Illinois hotel earnings dropped 80% through ‘devastating’ pandemic closures, business lobbyist suggests

SPRINGFIELD, Sick. (NEXSTAR) – Hotels in Illinois endured 80% earnings losses in the course of “devastating” pandemic closures, and occupancy fees and the value of hotel rooms lag at the rear of rivals in other states where constraints have been lifted, an marketplace lobbyist claimed.

“We’ve already misplaced enterprise to states like Florida, Indiana, Wisconsin, Missouri, that have been opened up faster,” Michael Jacobson, president & CEO of the Illinois Resort & Lodging Association, stated on Capitol Link. “Illinois is surely lagging. And many states that have had these limits in put are absolutely lagging as opposed to states that have reopened faster.”

“We’re hopeful — specifically with that bridge phase announcement, and finally advancing into period 5 — hopeful that this summer time that we’ll be in a situation to host individuals greater gatherings come later on this year and into 2022,” he stated. “So we’re hopeful that we’ll be in a placement to be in a position to convey all those individuals again and that we’ll be ready to get started rehiring our workers. The problem becomes, ‘are we likely to be in a place to just keep on that long though we wait around for those significant gatherings to occur back again future 12 months?’”

Jacobson urged the condition to offer $250M in grant funding for a ‘Hotel Work Recovery Program’ that he suggests would allow for inns to rehire workers laid off all through the pandemic.