The American Hotel & Lodging Association (AHLA) released a new survey last week that underscores the devastating results for the hotel industry. Seventy-four percent (74%) of hotels would be forced to lay off additional employees and two-thirds of hotels (67%) would not make it another six months if Congress fails to pass another COVID stimulus bill. As a follow up, below is a breakdown of this impact by state. Here is a link to a pdf version of the state by state data and below is a quote from Chip Rogers, president and CEO of the American Hotel & Lodging Association.
Here is a quote from Chip Rogers, president and CEO of the American Hotel & Lodging Association:
“It’s time for Congress to put politics aside and prioritize American workers in the hardest-hit industries. Hotels are cornerstones of the communities they serve, building strong local economies and supporting millions of jobs. Thousands of hotels across America are in jeopardy of closing forever, and that will have a ripple effect throughout our communities for years to come. It is imperative that Congress act now before leaving town, or thousands of small businesses and the jobs associated with them will be lost. The American people cannot wait for relief. Congress needs to act now.”
*Pre-COVID and September 2020 jobs loss figures per Oxford Economics analysis. Potential jobs loss represents estimated if Congress doesn’t extend PPP loans from CARES Act and enhancements to Main Street Lending per AHLA analysis. Hotel closures and foreclosures figures based on AHLA member survey Sept ’20.
