federal update – September 3, 2020

Industry Relief: Congress is still on recess through Labor Day but we must continue to prepare for Congress’ return to ensure that when a final relief package is passed, it includes relief, protection and stimulus for the travel industry.

Urge Congress to pass legislation benefiting the entire travel industry immediately.

TAKE ACTION NOW


AHLA State of the Industry: This week, AHLA published a State of the Hotel Industry Analysis on the economic and human struggle the hotel industry continues to face six months into the COVID-19 pandemic to increase urgency for Congressional action.

Key findings of the report include:
4 out of 10 hotel employees are still not working.
Almost two-thirds (65%) of hotels remain at or below 50 percent occupancy, which is below the threshold at which most hotels can break-even and pay debt.
Consumer travel remains at all-time low, with only 33 percent of Americans reporting they have traveled overnight for leisure or vacation since March and just 38 percent saying they are likely to travel by the end of the year.
Urban hotels are suffering the most and facing collapse with cripplingly low occupancies of 38 percent, significantly below the national average.
COVID-19 has left hotels in major cities across the country struggling to stay in business, resulting in massive job loss and dramatically reducing state and local tax revenue for 2020 and beyond.

In coordination with the report, AHLA sent a letter urging Congress to move swiftly to help the industry through a targeted extension of the Paycheck Protection Program, establishing a commercial mortgage backed securities market relief fund, and making structural changes to the Main Street Lending Facility to ensure hotel companies can access the program.

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UNDER CONSTRUCTION

Questions? Email info@azlta.com