Although these are difficult times for all sectors of the travel industry, hotels continue hospitality traditions by opening their doors to medical personnel and hospital patients, providing meals to frontline employees and gifting vacations to essential workers.
While almost 80 percent of hoteliers are approved for financial aid, many argue it may not be enough to rehire staff.
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A recent American Hotel & Lodging Association (AHLA) survey of around 900 U.S. hoteliers showed 95 percent applied for both a Paycheck Protection Program loan and an Economic Injury Disaster Loan.
According to Travel Weekly, 79 percent surveyed say they have received approval for one or the other; however, 50 percent do not believe the loans will allow for the rehiring of their staff.
Reason being is the Paycheck Protection Program loan only allows for eight weeks of coverage for payroll. Businesses are also forced to spend the funds within a short window of time, and some hotels continue to stay closed under government order.
The AHLA, along with other associations, is urging Congress to improve the Paycheck Protection Program. Requests include expanding flexibility for approved use of funding, extending the covered period for the loans through at least the end of the year and raising the loan limit, among others.
In addition to preparing financially for a post-coronavirus world, the AHLA recently introduced its “Safe Stay” approach to health and safety protocols so travelers understand what hotels and resorts are doing behind the scenes to keep everyone safe and healthy.
