In the depths. Or inmate in the shallowness. Welcome back there are few industries in the world harder hit by the coronavirus than the travel and Tourism Sector without question 2020 will go down as one of the worst years ever for the industry but in reality were only in august and still have a long way to go already the effects are being felt in fact the Hotel Industry is warning that as a whole they are facing an absolute Economic Disaster and a desperate plea to congress submitted this week the industry claims that nearly 25 percent of all hotels in the United States are at risk of foreclosure simply put those hotels have loans that are at least 30 days delinquent or longer at the end of 29000. 00 the same number was 1. 9 percent of hotels and this is just the beginning so joining us now to discuss is boom bust cohost investigative journalist bence want and travel expert from money we have dot com very choice thank you both for joining us today ben i want to start with you can you g
Dollars and they Say International travel for them will not resume until the middle of 2021 the middle of next year you talk about the cruise industry you know the Cayman Islands saying that theyre not going to allow International Cruises to come in to the Cayman Islands until at least after december 31st of this year so it doesnt really matter what sector youre in everybodys taking it on the chin right now and no barrier there are destinations like bali that plan to reopen the tourism by september but overall are people actually traveling right now and will tourism pick up again this year or is everything going to shift to 2021 or is it going to be 2022. I think it really depends on where you live regardless where in the world you are i think domestic trouble is that they yes thing right now obviously mainly just because of border closures you know here in cannes i can only go to certain destinations u. S. Citizens can only go to certain areas but if you can stay domestic theres defin
A desperate plea to congress submitted this week the industry claims that nearly 25 percent of all hotels in the United States are at risk of foreclosure simply put those hotels have loans that are at least 30 days delinquent or longer at the end of 2019 the same number was 1. 9 percent of hotels and this is just the beginning so joining us now to discuss this boom bust cohost and investigative journalist ben swan and travel expert from money we have dot com barry choi thank you both for joining us today ben i want to start with you can you give us a rundown quick of some of the other aspects of the travel industry struggling right now. Yeah its kind of like a pick your poison kind of situation right now it doesnt matter what part of the travel industry youre in right now things are going very very poorly you have the Airline Industry Quantas Airlines out of australia saying that for this last year of this last fiscal year that is theyve actually lost 4000000000. 00 in australian dolla
Be 2022. I think it really depends on where you live regardless where in the world you are i think domestic trouble is that they yes thing right now obviously mainly just because of border closures you know here in cannes i can only go to certain destinations u. S. Citizens can only go to certain areas but if you can stay domestic theres definitely an opportunity to travel and the interesting thing is a lot of these countries around the world theyve got their best laid out as ali was trying to open out later this month theyve already had a delay are through the caribbean early so i can cope and i had a reclusive borders so i think a lot of these countries around the world are see what other countries are doing especially in europe and asia and trying to decide what is the best Course National he said maybe thats just you know recalculating maybe focused on 2021 focus on domestic and just hope for the best for now and now but i want to go back to the Airline Industry now we know that Sm
Remained with northern portions of the city overnight as well as portions of the east bay looking at very poor air quality right now and still portions of marin county right there with you still good for most of the north bay as well as a couple spots right along the coast, moderate conditions in hayward and fremont Mountain View in san mateo and the further you get inland here eventually going to be running into a good pocket, a very poor air quality by the time he reached the Central Valley and thats something were just going to hold onto throughout the Holiday Weekend ahead of us so theres your first hurdle youre going to have to tackle as you make any sort of outdoor plans for your Labor Day Weekend 50s and 60s maybe our current temperatures and we may actually be very comfortable this afternoon. In fact we will be compared to where were about to be later on this weekend, todays daytime highs will rise into the 70s and 80s for most of the bay, a few more 90s on the map like unconqu