Skift Take

A revival of conventions and major events will help the hotel industry tackle its high unemployment rate, but federal stimulus is needed first while struggling businesses still wait for the virus to get under control.

The top bosses at some of the largest U.S. leisure-focused hotel companies continue to rally for more economic aid from the federal government to assist in an industry recovery. But these leaders also say a full recovery is impossible without the return of major events and conventions, a revenue stream their respective businesses don’t actually rely on. The CEOs of Choice Hotels, Wyndham Hotels & Resorts, and Radisson Hotel Group’s Americas division all expect a staggered stimulus plan, with a narrow bill focused on a second window of Paycheck Protection Program small business loans likely by the end of the year. A bigger bill with additional stimulus measures would likely have to wait until President-elect Joe Biden’s administration is in the White House. But these hotel leaders also say a recovery of the group business sector is crucial in getting the hotel industry back on its feet. “The most important reason it has to come back is the impact it has on our team members,” said Wyndham CEO Geoff Ballotti this week at the New York Univ