Survey

Survey of hotel owners shows PPP loans not enough to save jobs and keep doors open

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Hotels have applied for paycheck protection program and other loans.


The American Hotel & Lodging Association conducted a survey of members on April 28-30, 2020 on a variety of topics including the
Paycheck Protection Program and debt issues. Below are high-level findings from more than 900 respondents.

More than 95% of respondents applied for a Paycheck Protection Program (PPP) and/or Economic Injury Disaster Loan (EIDL). 79% of applicants were approved for one or both. The median loan amount applied for was $150,000 (max PPP loan amount is 2.5x monthly payroll).

Top reasons why: A) Loan only covers 8 weeks of payroll and expected recovery to take much longer; B) Many hotels are still closed by government order and unable to reopen C) Have to spend PPP funds in short window of time to be forgivable, unable to hire staff back and will then be required to repay the loan.