Navigating Hospitality Development with Congressman Aaron Bean at LendingCon

Glenn: Hey, everybody, it’s your hospitality. Friend Glenn reporting from Lending Con in Orlando, Florida. I’m excited because I have Congressman Aaron Bean with me where we just got off stage talking about the issues affecting you when it comes to hospitality development. Thanks so much for talking with me, Glenn.

Congressman Bean: It’s great to be here. You made it easy up there. I think you’re a natural. You would think you’ve been doing it for 30 years right now.

Glenn: You think? But it’s only been 28. So there you go. There you go.

Congressman Bean: Good, good. First of all, let’s tell your folks at home it’s very hard work being in the Florida sun Where poolside at the Rosen Center Hotel. This is why I.

Glenn: Don’t like politicians, because they mess with me. They ruined my life. I told my wife I was working Congressman.

Congressman Bean: Oh, it’s it is it is work. There’s 800 leaders in the hospitality industry, hotel motels here getting fired up, and I, I tell you what we’ve heard from I is going to be really big. But, Glenn. Yeah, you and I talk backstage. Nothing takes the place of human interaction, right? Leadership. And just making that exceptional experience when you check in or when you’re when you’re there, you just want to be relaxed.

Glenn: Yeah. And and that is why it’s so important that hoteliers have access to capital in order to be able to create more great experiences that help drive our economy. How are you helping hoteliers find success through getting them cash?

Congressman Bean: Well, we’re looking at changes to the Small Business Administration loan program, including actually just raising the cap of what’s lent, but really just taking away the red tape. It’s getting harder and harder to borrow money. Part of it the current administration is tightening the, the the whatever. They’re tightening to make it harder. But we want to take that off. We want to eliminate that red tape because the hotel we learned today just what a powerhouse industry, hotels, motels, tourism in general is rocking. One of the.

Glenn: Things that I find that I hear about banks is they only have X amount of dollars per sector. So I don’t understand that because if the hospitality sector is doing so great and the deals are going so great, then the banks should want to be able to get behind that. And I think that’s why you were emphasizing today relationships with local banks 100%.

Congressman Bean: And for that bank, they don’t want to put all of their eggs in in one and, and under one mattress. They want to be able to actually I guess make sure it’s a healthy economy and they want to be a healthy, healthy balance sheet, but nothing government can do a lot of things, but nothing is more important than you helping yourself by having that relationship with a local banker or bankers with an S, because more than one that portfolio, if they’re filled with loans to hotels, maybe somebody else doesn’t. They can find there’s so many different programs, your local banker should know about them and deliver the best deal for you to make that happen.

Glenn: And while I got you here, one of the other things that we I really tried to emphasize is getting to create relationships with folks like you. What’s the best way to create a relationship with someone like you, that you will really understand what their motivations are and how you could help them be more successful.

Congressman Bean: Well, it starts with an invite to getting invited to a conference or, you know, we’re looking for a place to speak. Can you give us a speak? We’re in the business of the people business. Can you put that invitation out there right now, though, the entire country is running for re-election, so it’s a perfect time to attend a town hall or to go to a some type of rally or an event where you can start meeting people. But make invite people, invite people to come.

Glenn: So if people are in your district and your hotelier, invite them to your hotel. Take them on a tour. Show them the people’s lives that you are helping them be successful because you’re paying their salaries, right?

Congressman Bean: And jobs. It’s about jobs. I’d love to speak to your employees. I’d love to speak to your team. We do town halls in the heart of the house, behind the scenes. Pick it when it’s a slow. When it’s slow time that we can chat. And it lets your employees know that you care about them, and they’re going to have a big decision. We’re all going to have a big decision here. And what and what is it, 92 days? It’s very close to that November election where we’re all going to have a say of what type of country we want to live in.

Glenn: Yeah, and I love the fact that we’re going to have a shorter election cycle this time. That’s the way it should be. I get frustrated when people start running the day after elections. You know, I want to be able to see what they’re going to be able to do. Congratulations on getting to the end of your first term. I hope you get.

Congressman Bean: Hooray, hooray! Come see us, Glenn. Come see us in Washington, D.C. and your your congressman, whoever they are, they’ll they’d love to put out the red carpet for you, just like you do to all your guests.

Glenn: Yeah. Awesome. Thanks for watching. So for the congressman myself. Glenn. Thanks. Be well and we’ll see you next time on another episode of No Vacancy. Be well.