Coronavirus slamming hotels worse than financial crisis, 9/11: industry group
'It's as bad as we've ever seen,' American Hotel & Lodging Association CEO says
The coronavirus is already hitting the hotel industry harder than the 9/11 terrorist attacks and the 2008 financial crisis, according to one travel industry leader.
"It's as bad as we've ever seen," American Hotel & Lodging Association CEO Chip Rogers told FOX Business’ Maria Bartiromo.
Rogers said he expects that more than half of American hotels will be forced to close by the end of March, with 4 million workers laid off.
POPULAR RESTAURANT CHAINS SURVIVING CORONAVIRUS WITH 'COMMON SENSE'
Rogers said last year occupancy among American hotels was about 67 percent and now reports suggest that occupancy in most hotels in the U.S. is in the single digits.
A security guard patrols the now closed MGM Grand hotel-casino after all the casinos and non-essential businesses in the state were ordered to shut down due to the coronavirus Wednesday, March 18, 2020, in Las Vegas. (AP Photo/David Becker)
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Rogers said for some, "it will be permanent," but he is hopeful that the temporary closures will bounce back quickly.
"The best way to do that is have workers ready to go when the economy turns around," he said.
Rogers was among the executives that met with President Trump and Vice President Pence at the White House on Tuesday to discuss to request about $150 billion which would be allocated towards the workers and hotel owners to keep businesses afloat.
CLICK HERE TO READ MORE ON FOX BUSINESS