Texas Hotels ‘Bloodbath’
A new report indicates that Texas hotel occupancies, including Houston, were down 61.1% for the second quarter of 2020 compared with last year. This is the worst hotel season in recent history.
Accordingly, the banking industry predicts that in the first quarter of next year a lot of hotels and motels will be on the market.
In the last half century a lot of Asians, especially Indian and Chinese, got into the hotel business and they now have ownership of almost fifty percent of the hotels nationwide.
Simply put, the hotel business is very suitable for a family operation. They don’t have too much overhead and only a few people are needed to run a motel very easily. Then after few years, they can sell the business for big profit.
Since the coronavirus pandemic has attacked, the airlines and hotels have lost most of their business. They can’t afford to continue making payments and after a few months they will be foreclosed by the bank.
President Trump says that the vaccine will be here very soon. We all hope this will be the time we will see the hotel and airlines industries come back.
根据位於德州圣安东尼旅馆业之调查报告，德州旅馆今年到六月底之住房率和2019 年比较下降了百分之六十一点六，是近年来遇到最糟的一年 。旅馆业者急盼政府再伸出援手来解救业者之困境。