The Asian American Hotel Owners Association (AAHOA), the world’s largest hotel owner’s association, with over 20,000 hotel members, the majority of whom are Indian American, has named Folio as the official technology platform of AAHOA Marketplace.
The collaboration kicked off at AAHOACON26 in Philadelphia April 8-10. Coming later this year, Folio, a leading financial operations platform, will launch an updated AAHOA Marketplace, to enhance the purchasing and bill pay experience for AAHOA Members, owning 60% of the hotels in the United States, according to a media release.
Announced at last year’s AAHOACON, the AAHOA Marketplace powered by Avendra International and AAHOA’s collective buying power, offers hotel owners trusted, high-quality products and services, all at reduced costs.
New features of the Marketplace will include:
Easier buying, Folio’s enhanced usability makes it easier for members re-stock or shop across suppliers, all in one place;
Mobile optimization, Folio’s technology makes the Marketplace easy to use on the go. Members can buy, track and manage orders, right from their phone.
Rewards, members can opt in to get cash back from qualified purchases and streamline billing with Folio Pay;
and Smarter accounting, Automatic reconciliation and spend categorization, supercharged by Folio AI.
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The AAHOA Marketplace will remain free for all members and continue to be pre-loaded with exclusive deals and discounts curated for AAHOA Members, the release stated.
“The custom-built version of Folio will not just help accelerate the delivery of savings in the AAHOA Marketplace, but also give a vital segment of the industry access to powerful operating and payments technology,” said Folio CEO, Kate Adamson.
“AAHOA Members deserve the best technology, as well as the best procurement. Folio gets us closer to achieving that,” said AAHOA Chairman Kamalesh (KP) Patel. “With our powers combined, Folio will make it even easier for our members to save both time and money.”
“This is a huge win for our members,” said AAHOA Vice Chairman Rahul Patel. “The technology offered by Folio has typically been reserved for the largest hotel groups. Together, we are all building something custom for AAHOA Members.”
“It is clear how Folio will be able to deliver an easier and more efficient procurement experience,” noted AAHOA President & CEO Laura Lee Blake. “The planned updates to the platform will help members easily find more supplier deals and more member savings.”
AAHOA’s 20,000 members own 60% of the hotels in the United States and are responsible for 1.4% of the nation’s GDP, according to the release. More than 1 million employees work at AAHOA member-owned hotels, earning $51.3 billion annually, and member-owned hotels support 4.2 million U.S. jobs across all sectors of the hospitality industry.