HONOLULU (KHON2) — Hawaii’s hotels are projected to lose more than a billion dollars by the end of this year.
That’s according to a report by the American Hotel and Lodging Association. The biggest impact coming from a huge drop in business travel.
“Its a significant loss obviously,” said Mufi Hannemann of Hawaii Lodging and Tourism Association (HLTA). “Business travel is one that we really look forward to, because it’s the traveler that we’re trying to attract. The person is going to come here for a structured meeting, a conversation, they’re going to spend money, its going to circulate throughout the economy and we haven’t seen that come back.”
The sharp drop in revenue has a trickle down affect and according to the report could equate to more than 12,000 jobs lost.
The U.S. Congressional delegation introduced the ‘Save Hotel Jobs Act’ to help. If approved, it could provide pay and tax credits for hotel workers who are laid off due to the pandemic.