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Airbnb, hotels seek US government
aid as demand flattens

Original Article

Posted By: Ribicon, 3/17/2020 9:06:18 PM

U.S. hotel companies are seeking $150 billion in direct aid for their workers for what they say is an unprecedented fall-off in demand because of the new coronavirus. CEOs of Marriott, Hilton, Hyatt and other chains met Tuesday with President Donald Trump to describe the impact and seek help. Hilton CEO Christopher Nassetta told the president that Hilton has never closed a hotel that wasn't slated for remodeling or demolition in its 100-year history. Now, several Hilton hotels in big U.S. cities are closed and worldwide, its hotels are only 10% to 15% occupied. Last year, the average U.S. occupancy rate was 67%.

Comments:

Belly up to the bar, boys; drinks are on The Donald. Profits accrue to the corporation, losses are borne by the taxpayers. Isn't this what free-market capitalism is all about?

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Reply 1 - Posted by: DVC 3/17/2020 9:31:11 PM (No. 349416)
Dammit! The first thing I did when I got of college and started working was to SAVE until I had three month take home pay in the bank. Took about 6 montggs, I spent almost nothing beyond gas, food and rent during that time. That was never touched, it was my "rainy day fund". Grow up, the taxpayers don't owe you a thing. People are so irresponsible today.
7 people like this.

Reply 2 - Posted by: Lawsy0 3/17/2020 9:35:02 PM (No. 349420)
1. Take a number 2. Take a seat 3. Don't break line
2 people like this.

Reply 3 - Posted by: caljeepgirl 3/17/2020 11:20:51 PM (No. 349487)
AirBNBs?? I don't THINK SO!!!!!
6 people like this.

Reply 4 - Posted by: anniebc 3/17/2020 11:35:29 PM (No. 349496)
I AirBnB my home. Why do they need a bailout? I don't. Don't business prepare for a rainy day anymore? Good grief!
5 people like this.

Reply 5 - Posted by: LadyHen 3/17/2020 11:52:23 PM (No. 349506)
Non-resident Airbnb hosts who hold mortgages on their short term rental property and who are reliant on that income to pay their mortgages, taxes, expenses may be learning a valuable lesson about the rental property market real soon. And interestingly when we cancelled the cruise we were to take next week, the ONLY money I lost was to Airbnb. Cruiseline, airline, van service, even the Mexican day resort we were to lounge at for an excursion either refunded my money or gave be a full credit for future use. Airbnb and the host kept almost half my money. So screw Airbnb! I'll stick with hotels.
3 people like this.

Reply 6 - Posted by: john56 3/18/2020 12:08:45 AM (No. 349512)
The hoteliers who will be hurting aren't the folks at the Grand Hyatt or Ritz Carlton or those big city resort hotels (yes, they're hurting) but it will be the mom and pop 50 to 100 room hotels in your towns. They have maybe 4 or 5 guest rooms booked and are having to deal with laying off employees or closing temporarily.
1 person likes this.

Reply 7 - Posted by: Heraclitus 3/18/2020 12:29:29 AM (No. 349519)
Not far from here, on the beautiful coast, are at least two multimillion dollar mansions owned by family's of Marriott fame. They can afford to pay their workers or add to unemployment insurance. Those very wealthy companies can get to the back of the line, they should be helping their employees.
1 person likes this.

Reply 8 - Posted by: msjena 3/18/2020 9:27:08 AM (No. 349783)
Fuhgeddit about it! Don't big hotels have business interruption insurance? And Airbnb--no.
0 people like this.

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