Saturday, March 21, 2020
On Friday, the American Hotel and Lodging released few figures stating that The Louisiana hotel industry has lost approximately 16,631 direct jobs due to the deadly coronavirus pandemic.
As the number of coronavirus cases continues to soar across the globe, more countries undergo lockdown and travel restrictions. These actions, in turn, have harshly affected the hospitality and tourism industry resulting in hotel shutdowns and numerous job losses.
As per the American Hotel and Lodging Association, the hotel industry has lost 49,138 total jobs. Around 44% of hotel employees in every state have lost or has the possibility to lose their jobs in the forthcoming weeks.
William Langkopp, Executive Vice President, Louisiana Hotel & Lodging Association, said in a press statement that the outbreak of COVID-19 and the coronavirus disease has triggered mandatory shutdowns of hotels. He mentioned that the shutdowns which are aimed at controlling the spread of the coronavirus are completely devastating the business of the hotel industry. He also mentioned that layoffs, furloughs and reduced hours are happening all across Louisiana.
He shared that he has a local operator in New Orleans who operates five small properties in downtown. However, due to the current situation, he is closing down four of the properties.
Ed Ghanami, President, Shreveport-based Panache Management, further added in a press statement that hotel bookings at his company have dropped more than half due to the coronavirus outbreak. He said that despite severe cost-cutting measures executed at each hotel, it will be impossible for their hotels to cover the cost of operations as well as cover debt service.
He concluded that due to the drastic drop in hotel revenues, their management company cannot generate the necessary revenue required to survive at the moment.
Thursday, April 18, 2024
Thursday, April 18, 2024
Thursday, April 18, 2024
