The American hotel industry could be on the brink of collapse with as much as two-thirds of the nation’s hotels set to shutter in six months without financial help from the government and millions of industry workers laid off, a situation CEO of Best Western Hotels David Kong told CNBC on Monday was “not sustainable.”
Hotels have been the victim of a devastating one-two punch from the coronavirus pandemic, with forced closures leading to massive layoffs, and a sharp decline in bookings with travelers afraid checking in might mean contracting the virus.
“It’s really hard to say when a recovery is going to be. This situation we are in now, it’s not sustainable. It’s really bad,” Kong, who recently spoke with both the White House and Congressional Democrats about stimulus funding, told CNBC.
Kong noted the