Government Shutdown Costs Hotel Industry $650M

Government Shutdowns Financial Toll on US Hotel Industry: Six Point Seven Million Unbooked Room Nights and CountingThe ongoing government shutdown is causing significant financial strain on the United States hotel industry, with millions of potential bookings lost. A new analysis from OysterLink reveals that hotels have missed out on the equivalent of six point seven million unbooked room nights since the shutdown began. This decline in bookings stems from several factors directly linked to the shutdown, including thousands of canceled flights and suspended federal travel programs. The human impact is also clear, as hundreds of thousands of federal workers are either unpaid or furloughed, significantly lowering consumer confidence and reducing discretionary travel spending. The American Hotel and Lodging Association warns that the shutdown had already cost hotels around six hundred and fifty million dollars in lost business by October twenty-second. The United States hotel industry contributes a massive eight hundred and ninety-four billion dollars to the countrys economy each year, and with each passing day, this vital economic engine sputters further.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.