Sign the petition to City Hall:
Save the hotel industry!
New York hotels are in serious trouble. Since the pandemic began, nearly 200 hotels have closed, thousands of jobs have been lost, and billions-of-dollars in economic activity has evaporated. Now, with the COVID vaccine and new treatments available, an end to this pandemic is in sight. But it will likely be some time before our economy is all the way back. Until then, hotels will operate at a fraction of their capacity, leading to more layoffs and closings--unless the industry gets serious help, soon.
New York’s hotel industry employs more than 50,000 New Yorkers, raises $3.2 billion a year in tax revenue, and adds $22 billion annually to our economy. It is also at the center of our tourism industry, which employs nearly 300,000 New Yorkers--more than the finance industry, and nearly twice as many as the tech sector. Most importantly, hotels are a path to the middle class and a source of good wages and benefits for people of color and immigrants in New York.
With temporary, common sense relief for the industry like an amnesty on property tax interest, as well as assessments that more fairly represent the current value of hotels, we can keep hotels open and workers employed. If we don’t act now, many of those jobs may not come back for years, if ever.
An investment in the hotel industry now would also be a downpayment on our recovery. The more hotels we can keep open, the more visitors we can bring into New York, equaling more full-time jobs, higher tax revenue for local services, and a healthy tourism industry. If we allow hotels to close, our tourism industry will not recover nearly as fast, costing us tax dollars and jobs, and creating a negative cycle of reduced City services that reduce tourism as the city becomes dirtier and more dangerous.
Copyright 2020. Key To NYC