Mar
27
2021
The hotel industry is asking for a $15 – $29 billion bailout, with 40% earmarked for hotel investors to make mortgage payments to big lenders. This is being pitched as something that ‘goes well with infrastructure’ which the federal government is preparing to spend $3 trillion on. Of course, the hotel buildings already exist and aren’t new infrastructure.
The American Hotel and Lodging Association’s chief lobbyist complains, “You have whole segments of our industry that did not receive any financial assistance whatsoever.” It’s not fair that everyone else has been taking your money and hotels haven’t been able to do so yet.
