NASHVILLE, Tenn. (WTVF) — With the coronavirus outbreak, less people are staying at hotels. Despite getting help from the federal government, hotel owners are still worried about their future.
The industry is asking for more funding through the Paycheck Protection Program to help them retain their staff during the crisis.
The American Hotel and Lodging Association sent a long letter to prominent members of Congress asking them for more funding and updates to the CARES act to help keep workers. The letter includes 74 pages of signatures, including two full pages of hotel owners from Tennessee.
With revenues down, AHLA is asking to increase the loan limit from 250% average payroll to 800% of all their covered costs.
While PPP loans are designed to help business owners pay labor, mortgage, rent and utilities, there's much more that business owners say needs to be covered somehow. With more funding, they say, it’ll help avoid layoffs.
To put it in perspective of how hard Nashville's hotel industry has been hit during this pandemic, in March, occupancy was down 45% compared to the same month last year.
What is the rebound?
As Middle Tennessee works to rebound from the impact of the Coronavirus, we want to help. Whether it's getting back to work, making ends meet during this uncertain time, or managing the pressure, we're committed to finding solution. In addition, we want to tell your stories of hope, inspiration, and creativity as Middle Tennessee starts to rebound.
Find more in the sections below
Getting Back To WorkLearn about the latest job openings, how to file for benefits and succeed in the job market.
Making Ends MeetFind help on topics from rent to food to new belt-tightening techniques.
Managing the PressureFeeling isolated or frustrated? Learn ways to connect with people virtually, get counseling or manage your stress.
Doing What’s RightKeep track of the way people are spending your tax dollars and treating your community.