LODGING LEADERS
264 | Seeking Signs of Relief: Hoteliers wade through financial aid programs and proposals
LODGING LEADERS
As the recognized COVID-19 outbreak in the U.S. and the nation’s subsequent shutdown approaches its fifth week, hotels and other small businesses are seeing some relief ahead.
Federal financial aid is coming in the form of loans and grants from the Small Business Administration.
In the past week, hundreds of thousands hotel owners have filed applications with their SBA-approved lenders for the $350 billion Paycheck Protection Program.
But when hotel owners and operators will see the money is anyone’s guess as both banks and small-business owners report being overwhelmed with the filing process.
Meanwhile another group of hotel owners feels left out in the cold. These are investors holding billions of dollars in CMBS debt. Many debtors are in default with more expected as May and June mortgage payments come due with no financial intervention on the horizon.
In this episode, part 11 of Lodging Leader’s special report on the coronavirus crisis and its impact on the hotel industry, we explore the state of the SBA rescue package as well as what is or is not being done to help CMBS debtors save their businesses from default.
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271 | Clean Breaks: Hotels face new expectations of health and safety in the age of COVID-19
The U.S. hotel industry has begun its comeback as all states are reopening their economies. The numbers show that occupancy is slowly but steadily increasing as hotels get back to business. But, to be sure, it is not business as usual. Relatively few hotels completely closed during the coronavirus pandemic. More than 80 percent remained read more
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270 | Critical Messages: Hotel marketing in the wake of COVID-19
With more than half of the states in America reopening their economies, owners and operators of lodging accommodations might be tempted to return to business as usual. That includes sales and marketing strategies that management was deploying before the coronavirus pandemic paralyzed the hospitality industry. But hotel marketing experts we interviewed say business will be read more