Without Aid, 74 Percent of U.S. Hotels Expect to Lay Off More Employees
More than two-thirds of properties say they won't be able to last six more months at the current projected revenue and occupancy levels.
Seven months after the Covid-19 pandemic struck the United States, the hospitality industry is still reeling and the need for federal relief is growing dire. New research from the American Hotel and Lodging Association shows 68 percent of hotels have less than half of their normal staff working full time.
Another study released by the AHLA last month found that unemployment within the hospitality and leisure sector is at 38 percent, nearly four times that of the national average (10.2 percent). In an effort to the save industry, the organization is calling on lawmakers to swiftly pass additional Covid-19 relief.
According to the AHLA, urban hotels have been hit especially hard and are seeing occupancy rates around 38 percent.
Rogers recently indicated that more than 8,000 hotelscould close in September if business travel does not pick up and funding from the Paycheck Protection Program runs out.