Covid-19 has brought about unprecedented changes around the world and the tourism sector is among the most affected all around the world.
With the resurgence of Covid-19 in Europe and America, many states are enacting policies limiting travel and tourism.
These restrictions have greatly affected the Hotel industry all around the world.
A new survey carried out in Washington suggests that the Hotel industry would continue to face devastating consequences as a result of the pandemic.
Not just the Hotel industry, but aviation and other tourism sector as well.
There would be significant loss of jobs as the day goes by and a lot of companies may not be able to survive in 6 months from now.
The statistics shows that 71% of hotels in Europe and USA say they would not make it in the next six months without Government assistance.
This is because of the low projected travel demand around the world.
77% of hotel managements suggested that they would lay off more than 70% of their entire workforce if the trend continues for the next 6 months.
A whopping 47% suggested that they would completely close down their hotels if the trend continues for another 6 months.
And lastly, more than 70% would be forced to sell or run into bankruptcy without Government financial intervention in the next 6 months.
In the USA, it is estimated that hotels lose about 400 jobs every hour that Congress don’t act.
The devastated Hotel industry anxiously waits for Congress to come together and pass another round of Covid-19 reliefs.
Hotels in the USA and all around the world keep on facing record devastation.
There has been a significant drop in travel demand all around the world.
It is estimated that 7 in 8 Europeans and Americans are not expected to travel for holidays, tourism and vacations in the coming months.
The only lifeline for the hotel industry is a relief plan by the Federal Government.