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nin eir Hotels Furlough, Cut Thousands of Staff Hotels stic 3/23/ 20 BY CRAIG KARMIN Furlough exc AND ESTHER FUNG ers have called off events and probably won't be coming back. "This is incredible hardship," vacationers have put plans on An immediate concern is Mr. Bortz said. "Any industry Marriott International Inc. hold. Hotels are suffering the Ashford's $4 billion to $5 bil- where human contact is in- brunt of this sudden evaporation in debt. Some payments the world's largest hotel com- volved has been decimated." Thousands CO tion of travel, which is wiping are due next month, Mr. Ben- With so little business, it pany, and a growing number of out in a matter of weeks all the nett said, and he doesn't expect makes no sense to keep operat- Continued from page BI hotel owners are furloughing profits many companies had to be able to pay all of them. ing, executives say. Mr. Bortz tens of thousands of workers or more properties with no known rec piled up in the past few years. "Every single U.S. hotel will de- expects most of his hotels that slashing staff to steer their reopen date, they feel they have nl. Some lodging companies are fault on its debt in the next 30, are still open to suspend opera- companies through the corona little choice but to reduce staff taking even more drastic steps maybe 60 days," he said. "It's a virus pandemic. tions over the next five days. and hope the company can re- than Marriott, furloughing or disaster that's snowballing." Hilton Worldwide Holdings letting go more than 9 in 10 Lodging owners across the main afloat. Inc. and Hyatt Hotels Corp. are Another hotel owner, Peb- country are being forced to On Sunday, Rick Takach, employees in some cases. also furloughing many employ- blebrook Hotel Trust, is fur- make similar calculations, With CEO of Vesta Hospitality, owner Ashford Inc., the Dallas- loughing about 90% to 95% of occupancy levels plunging by and operator of 17 hotels, said ees, the hotel companies said in based firm that owns 130 hotels its 8,000 employees, CEO Jon the day, it is a challenge for ho- statements on Sunday, as most he has concluded that cuts to across the U.S., is laying off or Bortz said. He has closed about tellers to make payroll, let travel plans world-wide grind his hotel-management company furloughing 95% of 7,000 em- half the company's 54 hotels; alone pay other expenses and haven't been enough. "So, to a halt. ployees, Chief Executive Monty occupancy levels at the ones meet debt obligations, they A spokeswoman for Marriott deeper cuts are needed," he Bennett said. He expects about that remain open have dwin- said. And as they opt to close said. "That means either much confirmed that the company is one-third of those employees dled to the single digits. Please turn to page B2 lower salaries and hours or the furloughing about two-thirds of elimination of personnel. That its 4,000 corporate employees is a decision I am trying to at the company's Bethesda, make today or tomorrow." Md., headquarters, Marriott is Hotel workers have been also furloughing about two- Fur stunned at the suddenness with thirds of its corporate staff which they have been sent off. abroad, though the spokes- Shelby Halpin, who worked as a woman said she couldn't imme- guest-services specialist and a diately provide the number of guide in a ski rest in Big Sky, Marriott corporate overseas Mont., said she was told on jobs. Tuesday that she no longer had Those actions follow Mar- a job after the resort closed. riott's decision to begin fur- "The next day I put every- loughing what the company ex- thing I owned into my jeep and pects to be tens of thousands of left," said Ms. Halpin. "We were hotel staff-from managers to kicked out of the place. It was housekeepers-while it ramps so surreal." up hotel closings across the Marriott Chief Executive globe. Arne Sorenson said in a video The hospitality industry has message to his employees on been upended by the collapse Thursday that Marriott busi- in global travel as governments ness is running about 75% be- ISTOPHER PIKE/REUTERS imposed travel restrictions in low normal levels, making this response to the pandemic. period more devastating than Companies have halted busi- any other in the history of the ness trips, conference organiz- nearly century-old hotel com- The actions follow Marriott's decision to furlough hotel staff. The company's Sheraton In Dubai. pany. He said that the financial impact was worse than the