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...