business tax provisions
Funding for hospitals, healthcare facilities and providers
“There is one challenge that makes the current plan unworkable for hoteliers. The legislation limits an SBA loan to 250 percent of average monthly payroll,” Rogers said. “This limit will not allow a business owner to meet both payroll and debt service obligations beyond an estimated four to eight weeks. Consequently, it will result in furloughing the very workers the bill seeks to protect. Since the measure reduces debt forgiveness with any reduction in payroll, hoteliers would be forced to use the entire loan amount on payroll, at the expense of debt service. The harsh reality is that travel restrictions and mandated business closures remain in place. The outlook for the foreseeable future is zero revenue for most hotels. If a hotelier cannot make debt payments the business will go under and the jobs are lost.”
“This historic relief package provides immediate liquidity for small business owners and their employees as they struggle with the crippling economic effects of the COVID-19 pandemic,” Staton said. “Next, we must simultaneously navigate the regulatory and administrative hurdles that may crop up during the implementation of this law while continuing our conversations with lawmakers and administration officials about additional steps the government must take to ensure hotel owners can maintain access to capital throughout the duration of this crisis.”
There were several delays in Congress’ passing of the bill as Democrats pressed for changes, but a deal was reached on March 25.
Sonesta launched Americas Best Value Studios, an extended-stay version of ABVI.
The model targets owners seeking limited front desk and housekeeping.
The brand meets demand for longer-term, value-focused stays.
SONESTA INTERNATIONAL HOTELS Corp. launched Americas Best Value Studios by Sonesta, an extended-stay version of its franchised brand, Americas Best Value Inn. The model targets owners seeking limited front desk and housekeeping, optional fitness center and lobby market along with standard brand requirements.
The brand aims to address the growing demand for longer-term, value-driven accommodations, Sonesta said in a statement.
"Americas Best Value Studios by Sonesta represents a strategic evolution of our trusted Americas Best Value Inn brand," Keith Pierce, Sonesta’s executive vice president and president of franchise development, said. "We are expanding our offerings to directly address the increasing demand within the extended-stay segment, providing a practical solution for travelers seeking longer-term lodging at value. This new brand type allows our local franchised owner-operators to tap into a growing market while maintaining the community-focused experience that Americas Best Value Inn is known for."
ABVI has a majority presence in secondary and tertiary markets, the statement said.
The extended-stay brand’s operational model features a front desk, bi-weekly housekeeping, on-site laundry and pet-friendly accommodations, Sonesta said. Guests can also earn or redeem points through the Sonesta Travel Pass loyalty program.
In August, Sonesta named Stayntouch its preferred property management system after a two-year review of its ability to support the company’s franchise model. The company operates more than 1,100 properties with more than 100,000 rooms across 13 brands on three continents.
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