3.5 million guests stay at 34,260 AAHOA hotels, making up 60% of US hotels, each night
Members of Asian American Hotel Owners Association (AAHOA) – largely Indian Americans – have a significant impact on US economy, supporting 4.2 million jobs with $214.6 billion in wages, according to a new study.
As many as 3.5 million guests stay at 34,260 AAHOA hotels, making up 60% of US hotels, each night, according to the study conducted by AAHOA in partnership with Oxford Economics.
These guests would fill all 30 NFL stadiums + all 31 MLB stadiums, says the study on the economic impact and industry influence of the association’s nearly 20,000 members.
The study analyzed the share of US hotels and rooms owned by AAHOA members, hotel operations, hotel guest ancillary spending, capital investment, and indirect and induced impacts supported by AAHOA hotels in other parts of the US economy.
Read: AAHOA Vice Chairwoman Jagruti Panwala honored (November 22, 2018)
The study’s topline results were presented to AAHOA Members during the general session on the first day of the 2021 AAHOA Convention & Trade Show on Aug 3 at the Kay Bailey Hutchison Convention Center, Dallas.
“This study gives us the clearest picture to date about the scale, reach, and economic impact that AAHOA Members have in the United States,” said AAHOA Chairman Biran Patel.
“It is remarkable how far AAHOA Members have come since the association’s founding in 1989 when a small group of hoteliers banded together to fight discrimination,” he said.
“That commitment to helping hoteliers grow their businesses and realize the American Dream is reflected in the impressive numbers revealed today,” Patel said.
“We are proud of what our Members have accomplished and remain committed to being the foremost resource and advocate for America’s hotel owners.”
“The findings laid out in this new study are a testament to the strength and influence of AAHOA Members and serve as yet another reminder of hotel owners’ vital economic contributions to communities across the nation,” said AAHOA Interim President & CEO Ken Greene.
“AAHOA Members are the heart and soul of the hospitality industry and will continue to play an essential role in our nation’s economic recovery,” he said noting guests at AAHOA hotels spend billions of dollars in local economies.
AAHOA Members employ as many workers as FedEx and Home Depot – combined, and the 1.1 million employees who work at AAHOA Member hotels earn $47 billion annually, Greene said.
The study shows that AAHOA supports a total economic impact of:
- $368.4 billion contributed to US GDP
- $139 billion of hotel sales annually
- $96.8 billion of federal, state and local taxes
- $50 billion in purchases from suppliers each year
- $24 billion capital investment including reinvestment and new development
- 4.2 million jobs with $214.6 billion of wages
- AAHOA hotels support tax revenue of $789 in federal, state, and local taxes and $402 in state and local taxes per US household
- AAHOA members share of us properties by hotel class: Economy 65.9%; Upper Midscale 61.7%; Midscale 56.6%; Upscale 50.7%; Upper Upscale 46.8%; Luxury 40.7%.
The study based on two-year research with a deep dive on a sample of 5,000 hotels has a +/-1.4% margin of error.