In response to the COVID-19 crisis, the Treasury and Federal Reserve Board created a new and expanded existing lending programs that will provide up to $2.3 trillion in financing to support the flow of credit to American workers, businesses, states, counties, and cities impacted by the coronavirus pandemic.
CHLA, along with AHLA, AAHOA, state lodging associations and hoteliers from across the country, are respectfully requesting, as part of the new "Main Street" lending facility, that the Treasury and the Federal Reserve act to create a commercial mortgage-backed securities (CMBS) market relief fund with a specific focus on the hotel industry and its dire need for relief in this sector. Hoteliers across the country are unable to meet their CMBS obligations due to the ongoing health crisis and need action.
AHLA has crafted a detailed letter outlining the need for the Treasury and Federal Reserve to ensure hotel industry CMBS concerns are addressed immediately. This is why we need your signature on this letter!
Please use the button below to add your name by Thursday, April 16th at 9:00 AM PST. The longer the Treasury and Federal Reserve delay on addressing the CMBS market, the longer it will take for our industry to receive the support we so desperately need.