Seemingly overnight, the new coronavirus pandemic has dramatically curbed travel in the U.S. Hotels are feeling the pain as occupancies dropped to historic lows, in some cases down by 80 percent.
The American Hotel and Lodging Association on Monday reported major hotel managers said they’ve laid off or furloughed one million employees.
Long Live Lodging and its Lodging Leaders podcast has put a temporary hold on its once-a-week programming to provide updates throughout the week on specific issues impacting the hotel business.
In this episode of our special report on how COVID-19 is impacting the hotel industry, Lodging Leaders interviewed a hotel owner who is trying to keep his staff onboard. We also talked to consultants who offered advice on how to manage their workforces and make hard decisions during the crisis.
To keep up to date on the impact of COVID-19 on the hotel industry, visit the coronavirus section on our website.
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Resources and Links
In June, Watermark Lodging Trust, a Chicago REIT, sold its Hutton Hotel in Nashville for $70 million. The price is $7 million less than what the REIT said it paid to acquire and upgrade the hotel seven years ago. A month later, Watermark said it signed a deal in which it sold shares worth $200 read more
As the hospitality industry struggles to mitigate the massive loss of revenue caused by the coronavirus pandemic, hundreds of hotel owners are filing lawsuits to force their property insurance providers to cover their financial casualties. Meantime, state and federal lawmakers are considering legislation that would mandate U.S. insurance companies pay for business losses related to read more