IAAPA has written to US senators outlining a request for the attractions industry to be included in Covid-19 relief legislation. IAAPA’s president and CEO Hal McEvoy penned the letter, distributed to all senators, urging “immediate and extraordinary action” in order to help the trade association’s 5,450-plus businesses, employing mire than 700,000 employees nationwide. IAAPA is estimating a 40 per cent loss in jobs and close to US$12bn in revenue loss, should the current shutdown be sustained throughout June, amid what is typically the start of the busiest season of the year.
While acknowledging that increased funding and flexibility for Small Business Administration loans, tax relief to mitigate economic losses and the government’s promised $150bn in loans and loan guarantees for business, McEvoy stated that more needs to be done to ensure the attractions industry and its workers can sustain the shutdown. He wrote: “We urge you to include a $250bn Travel Workforce Stabilization Fund within the Department of Treasury with $150bn in direct grants and $100bn in unsecured, no-interest loans to mitigate the damage caused by shutdowns and ensure the attractions industry and other related travel-dependent businesses which do not qualify for SBA can maintain employment.” (2020/03/26)