The American Hotel & Lodging Association confirmed that they’d requested aid from US Congress, which follows after the COVID-19 pandemic has inflicted financial despair onto multiple brands. Several categories are emphasized in their request, including that Paycheck Protection Programs be extended. It’ll ensure that active personnel receive finances during the pandemic.
AHLA Executives have requested that liquidity measures through lending facilities be permitted, with specific provisions to the taxation of those funds via legislation reforms. US Congress accepting AHLAs request could allow hotels to sustain operations even as profits decline month-to-month. Reserve funds with various brands will be redirected towards the protection of guests, workforces, and cleanliness of their overall facility. Having their request met could result in the American Hotel & Lodging Association creating a marketing campaign, which would help incentive US Citizens to travel within their nation.
The Bureau of Labour Statistics in America reports that 4.8 million jobs in the hospitality industry have been terminated since February 2020. This number is higher than all other US workforce sectors combined, including retail & manufacturing. Hotel brands want to rehire their lost workforces to ensure their financial survival throughout the pandemic. That won’t be possible unless US Congress agrees to their request. Under the Trump Administration, AHLA Executives are concerned that they’ll be faced with denial.
The AHLA Chief Executive Officer, Chip Rogers, provided clarification onto why financial aid was requested from Congress. He emphasized that their industry is an economic driver, allowing for billions in tax revenues to be earned & millions of jobs to be created. Chip Rogers believes that restarting the American economy will begin by supporting the America Hotel & Lodging Association. CEO Rogers finalized his sentiments by indicating its Congresses job to review which industry is most in need of assistance.
The four key points in AHLAs request are listed below:
- Extending the Paycheck Protection Program, allowing impacted hotels or lodges to support their workforces financially.
- Sustain relief opportunities through the Federal Reserve & Treasury.
- Design a Commercial Mortgage-Backed Security for the hotel industry, distributed through the Federal Reserve Lending Program.
- Lower liabilities for hotels and lodges that are abiding by public health protocols, not penalizing them when a guest contracts COVID-19.