50 Of The Worst Hotel And Airbnb Fails

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Something tells me, however, that we shouldn't expect hotels and Airbnbs to fix these problems anytime soon. Their main priority right now is survival. In November, 71% of hoteliers said they won't make it another six months without further federal assistance given current and projected travel demand, and 77% of hotels reported they will be forced to lay off more workers. Without further government assistance, nearly half (47%) of respondents indicated they would be forced to close hotels. More than one-third of hotels said they will be facing bankruptcy or be forced to sell by the end of 2020.

The package includes a second round of PPP funding and other benefits that will help the hospitality industry.

"The legislation contains many of the provisions AHLA has advocated for, including a second round of Paycheck Protection Program loans, increasing the size of PPP loans to 3.5 times payroll and making PPP loan expenses tax-deductible," Rogers explained. "This will provide a critical lifeline for hotels and other businesses that have been decimated by the pandemic. Other hotel industry priorities include a one-year extension for Troubled Debt Restructuring (TDR) relief so that banks can continue working with borrowers to gain additional forbearance and debt relief, business meal deductibility through 2022, and expanded Employee Retention Tax Credit."

While this relief is welcome, leaders want to believe that it is just the beginning. "More will be needed to restore the 4.5 million travel jobs lost in the travel and tourism industry, but the process that produced this agreement is hopefully a positive sign for what will be possible to achieve in the next Congress,” Roger Dow, president/CEO, U.S. Travel Association, said.

Anything for you guys. Just save this list and deal with the issues in the pictures after the pandemic is over, OK?

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