Dallas, TX: Members of the Asian American Hotel Owners Association (AAHOA) – largely Indian Americans – now officially own 60 percent of the industry.
The count is based on a new study conducted by AAHOA in partnership with Oxford Economics, a global leader in forecasting and quantitative analysis, 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.
The 34,260 AAHOA Member-owned hotels account for 60 percent of all hotels in the US, 3.1 million guestrooms, and 2.2 million direct impact jobs.
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. “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.
“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. 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.”
The study shows that AAHOA supports a total economic impact of:
● $680.6 billion of business sales (representing revenue plus sales and lodging taxes)
● 4.2 million jobs with $214.6 billion of wages, salaries and other compensation
● $368.4 billion contributed to US GDP
● $96.8 billion of federal, state and local taxes
“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. That commitment to helping hoteliers grow their businesses and realize the American Dream is reflected in the impressive numbers revealed today. We are proud of what our Members have accomplished and remain committed to being the foremost resource and advocate for America’s hotel owners.”