hotel insurance
AAHOA Engages Arkansas Insurance Commissioner to Tackle Insurance Challenges Facing Hoteliers
AAHOA | May 6, 2024
Little Rock, Ar., May 6 – AAHOA (Asian American Hotel Owners Association) recently hosted a Hospitality Insurance Forum with leaders in Arkansas to address the industry's significant insurance challenges plaguing hoteliers. The forum centered on developing creative strategies to alleviate the burden of insurance premiums, facilitating greater access to insurance resources, and fostering an environment of increased accessibility. To advocate for the interests of its diverse membership base, AAHOA assembled more than 30 hoteliers, all of whom were lifetime members of the association, to provide critical insights and challenges that small b...
Hotel Insurance – A Largely Uncontrollable Cost
Robert Mandelbaum | April 19, 2022
To analyze recent changes in hotel insurance costs, and the factors that influence those changes, we examined the operating statements of 3,156 U.S. hotels that reported insurance expenses for the Trends® survey each year from 2015 through 2021 (estimated). By Robert Mandelbaum & Tom Cleary In 2020 and 2021, U.S. hotel operators did a praiseworthy job controlling expenses to offset the significant declines in revenue. Based on data from CBRE’s Trends® in the Hotel Industry survey of annual operating statements from thousands of properties across the U.S., not only have we seen a reduction in the variable expenses associated wi...
Can Hotels Claim Business Interruption Insurance Due to a Pandemic?
HotStats | January 7, 2021
Does a pandemic qualify for business interruption insurance? It’s a question hoteliers shouldn’t be asking themselves, but rather, their insurance company. COVID-19 was swift and pernicious, bringing the hospitality industry to its knees. As hotels find their footing, filing a business interruption claim with their insurer is of the essence, regardless of the ambiguity over whether a pandemic qualifies a business for such relief. Insurers, unsurprisingly, have denied the vast majority of these claims, which have in turn triggered scores of lawsuits asking courts to make insurers honor their contracts. Insurance companies contend t...
Impact of COVID-19 on Hotel Insurance Premiums: Are Refunds Possible?
Alex Sogno | June 5, 2020
With many hotels closed worldwide, hotel owners and investors are rightfully looking to their insurance policies for compensation after the pandemic. This article focuses on how to go about adjusting the settings on premiums in order to secure justifiable rebates. By Alex Sogno Much has already been written about insurance issues arising from the Covid19 virus. With many hotels closed throughout the world, it’s inevitable that hotel owners/investors are looking to their insurance policies for compensation under the Business Interruption section. But, sadly, for almost all hotels the probability is that their Business Interruption wordin...
