A new survey of American Hotel & Lodging members says nearly half of hotels will close by the end of the year—if they don’t get more government assistance, like a second PPP loan or expansion of the Main Street Lending Program.
Without more help, 71 percent said they won’t make it another 6 months. Seventy-seven percent said they’ll have to lay off more workers. And over one-third said they’ll either face bankruptcy or be forced to sell.
The President and CEO of AHLA, Chip Rogers, is urging Congress to quickly pass additional relief measures. He says every hour it doesn’t act, hotels lose 400 jobs.
Over 1,200 owners, operators, and employees responded to the survey.