Hotel Owners Are About to Blow Through Cash on Virus Travel Cuts
- Even well-capitalized companies face a potential cash crunch
- Seattle occupancy plunge may be a harbinger for the industry
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Some Seattle hotels saw occupancy rates fall below 10% last week, even before fresh guidance against public gatherings from the federal government presented a new challenge to the U.S. hospitality industry.
The data from the Downtown Seattle Association shows how bad things could get for hotel owners in cities where cases of the novel coronavirus were slower to arrive.