AAHOA HAS ALWAYS stood up for its members based on the perceived large portion of the hospitality market they make up. A new study commissioned by the association now quantifies this perception, specifically highlighting the economic impact of Asian-American owned hotels at the local, state, and state levels.
AAHOA announced the study results during the general session on the first day of the 2021 AAHOA Convention & Trade Show at the Kay Bailey Hutchison Convention Center, Dallas. The study, conducted by Oxford Economics, analyzed the proportion of U.S. hotels and rooms owned by nearly 20,000 AAHOA members, hotel operations, hotel guest ancillary expenses, capital investments, and the indirect and induced effects of AAHOA hotels elsewhere the US economy.
It found that AAHOA’s 34,260 member hotels make up 60 percent of all hotels in the United States, providing 3.1 million guest rooms and 2.2 million direct impact workplaces.
“The results of this new study are testament to the strength and influence of AAHOA members and are a reminder of the important economic contribution hotel owners make to communities across the country,” said Ken Greene, AAHOA interim president and CEO. “Guests at AAHOA hotels spend billions of dollars on the local economy. AAHOA members employ as many people as FedEx and Home Depot put together, and the 1.1 million employees who work at AAHOA member hotels make $ 47 billion annually. AAHOA members are the heart and soul of the hospitality industry and will continue to play an essential role in our country’s economic recovery. “
The study also found that AAHOA member-owned hotels generated $ 680.6 billion in business revenue, including revenue and sales and lodging taxes. They support 4.2 million jobs with $ 214.6 billion in wages, salaries, and other allowances, and add $ 368.4 billion annually to U.S. GDP and $ 96.8 billion in federal, state and local taxes.
Greene said the results of the analysis surprised him particularly in some cases. For example, the idea that more than 89 percent of Texas hotels are owned by AAHOAA members.
“If you look at the actual borough, each borough and what that means, there are real, solid numbers, data that we can turn to state and local politicians and say, these are your voters, these are the people, the jobs move forward. “in your areas,” he said. “We have a voice and it’s just not a nebulous, ‘Hey, we own a lot of hotels and we have a lot of numbers. It’s a very specific number. And that’s why I think this is really a game changer for us. “
The study paints a clear picture, said Biran Patel, chairman of the AAHOA.
“It is remarkable how far AAHOA members have come since the association was founded in 1989 when a small group of hoteliers came together to fight discrimination,” he said. “This commitment to helping hoteliers grow their businesses and make the American dream come true is reflected in the impressive numbers released today.”
Having the study in hand gives the association more credibility to lobbying the government, brands and other stakeholders, said Vinay Patel, AAHOA vice chairman, at the end of the conference Change to the chair.
“Now I feel like we have the data, the tools behind us to make smart decisions on behalf of our members and the industry as a whole,” said Vinay.