SBA rolled out PPP loans, venue and restaurant grants. Is the hotel industry next?
Updated 7:55 AM;
This article first appeared on The Business Journals’
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The hotel industry is pushing Congress to create its very own $20 billion grant program — hopefully by the end of the summer.
The Save Hotel Jobs Act, introduced by Sen. Brian Schatz, D-Hawaii, in the Senate and and Rep.Charlie Crist, D-Fla., in the U.S. House of Representatives in late April, would create a new grant program for hotels that saw a drop in revenue of 40% or more during 2020 to receive grants of up to $20 million, administered by the Small Business Administration.