Folio has been designated as the official technology platform for the AAHOA Marketplace, enhancing the purchasing and billing experience for the association’s members.
The Asian American Hotel Owners Association (AAHOA), the largest hotel owners’ association globally with over 20,000 members—predominantly Indian American—has announced that Folio will serve as the official technology platform for the AAHOA Marketplace.
This collaboration was unveiled during AAHOACON26, held in Philadelphia from April 8 to 10. Folio, a prominent financial operations platform, is set to launch an updated version of the AAHOA Marketplace later this year. This initiative aims to improve the purchasing and bill payment experience for AAHOA members, who collectively own 60% of the hotels in the United States, according to a media release.
Initially announced at last year’s AAHOACON, the AAHOA Marketplace, powered by Avendra International and bolstered by AAHOA’s collective buying power, provides hotel owners with access to trusted, high-quality products and services at reduced costs.
Key features of the upcoming Marketplace include:
Enhanced purchasing capabilities, allowing members to easily restock or shop across suppliers from a single platform;
Mobile optimization, enabling members to buy, track, and manage orders directly from their smartphones;
Rewards programs, where members can opt to receive cash back on qualified purchases and streamline their billing through Folio Pay;
Improved accounting features, including automatic reconciliation and spend categorization, enhanced by Folio’s AI technology.
The AAHOA Marketplace will continue to be free for all members and will be pre-loaded with exclusive deals and discounts tailored for AAHOA members, as stated in the release.
“The custom-built version of Folio will not only accelerate the delivery of savings in the AAHOA Marketplace but also provide a vital segment of the industry with access to powerful operating and payments technology,” said Folio CEO Kate Adamson.
“AAHOA members deserve the best technology and procurement solutions. Folio brings us closer to achieving that goal,” remarked AAHOA Chairman Kamalesh (KP) Patel. “By combining our strengths, Folio will simplify the process for our members to save both time and money.”
“This is a significant win for our members,” stated AAHOA Vice Chairman Rahul Patel. “The technology offered by Folio has traditionally been available only to the largest hotel groups. Together, we are creating a tailored solution for AAHOA members.”
“It is evident how Folio will enhance the procurement experience,” noted AAHOA President and CEO Laura Lee Blake. “The planned updates to the platform will enable members to discover more supplier deals and maximize their savings.”
AAHOA’s 20,000 members account for 60% of the hotels in the United States and contribute 1.4% to the nation’s GDP, according to the release. More than 1 million employees work at AAHOA member-owned hotels, generating $51.3 billion in annual earnings, and these hotels support 4.2 million jobs across various sectors of the hospitality industry.
The announcement of Folio as the official technology platform marks a significant step forward for AAHOA members, promising enhanced efficiency and savings in their operations.
According to The American Bazaar.