Hotel industry could collapse

Posted 5/28/20

New Bureau of Labor Statistics data shows the hospitality and leisure industry is on the brink of collapse.

Over 7.7 million hospitality and leisure jobs have been lost during the covid-19 …

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Hotel industry could collapse

Posted

New Bureau of Labor Statistics data shows the hospitality and leisure industry is on the brink of collapse.

Over 7.7 million hospitality and leisure jobs have been lost during the covid-19 pandemic, making it the hardest hit industry.

A hotel with 100 occupied rooms per night supports nearly 250 jobs in the community and generates $18.4 million in guest spending at neighborhood shops and restaurants. Hotels generate $186 billion in local, state, and federal taxes each year.

Experts estimate it will be at least 2022 before hotels return to their 2019 occupancy and revenue levels.

The American Hotel & Lodging Association is urging Congress to:

• Extend the Paycheck Protection Program and expand the Employee Retention Credit.

• Protect employees and guests through tax credits for cleaning equipment and personal protective equipment.

• Incentivize Americans to travel again with a temporary travel tax credit.

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