Hotels were one of the first industries affected by COVID-19 and today, the American Hotel & Lodging Association released new data showing that 70%of hotel employees have been laid off or furloughed as eight in 10 hotel rooms across the nation remain empty. The impact on the travel industry is nine times worse than 9/11, with forecasted occupancy rates for 2020 hitting record lows worse than rates in 1933 during the Great Depression.
How to move forward?
The CARES Act was an important first step with a lot of supportive measures for the hotel industry, but we need Congress to make important changes to the program to reflect the current economic reality and help hoteliers keep their doors open and rehire employees.
