Best Western CEO says hotels need four times payroll cost to pay essential bills

Best Western CEO says hotels need four times payroll cost to pay essential bills

The Paycheck Protection Program rolled out today allows small businesses to apply for loans, covering 2.5 times their average monthly payroll expenses.  Best Western Hotels and Resorts CEO David Kong says his hoteliers will need four times that amount, just to pay essential bills.  Speaking to Yahoo Finance, Kong said he has been in close […]
Best Western CEO on coronavirus impact

Best Western CEO on coronavirus impact

Best Western Hotels and Resorts CEO David Kong painted a grim outlook for the hotel industry in the face of the coronavirus outbreak, calling it “total devastation.” In an interview with Yahoo Finance, Kong said revenue for his hotels have been slashed by 90% since...