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 talks with Florida Senator Marco Rubio, who chairs the Senate’s Committee on Small Business and Entrepreneurship, asking for additional stimulus measures, as the hotel industry looks to stay afloat amid the COVID-19 outbreak.

“This is intended to tie us over, and [lawmakers] are already thinking about the full relief package,” Kong said. “We all recognize [the Paycheck Protection Program] is not intended to replace lost revenue or lost profit … It is not enough. [Rubio] is trying to help with a fourth package.”

Destiny Rohrer, a 20-year-old Navy sailor, waits for her bag at Honolulu’s

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Food delivery is 300 times more popular vs. a month ago, according to Yelp data

The economic crisis caused by the coronavirus pandemic has had a dramatic effect on how people spend money, reshaping the current landscape industry by industry.

With millions of Americans ordered to stay at home and millions of businesses closed to stem the spread of coronavirus, consumer spending overall has slowed.

According to Yelp’s (YELP) coronavirus economic impact report that measures interest in categories, some are booming.

“Coronavirus is quickly reshaping every corner of the U.S. local economy — and Yelp data is reflecting the upheaval in real time,” Carl Bialik, the company’s data science editor, wrote.

One significant change reported by Yelp: what consumers are eating. 

“Restaurants that specialize in delivery and takeout appear to have weathered the storm better than food businesses that until a month ago were focused more on dining in,” Yelp’s report said. “Delivery is 300x more popular than usual.”

For example, chicken-wing and pizza

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Economic Suggestions For Today’s Financial Times

RSS (Actually Simple Syndication) is an XML-primarily based format for distributing and aggregating Net content (such as news headlines). The case has sparked outrage from economists and statisticians worldwide who think Mr Georgiou has grow to be a scapegoat for Greece’s political class, which refuses to accept responsibility for the country’s monetary collapse or take ownership of a bitterly contested seven-year programme of fiscal and structural reform. ISHOLA BALOGUN and EBUN SESSOU (2012), As Boko Haram’s attack increases, Death Toll rises, retrieved August 1, 2013, Vanguard On the internet news Publication. Suppose that I have a crystal ball and can accurately foretell your economic future.

The site relays info from publications such as Currency UK that suggest that the UK economy is rather uncertain and could remain so, whilst Chinese trade interest in Australian sources remains higher and also is probably to reamain so for some years. St. Anthony please … Read More

The New York Times In Education

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I have run a company in Thailand now for 10+ years … Read More