The travel industry is in shambles. Hotel workers and CEOs are furious with Congress for failing to help

  • Kong, who in March met with President Donald Trump at the White House to discuss federal aid, expressed deep frustration with the leaders of Congress for failing to reach a bipartisan agreement on another round of fiscal stimulus.
  • Pelosi wrote a letter to House Democrats Thursday explaining that beyond the dollar amount, key differences remain over a strategic plan to fight the pandemic as well as funding for state and local government, support to small businesses and childcare funding.
  • Revenue per available room, a key metric of financial health in the hotel industry, has been cut in half over the past year, according to Morgan Stanley.
  • In the industry letter on Thursday, the hotel companies asked the Trump administration to encourage the Federal Reserve to modify and expand the Main Street Lending Program.

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