Archive March 2020

Covid-19 Resource Update

ELFA recently sent out an e-mail to members covering topics that help to offer immediate financial relief. If you are a member and did not receive this e-mail, please e-mail Executive Director Louis Smith at lsmith.elfa@gmail.com so we can ensure we have a best e-mail address for future ELFA e-mail updates.

With each area, the key has been to be pro-active – acting now before finances and resources make situations more dire and more difficult to overcome.

Financing / Debt Service:
Connect with your lender immediately on payment deferrals (3-6 mo.), interest-only status, or other creative strategies. The banking industry is healthy, unlike the 2008 financial crisis, they are expecting these calls, and to date this is showing to be highly effective for those hoteliers who are pro-actively in contact.

Utilities / Telecom:
Reach out to your local providers of all services and request deferrals, abatements, or other remedies to assist during the next 90-120 days. This may also involve reaching out and connecting to your local legislators and municipal leaders requesting utilities relief. This also is proving highly effective.

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SBA Loans Are Available Now

What You Need to Do to Apply

The following was provided via Choice Hotels Corporate Comuunications.

The Small Business Administration (SBA) introduced significant changes to the loan process that make it easier and faster to obtain funding for your business:

  • Processing time for many has been reduced from 60 days to three weeks or less.
  • Applications are shorter and streamlined.

Do you need help covering your mortgage? Are you able to pay your staff?

These are just some of the issues facing many in the hotel industry right now.

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Helpful Information from Our Friends at CHOC

In our efforts to offer as much helpful and timely information as possible, we wanted to share the following tips that the Choice Hotel Owners Council had recently shared with its membership. Many thanks to CHOC Chairman Sam Patel and Executive Director Cassandra Hill for their assistance during this period.

There is also a FAQ Section following that we at ELFA found very helpful. Please expand below to read more.

Pro-Active Steps:

·        Immediately reaching out to your lender and making sure of the following:

·        Your file is updated;

·        Sharing with your lender information showing revenue declines/reservation cancellations;

·        Asking your lender the process involved for a request for rate reduction, interest only and/or forbearance so that you can start preparing from now.

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Econo Lodge Covid-19 Brand Response Information

ELFA Members,

This is an unprecedented time in our industry and for you as a business owner. We at ELFA are dedicated to providing as much information as possible to members to help best maneuver through this crisis.

We will continue to update elfa.org with relevant and timely information as we gather it. We encourage you to please be diligent in being on the lookout for communications from Choice Hotels. We will work to provide links and other directions to helpful resources as things develop.

If you haven’t recently, please take a moment to visit the Econo Lodge Covid-19 Brand Response Information page. This page will be refreshed regularly so please bookmark it in your system for quick access.

NOTE: The deadline for Eclipse Collection linen program has been extended from July 1, 2020 to January 1, 2021. See Brand Page above.

ELFA leadership will continue to reach out to Choice Hotels leadership on guidance and, most importantly, support for our franchisees as we sail into uncharted territory.

Though it may sometimes feel like we are each alone in this process, please know that you have a family in ELFA to reach out to. We are dedicated to working towards the best possible outcomes for our Econo Lodge franchisee members, and will do our best to achieve that as the situation continues to unfold.

Coranavirus (Covid-19) Update – 12 March 2020

With a rapidly unfolding and changing landscape surrounding the current Coronavirus outbreak and global spread, we wanted to provide easy access to Choice Hotels corporate communications and updates, along with additional information from trusted industry providers.

Choice Hotels Coronavirus Update, with new cancellation policy updates.

Coronavirus (Covid-19) Information and Product Review: Ecolab

Additional Online Resources from Ecolab:
     Presentation Link
Video Webinar
Ecolab Website FAQ
Ecolab Covid-19 Website

ELFA leadership has remained in close contact with Choice Hotels leadership as this industry and health crisis has unfolded. We have witnessed significant drop-offs in reservation activity, both domestic and international, and we all share facing an uncertain landscape on the horizon.

Please be alert for corporate communications from Choice Hotels. ELFA will do its part to assist in getting information out to membership as it becomes available, both via e-mails and information and links posted on elfa.org

Urgent Disruptions: While this crisis is having a significant negative impact on all facets of the travel industry, some locations and areas are under greater threat, and face greater negative impact, than others. If you are facing a severe financial hardship that endangers your business, please feel free to reach out to your ELFA Regional Director with information and updates so that we may best inform Choice and work to try and mitigate dire situations as best as possible. We are here to assist members in any way that we can.