post-Sept. 11 2001, period and financial crisis combined.3/23/ 20 Hotels Furlough, Cut Thousands of Staff Hotels BY CRAIG KARMIN ers have called off events and probably won't be coming back. "This is incredible hardship," Furlough AND ESTHER FUNG vacationers have put plans on An immediate concern is Mr. Bortz said. "Any industry hold. Hotels are suffering the Ashford's $4 billion to $5 bil. where human contact is in- Marriott International Inc., brunt of this sudden evaporation in debt. Some payments Thousands volved has been decimated." the world's largest hotel com- tion of travel, which is wiping are due next month, Mr. Ben- With so little business, it pany, and a growing number of out in a matter of weeks all the nett said, and he doesn't expect makes no sense to keep operat- hotel owners are furloughing profits many companies had to be able to pay all of them. ing, executives say. Mr. Bortz Continued from page BI tens of thousands of workers or piled up in the past few years. more properties with no known slashing staff to steer their "Every single U.S. hotel will de- expects most of his hotels that reopen date, they feel they have Some lodging companies are fault on its debt in the next 30, are still open to suspend opera- companies through the corona- little choice but to reduce staff taking even more drastic steps maybe 60 days," he said. "It's a tions over the next five days. virus pandemic. and hope the company can re- than Marriott, furloughing or disaster that's snowballing." Hilton Worldwide Holdings letting go more than 9 in 10 Lodging owners across the main afloat. Another hotel owner, Peb- country are being forced to Inc. and Hyatt Hotels Corp, are employees in some cases. On Sunday, Rick Takach, blebrook Hotel Trust, is fur- make similar calculations. With also furloughing many employ- CEO of Vesta Hospitality, owner Ashford Inc., the Dallas- loughing about 90% to 95% of occupancy levels plunging by and operator of 17 hotels, said ees, the hotel companies said in based firm that owns 130 hotels its 8,000 employees, CEO Jon the day, it is a challenge for ho- statements on Sunday, as most he has concluded that cuts to across the U.S., is laying off or Bortz said. He has closed about tellers to make payroll, let travel plans world-wide grind his hotel-management company furloughing 95% of 7,000 em- half the company's 54 hotels; alone pay other expenses and to a halt. haven't been enough. "So, ployees, Chief Executive Monty occupancy levels at the ones meet debt obligations, they deeper cuts are needed," he A spokeswoman for Marriott Bennett said. He expects about that remain open have dwin- said. And as they opt to close said. "That means either much confirmed that the company is one-third of those employees dled to the single digits. Please turn to page B2 furloughing about two-thirds of lower salaries and hours or the elimination of personnel. That its 4,000 corporate employees at the company's Bethesda, is a decision I am trying to Md., headquarters. Marriott is make today or tomorrow." Hotel workers have been also furloughing about two- stunned at the suddenness with thirds of its corporate staff which they have been sent off. abroad, though the spokes- Shelby Halpin, who worked as a woman said she couldn't imme- guest-services specialist and a diately provide the number of guide in a ski rest in Big Sky, Marriott corporate overseas Mont., said she was told on jobs. Tuesday that she no longer had Those actions follow Mar- a job after the resort closed. riott's decision to begin fur- "The next day I put every- loughing what the company ex- thing I owned into my jeep and pects to be tens of thousands of left," said Ms. Halpin. "We were hotel staff-from managers to kicked out of the place. It was housekeepers-while it ramps so surreal." up hotel closings across the E Marriott Chief Executive globe. Are Sorenson said in a video The hospitality industry has message to his employees on been upended by the collapse Thursday that Marriott busi- in global travel as governments ness is running about 75% be- imposed travel restrictions in low normal levels, making this response to the pandemic. period more devastating than Companies have halted busi- any other in the history of the ness trips, conference organiz- nearly century-old hotel com- The actions follow Marriott's decision to furlough hotel staff. The company's Sheraton In Dubai. pany. He said that the financial impact was worse than the post-Sept. 11 2001, period and financial crisis combined