Folio Named Official Technology Platform of AAHOA Marketplace

DURHAM, N.C.--(BUSINESS WIRE)--The Asian American Hotel Owners Association (AAHOA), the world's largest hotel owners association, with over 20,000 hotel members owning 60% of the hotels in the United States, today announced Folio, the financial operations platform built for hospitality, as the official technology platform of AAHOA Marketplace. The New AAHOA Marketplace, coming later this year, powered by Avendra International and AAHOA’s collective buying power, offers hotel owners trusted, high-quality products and services, all at reduced costs. It was announced at last year’s AAHOACON.

Coming later this year, Folio will launch an updated AAHOA Marketplace, to enhance the purchasing and bill pay experience for AAHOA Members. New features of the Marketplace will include:

• Easier buying: Folio’s enhanced usability makes it easier for members to 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
• Smarter accounting: Automatic reconciliation and spend categorization, supercharged by Folio AI

The AAHOA Marketplace will remain free for all members and continue to be pre-loaded with exclusive deals and discounts curated for AAHOA members.

“We have been blown away by the passion and dedication that AAHOA Members have for their guests and their operations, and we are honored to support their work,” said Folio CEO Kate Adamson. “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.”

“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.”

“AAHOA has been laser-focused on finding great collaborators to co-create programs that support our members,” noted AAHOA President & CEO Laura Lee Blake. “It is clear how Folio will be able to deliver an easier and more efficient procurement experience. The planned updates to the platform will help members easily find more supplier deals and more member savings.”

The collaboration kicks off at AAHOACON26 in Philadelphia April 8th-10th, where AAHOA members can visit Folio at Booth #2032 during the show to get a peek into the new Marketplace coming soon.

Today, Members can sign up for the existing AAHOA Marketplace here. They can also sign up for a demo of the new marketplace features and get notified when it launches later this year here.

About Folio

Folio is an award-winning financial operations platform that helps properties turn back-office complexity into competitive advantage with a modern, all-in-one procure-to-pay solution which includes; Folio Buy: a centralized, managed marketplace, Folio Inventory: fast counting and asset accounting, Folio Bills: AI-driven invoice processing, and Folio Pay: streamlined payments via virtual card, check, and ACH. Folio’s AI-powered workflows save teams time and money with rapid implementations. Two years post-launch, Folio powers hundreds of hotels and is on track to power nearly a billion dollars in annual purchasing volume.

About AAHOA

AAHOA is the largest hotel owners association in the nation, with Member-owned properties representing a significant part of the U.S. economy. 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. 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. AAHOA's mission is to advance and protect the business interests of hotel owners through advocacy, industry leadership, professional development, member benefits, and community engagement.