AH&LA'S New Member Benefit Assists Hotels With Recovering Overcharged Fees From Credit Card Companie
WASHINGTON, DC, November 8, 2005. The American Hotel & Lodging Association (AH&LA) and Spectrum Settlement Recovery have partnered to assist AH&LA members recover overcharged fees from Visa and MasterCard.
From October 1992 through June 2003, Visa and MasterCard regularly overcharged merchants for debit and credit card processing services. In 2003, Visa and MasterCard reached a settlement agreeing to pay businesses a total of $3 billion in damages. By law, the entire $3 billion will be divided among those who file a claim. If merchants do not file, their portion will be distributed equally among those who do. It is estimated that a merchant who had approximately $4 billion in Visa and MasterCard transactions during that time period, could expect a refund of about $1,800, depending on their business profile. AH&LA members receive a special rate on claim filing services-30 percent off an approved claim.
"This is a significant financial opportunity for our members," said AH&LA President and CEO Joseph A. McInerney. "We are grateful to Spectrum for developing a process that makes filing a recovery claim quick and simple."
AH&LA members have until November 28 to file a claim.
Members may register a claim online with Spectrum at http://spectrumsettlement.com/claims/ahla/ or call a Spectrum Asset Recovery Specialist at (877) 757-2845.
For more information, contact Jessica Lytle, AH&LA senior director of member services, at jlytle@ahla.com or (202) 289-3142.
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CONTACT:
Enica R. Thompson (ethompson@ahla.com)
AH&LA is a 95-year-old dual membership association of state and city partner lodging associations throughout the United States with some 10,000 members nationwide, representing more than 1.3 million guest rooms. Headquartered in Washington, D.C., it provides members with advocacy on Capitol Hill, public relations and image management, education, research and information, and other services to ensure a positive business climate for the U.S. lodging industry. Individual state associations provide representation at the state level and offer many additional cost-saving benefits.
Enica R. Lewis| Manager of Media Relations| American Hotel & Lodging Association | 1201 New York Avenue, NW, Suite 600, Washington, DC 20005 | Phone: 202.289.3153 | Fax: 202.289.3128 | www.ahla.com
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