ppp
AHLA and SBA Secure PPP for Hotel Industry
AHLA | June 15, 2023
Eligibility changes protect loans to tens of thousands of hotels WASHINGTON (June 15, 2023) – American hotels will benefit from an important update to the Paycheck Protection Program (PPP). Following months of collaboration with the American Hotel & Lodging Association and hotel owners across the country, the Small Business Administration (SBA) issued new PPP eligibility guidelines today. The update clarifies that hotel owners who utilized third-party management companies and participated in PPP are eligible for PPP loan forgiveness for payroll expenses they paid via a management company. The changes SBA announced today will ens...
Omni Hotels & Resorts Paid Out Over $50 Million in Payroll Expenses Directly to Its Associates
Omni Hotels & Resorts | January 4, 2021
Funds were appropriately used as intended by legislation As a privately held company, Omni Hotels & Resorts generally does not disclose financial information; however, as the president of a company I love so dearly, I cannot sit idle as our integrity is attacked. UNITE HERE, a union representing a limited number of Omni’s employees, has implied that Omni Hotels has misused government funds or otherwise abused the Payroll Protection Program loan program. This is simply not true. As we all know, COVID-19 has swiftly and significantly impacted the entire world, and has wreaked havoc on the hospitality industry. As a result, I, along ...
Hotel Industry, Reeling From Covid-19 Economic Fallout, Lays Out Priorities for Covid 4.0
AHLA | July 21, 2020
Hotels Still Below 50% of Pre-COVID Staffing; Industry Calls for Increased Liquidity Measures & Targeted Tax Provisions Click here to download the letter WASHINGTON (July 21, 2020) – As lawmakers consider additional legislation to address the ongoing health crisis and economic fallout from COVID-19, the American Hotel & Lodging Association (AHLA) sent a letter to Congress calling for additional help in several areas, including extending the Paycheck Protection Program (PPP) for severely impacted businesses and their employees, creating targeted lending facilities and liquidity measures to help hoteliers meet debt service, ...
Ashford Group of Companies to Return PPP Funds
Ashford Group | May 4, 2020
DALLAS -- May 4, 2020 -- The Ashford Group of Companies announced today that all of its companies, including Ashford Inc. (NYSE American: AINC), Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust"), and Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar"), will return all funds provided by the Small Business Administration's ("SBA") Paycheck Protection Program ("PPP") due to the agency's recently changed rules and inconsistent federal guidance that put the companies at compliance risk. Federal Government assistance is required to repair the most significant damage in history to U.S. hotels and hospitality businesses cause...
