Florida Hotel, Motel, And B&B Charitable Donation
Its no secret the hotel industry is greatly supported by those who travel, an activity that has recently been greatly restricted due to the quick spread of the novel coronavirus in the U.S. There is an alternative for those who own these types of real estate and are struggling in this most recent economic downturn. Consider a hotel, motel, or Bed and Breakfast charitable real estate donation . The current economic situation situation for those in the hotel and hospitality industry is more damaging than post-9/11 and the Great Recession combined. The two instances led to about 10% declines in hotel occupancy. Meanwhile, in the current pandemic, hotels are seeing declines of 80% and 90%. According to one Oxford Economics study, as of mid-March, 88,631 direct hotel operations jobs in Florida have been lost as a result of the pandemic. The data also shows that 305,146 hotel-supported jobs have been lost in the state as of mid-March. It is estimated that 70% to 75% of all hotel ...