Cecil Staton has had his hands full to say the least. He has been at the helm of AAHOA, the world’s largest hotel owners association, for just four months.
The new coronavirus outbreak and its devastating effect on the travel industry has hotel owners turning to him for solutions.
This is the third installment of a special report by Lodging Leaders podcast that examines the impact the coronavirus is having on the U.S. hotel industry.
In today’s episode, Staton shares his views regarding the “heartbreaking” decisions owners are having to make in the face of steep business losses and what AAHOA is doing to navigate them through the troubled waters.
Also featured is hotelier Kal Patel, president and CEO of Crestpoint Cos. who wants franchisers to do more in the way of financial relief for franchisees.
Resources and Links
In June, Watermark Lodging Trust, a Chicago REIT, sold its Hutton Hotel in Nashville for $70 million. The price is $7 million less than what the REIT said it paid to acquire and upgrade the hotel seven years ago. A month later, Watermark said it signed a deal in which it sold shares worth $200 read more
As the hospitality industry struggles to mitigate the massive loss of revenue caused by the coronavirus pandemic, hundreds of hotel owners are filing lawsuits to force their property insurance providers to cover their financial casualties. Meantime, state and federal lawmakers are considering legislation that would mandate U.S. insurance companies pay for business losses related to read more