Best Western Seeing Occupancy Improve to Almost 50%, CEO Says

The video discusses the severe impact of COVID-19 on the hospitality industry, highlighting job losses and revenue drops. It outlines the safety measures hotels have implemented to ensure guest and staff safety. The discussion covers the fluctuating demand for hotel services and the financial challenges faced by hotel owners, many of whom are small business operators. The video also explores federal assistance programs like the PPP and potential future relief measures to support the industry.

What was the reported job loss in the hospitality industry during the pandemic?

• 7.7 million

• 5 million

• 3.5 million

• 10 million

What cleaning technology did Best Western introduce in 2012?

• UV wands

• Electrostatic sprayers

• Ozone generators

• Steam cleaners

Which states were mentioned as having concerns about increasing virus cases?

• Florida, New York, Nevada

• Georgia, Illinois, Ohio

• Texas, Arizona, California

• Washington, Oregon, Idaho

What program provided financial assistance to many hotels during the pandemic?

• Main Street Lending Program

• CARES Act

• PPP Program

• EIDL Program

What is the proposed tax credit amount per person to encourage travel?

• $8,000

• $6,000

• $4,000

• $2,000

What is the current multiple requirement for the Main Street lending program?

• Ten times

• Four times

• Six times

• Eight times

What percentage of loan to value is being considered for the Main Street lending program?

• 90%

• 75%

• 60%

• 50%