image credit: ThatMakesThree / Flickr

Hotels ask for $250bn

March 18, 2020

Hotel executives told Donald Trump that occupancy rates could fall as low as 10% globally as the movement of people was restricted as a result of the spread of COVID-19.

The comments were made as industry leaders met with the US president to discuss a bailout totalling $250bn.

The proposed package would include $150bn to allow hotel owners to continue to make loan payments and support employees who are being laid off and $100bn to go to suppliers.

Read More on Hotel Management