AAHOA Applauds President Obama's Decision to Sign the Travel Promotion Act
March 8, 2010 - The Asian American Hotel Owners Association (AAHOA) applauds President Obama's decision to sign the U.S. Travel Promotion Act into law. Signed on March 4, 2010, this new law will establish a multi-million dollar advertising and educational campaign to promote the United States as a desirable international travel destination. In turn, the United States will be able to compete on the global stage for the billions of dollars that come with overseas travelers.
“The travel industry is an invaluable source of revenue for our national economy, but the lag in international travel to the United States has severely impacted it,” said Tarun S. Patel, Chairman of AAHOA and a Board member of the U.S. Travel Association. “Accordingly, the Travel Promotion Act should boost our national economy by attracting 1.6 million new international visitors, creating $4 billion in new spending, and driving $321 million in new federal tax revenue - all at no cost to U.S. taxpayers.”
The lodging industry is feeling the sharp effects of the economic downturn, which is largely due to the decline in domestic and international travel. Countless hotels have been forced to close their doors or have had to engage in drastic downsizing. Between 2008 and 2009, nearly 447,000 travel-related jobs were lost nationally, with more job losses predicted in 2010.
“By passing this bill, Congress and our President have demonstrated their commitment to increasing international tourism to the United States,” said Fred Schwartz, President of AAHOA. “The Travel Promotion Act certainly helps the U.S. lodging industry during a time when every visitor is vital to our industry.”
About AAHOA The Asian American Hotel Owners Association (AAHOA) is THE voice of owners in the hospitality industry. Founded in 1989, AAHOA is now one of the fastest-growing organizations in the industry, with more than 10,000 members owning more than 22,000 hotels that total $60 billion in property value. AAHOA officers include Chairman Tarun S. Patel, CHA; Vice Chairman ChandraKant “C.K.” Patel, CHO; Treasurer Hemant D. “Henry” Patel; Secretary Alkesh R. “Al” Patel, CHO; and President Fred Schwartz, who work closely with a 33-member board of directors to provide direction for the association. AAHOA is dedicated to promoting and protecting the interests of its members by inspiring excellence through programs and initiatives in advocacy, industry leadership, professional development, member benefits, and community involvement.
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