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Pay now, stay later: Hotels hit hard by coronavirus pandemic selling 'bonds' for future travel

Pay now, stay later: Hotels hit hard by coronavirus pandemic selling bonds for future travel
By Lori Rackl, Chicago Tribune
© Jose M. Osorio/Chicago Tribune/TNS
Lobby and reception area at the Hotel Julian, a 218-room boutique hotel in the former Atlantic Bank Building in Chicago, on Wednesday, Oct. 30, 2019. Hotel Julian is offering bonds for future stays.
CHICAGO Either closed down or operating with most of their rooms empty, hotels are finding ways to put cash in their pockets now for services provided later, spawning some enticing deals for consumers.
Take the 452-room hotel LondonHouse Chicago. It’s offering “bonds” that people can buy in $100 increments. Once those bonds mature after 60 days, they’re worth $150 a quick 50% return on investment. When the coronavirus crisis subsides and guests are ready to book, they can use the bonds to pay for everything from overnight stays to room service and drinks at the hotel’s r ....

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Downtown Chicago hotels are starting to reopen. Laid-off workers worry they might not get their jobs back.

Downtown Chicago hotels are starting to reopen. Laid-off workers worry they might not get their jobs back.
Abdel Jimenez, Chicago Tribune
© Abel Uribe/Chicago Tribune
Patrons enjoy tea service and pastries at The Drake Hotel s Palm Court as it reopens after being closed for almost a year on April 3, 2021.
As travelers slowly begin to book hotel rooms again in Chicago, Maria Ruiz, of Addison, is looking forward to the day her former employer Swissotel calls her back after laying her off in late October because of the coronavirus pandemic.
Ruiz worked as a banquet server and various other positions for two decades before being let go by Swissotel, which trimmed its workforce after business slowed down last year. That job helped Ruiz become a homeowner and support her family, including her 83-year-old father who lives with her. ....

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Laid-off hotel workers push for Chicago recall ordinance

Laid-off hotel workers push for Chicago recall ordinance
chicagotribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chicagotribune.com Daily Mail and Mail on Sunday newspapers.

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Story Next Door: Olson moves to city housing work

Story Next Door: Olson moves to city housing work
gazettetimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gazettetimes.com Daily Mail and Mail on Sunday newspapers.

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Post-COVID travel to Chicago set to pick up, raising hopes and issues for hotels

Mike Schwartz Photography
A new 223-room hotel on Navy Pier, dubbed Sable, is set to debut March 18 despite the pier itself remaining mostly closed to visitors.
Chicago s summer tourism season is about to turn up the heat on local hotel owners.
With the city lifting more COVID-19 restrictions amid dwindling case numbers and Mayor Lori Lightfoot suggesting some popular summer events and festivals may be returning, downtown hoteliers are getting ready to pounce on what could be a burst of demand from leisure travelers itching for a city vacation.
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It s desperately needed good news for hotel investors that have been starved for business as the pandemic stifles travel demand. But for many, this year s peak visitation months come with something bigger at stake: the ability to hang on to their properties at all. ....

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