Industry experts point to an unusually high loan delinquency rate among hotel borrowers as a sign that more closures are likely to follow.https://t.co/wkg6FxTHxc
Which also means it's pretty much over for people like this, too. From the end of the article:
Former hotel worker Oscar Melara, 60, had been working at the Luxe Rodeo Drive location for 39 years, starting before the Harkham family took over the property. He began his career as a dishwasher and worked his way up to cook.
The hotel had been closed since March when the pandemic struck, but Melara and his co-workers held out hope that it, like several other hotels in the L.A. area, would eventually reopen and rehire them.
Over the years his co-workers had become his second family, he said, and the $22 an hour he earned was enough to pay his bills and send money to his sister in El Salvador to help her make ends meet.
Then the letter from Harkham arrived, saying it was over.
“When you work most of your life for a place and it closes, it’s not fair,” Melara said.
“People want to travel, they just don’t want to get on airplanes,” Airbnb’s co-founder and chief executive Brian Chesky said. “They don’t want to go for business. They don’t want to stay in the really big cities as prevalently as they used to.” https://t.co/4klALnOMvF
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Which also means it's pretty much over for people like this, too. From the end of the article:
by artappraiser on Tue, 09/22/2020 - 11:58pm
The Future of Airbnb
by artappraiser on Sat, 09/26/2020 - 12:10am