cecil staton
AAHOA President & CEO Cecil Staton Talks Politics and the Campaign to Assist Hoteliers
Fran Worrall | November 12, 2020
The Asian American Hotel Owners Association (AAHOA) is the nation’s largest hotel owners association, representing nearly 20,000 members who own almost one in every two hotels in the United States. With billions of dollars in property assets and hundreds of thousands of employees, AAHOA members are core economic contributors in communities across the country. Recently, Hotel Online talked with AAHOA President & CEO Cecil Staton about the association’s ‘10,000 Letters, One Purpose’ campaign, which encouraged hoteliers to engage with members of Congress and the White House to implore them to pass a stimulus package that would eas...
Report: Hotel Industry Facing Historic Wave of Foreclosures
AHLA | August 18, 2020
WASHINGTON (August 18, 2020) – A new national report shows that the hotel industry is facing a historic wave of foreclosures as the COVID-19 pandemic continues to devastate small business hotel owners and its workforce. Since the beginning of the pandemic the hotel segment has faced a historic number of delinquencies and is the most heavily hit sector of the commercial mortgage-backed securities (CMBS) market. Nearly 4,000 hotel industry leaders sent an urgent letter to Congress urging immediate action to help hotels avoid foreclosure and the loss of tens of thousands of jobs. The report, compiled by Trepp, shows that the percentage of...
America’s Hotel Owners Optimistic About HOPE Act
AAHOA | August 3, 2020
WASHINGTON, D.C., August 3, 2020 – AAHOA President & CEO Cecil P. Staton issued the following statement in response to the introduction of the Helping Open Properties Endeavor (HOPE) Act of 2020, a bill to provide relief to small businesses, like hotels, who hold commercial mortgage-backed security (CMBS) loans. The legislation would require the Department of Treasury to establish a facility to guarantee certain preferred equity investments in CMBS borrowers impacted by COVID-19: “Many of AAHOA’s members, the small business owners who run local hotels, use CMBS loans. This crisis hit them hard, and there is no other relief for th...
