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April 7, 2020

Dear Members,

Last week we shared with you that on Friday, the Prime Minister announced the Canada Emergency Wage Subsidy, which is designed to subsidize 75 per cent of wages for “qualifying businesses.”

Monday, qualifying businesses were defined and includes ALL hotels small, medium, and large, as long as their revenues have decreased by 30 per cent as a result of COVID-19.

The subsidy will cover 75 per cent on the first $58,700 of a person’s wages and it will be backdated to March 15.

We will update you as soon as additional information on access to the subsidy is available.

Summary of the week’s advocacy announcements:

Deferred GST & HST payments, duties and taxes on imports until June 2020

  • This is equivalent of providing up to $30 billion in interest-free loans to Canadian businesses. 
  • Deferred payments to allow businesses to have more liquidity on hand to survive the financial impact of COVID-19.
  • Canada Emergency Wage Subsidy - up 75% of wages

    • The government’s previously announced wage subsidy of 10% has been increased to 75%. Qualifying businesses will include all hotels that have seen a 30 per cent decline in revenue. 
    • CEWS will cover 75% of first $58,700 of workers’ salaries, or up to $847/week.
    • This subsidy will be available for up to three months and retroactive until March 15, 2020, allowing members to keep or potentially re-hire laid off staff. 

    New Access to Credit through Small and Medium-sized Enterprise Loan and Guarantee program 

    • The government announced $12.5 billion of additional support and access to credit through EDC and BDC to help small and medium-sized enterprises with cashflow requirements through the new small and medium-sized Enterprise Loan and Guarantee program. 
    • Businesses can apply for a guaranteed loan through their banking institution to access this additional financial support. 
    Loans of up to $6.25 million will be made available to small and medium-sized businesses in Canada directly through their financial institutions.
  • Canada Emergency Business Account

    • Banks will offer $40,000 loans, guaranteed by the government, to qualifying small businesses and loans will be interest-free for the first year. Qualifying businesses must have payrolls of greater than $50,000 and less than $1 million.
    • If certain conditions are met, a 25% loan forgiveness will be available (up to $10,000).
    • Loans will be available through eligible financial institutions and will be fully guaranteed and funded by the Government of Canada.

    We continue to work hand in hand with our Provincial and Federal Associations to ensure we can represent our industry with a clear message and one voice. 

 
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AUSTIN, TEXAS, USA (April 2, 2020) — In response to the guidance for slowing the spread of Covid-19, Hospitality Financial and Technology Professionals (HFTP®) restructured its 2020 event calendar, moving early 2020 events to the second half of the year, and co-locating them for one eventful week. First it rescheduled the North American Hospitality Industry Technology Exposition and Conference (HITEC®) to October 26-29, 2020, originally set to take place in June. Next, the association relocated its Annual Convention, which was already scheduled for that month, to San Antonio from Minneapolis, Minnesota USA. It will run October 27-29. In addition, HFTP will hold the annual Club Forum and the startup pitch competition Entrepreneur 20X, both on October 26 in San Antonio.

“HFTP is geared to support the hospitality industry with a network of expert resources and education as it begins the process of recovery from the economic impacts of the current pandemic,” said HFTP CEO Frank Wolfe, CAE, FIH. “Providing the ‘Best and Brightest of HFTP’ week will bring together a broad range of stakeholders to share smart, strategic ideas and tools.”  

HITEC San Antonio will continue to offer the same opportunities it annually presents, which has made it a must-attend event for the hospitality industry. Attendees can expect a four-day education program planned and presented by industry experts. In addition to the education program, HITEC San Antonio will feature an exhibit hall hosting over 300 companies. The companies display a range of products and services to support the hospitality technology industry.

The HFTP Annual Convention is the association’s premiere educational and networking event, which also honors HFTP members and the association’s accomplishments. The program features a variety of education sessions focusing on industry finance and technology topics. As a benefit to this year’s unique scheduling, attendees will have the opportunity to participate in several HITEC functions, including attending some of HITEC’s keynote and general sessions, Opening Party and exhibit hall. The Convention will also host its own table top exhibits and food service area especially geared to the Annual Convention attendees called Convention Corner.

"Annual Convention attendees tell us that networking is one of the most important parts of the event,” said Linnet Baskett, HFTP Director of Club Engagement. "Because of the economic impacts on our attendees, we have made some significant changes to help minimize costs and increase networking opportunities. Integrated into the regular program will be awards and buffet networking lunches served in the Convention Corner. In addition, we have switched from formal nighttime activities to topic-focused afternoon meetups and changed the closing membership celebration to a closing reception."

The Annual Convention will still include great speakers and a variety of solutions to everyday industry problems. However, the focused schedule allows attendees to shorten their trip one night with the added value of a reduced registration cost: from $850 to $595 for early registration.    

On October 26, HFTP will host two specialty events: the Entrepreneur 20X startup pitch competition and the Club Forum. Entrepreneur 20X features ambitious entrepreneurs presenting breakthrough business concepts to a panel of expert judges. The competition is open to all HITEC and Annual Convention attendees. That same day the HFTP Club Forum will run, a one-day seminar designed to share ideas and discuss hot topics in an environment created to solve problems and discuss best practices.

For more information about HITEC and HFTP's other international activities, contact the HFTP Meetings & Special Events Department at This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.hftp.org and www.hftp.org/hitec.

 
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April 7, 2020

The Canadian Hotel Advisor Collective was jointly formed by Blake, Cassels & Graydon LLP, Cassels, Brock & Blackwell LLP, CBRE Hotels, CFO Capital, Colliers Hotels, Cushman & Wakefield, HVS and JLL and supported by Big Picture Conferences as a response to the impact of COVID-19 on firms and to act as a centralized source to filter, funnel and direct timely, useful information for industry stakeholders from industry stakeholders during this difficult time.

Initially, we look to accomplish this through recurring informational webinars and a dedicated website with the latest hotel research, data and best practices to help industry participants navigate the daunting business and operational challenges posed by the novel coronavirus. By drawing on our deep hotel industry knowledge and comprehensive network of relationships both nationally and internationally, we hope to bridge valuable information that owners, operators, brands, lenders and government are searching for and provide expertise and insight.

As a collective, we stand by our clients, partners and friends who are facing an unprecedented challenge and together are expressing the support of each of our firms.

We are here to help.

By the end of this week we will have the CHAC website up and running where you will be able to find industry information gathered by the collective. 

www.canadianhoteladvisorcollective.com

Procurement

Hotel owners and operators should be aware that the Government of Canada is seeking, on a priority basis, a number of services that hotel owners may be uniquely positioned to provide. These include food services, laundry services, and accommodation maintenance services. This could provide an important revenue enhancement opportunity for owners who are experiencing a loss of revenue due to the current situation.

Hotel owners are encouraged to go visit the website www.buyandsell.gc.ca and submit their capacity and region with respect to the COVID-19 notice of priority procurements.

 
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April 7, 2020

Dear Members,

Our country, province, and communities are experiencing a crisis of insurmountable proportions that nobody could have anticipated. We have stayed in close contact with key partners and stakeholders during this pandemic to communicate the impact and government announcements to the hotel industry. Importantly, we have also shared the industry’s desire to help and support in these times of need.

The provincial government has come to our industry seeking help to provide accommodation for the essential needs of frontline workers in key communities throughout the province.

Our ask:

British Columbia hotels and accommodation properties are being called upon to provide needed accommodation to essential workers who need to be away from home for extended periods of time to respond to COVID-19, to self-isolate, or meet work demands.

Why?

We recognize the unprecedented business challenge that COVID-19 has brought for the hospitality industry, and also see this as an opportunity for accommodation providers to continue operations and keep your workers employed. During this crucial time for the health and safety of people in B.C., we encourage you to see yourselves as part of the critical infrastructure our province needs to weather this storm.

Specifics:

The provincial government is asking all properties interested in participating to reach out to us below with the required details. They are prioritizing communities based on size and proximity to hospitals, and therefore, not all communities will be required to participate at this time, but this could well change.

If you are interested and available to help support at this time, please email This email address is being protected from spambots. You need JavaScript enabled to view it. with the following details:

  • Property Name
  • General Manager
  • City
  • Phone
  • Email
  • How many rooms you have available, including the number of rooms with:
    • Kitchens
    • Refrigerators
  • Restaurant on site or close by for takeout (yes/no)
  • COVID-19 Rate
  • The team at BCHA is working closely with the provincial government to determine the highest priority needs. Thank you for your continued support of your community, your neighbours, and our essential workers.

 
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GREEN  BAY, WIS. - April 3, 2020 - Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced the completion of an agreement with Lodging Opportunity Fund REIT (LOF REIT) to refinance the Delta by Marriott in Green Bay, WI.

LOF REIT worked with Access Point Financial to secure a $9.2 million loan on the property. The REIT chose APF as its lending partner due to the company's ability to be nimble when working with a limited time budget, its flexible terms, and the degree of certainty that the transaction would close within the required timeframe. APF had 15 days to underwrite, approve and fund the loan with an impending loan maturity of late March. The loan was being underwritten and approved simultaneously as the COVID-19 pandemic continued to evolve in the United States, with subsequent travel restrictions and social distancing policies put in place across the country, directly impacting the hotel industry. 

The hotel was acquired by Lodging Opportunity Fund REIT in 2017 as a Ramada. The property underwent an extensive renovation to reposition as a Marriott-branded hotel, opening its doors as the Delta by Marriott Green Bay on February 14, 2019. The hotel is managed by an affiliate, National Hospitality Services. National Hospitality Services has an extraordinary team of hospitality professionals who are able to put the necessary plans in place to see near and long-term benefits, despite the economic challenges our country is currently facing.

"The Delta by Marriott in Green Bay has been a staple within its market since it rebranded in early 2019, and we are honored to work with Lodging Opportunity Fund in financing this outstanding property," said Lori Tirado, Managing Director, Business Development at Access Point Financial. "We were able to deliver on this project during the most tumultuous and unprecedented period this country has faced in nearly 100 years, specifically because we have the utmost confidence in Lodging Opportunity Fund and their experience in the industry.

Norman Leslie, President & CIO of LOF REIT, commented, "While our organization was certainly aware of the work of Access Point Financial, this was our first direct experience with the organization. We were extremely impressed with their evaluation process and their key interest in meeting our timeline. The team was professional, constructive and, most importantly, performed as a true financial partner. We truly appreciate Access Point and their team and look forward to a long and successful relationship."

For more information on Access Point Financial's comprehensive portfolio of hospitality-focused financial services, Please visit www.accesspointfinancial.com.

 

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