[BPt111]

Not sure if someone post this

The Hilton Garden Inn on Old Gate Lane will close Thursday, an executive with Texas-based Aimbridge Hospitality told Connecticut Department of Labor officials in a certified letter that officials with the state agency received Monday. Christine Nilluka, vice president of human resources for Aimbridge, said 49 people will lose their jobs as a result of the closing.

https://ctpost.com/news/coronavirus/...?src=mposthpcp

[BobNJ1960]

Originally Posted by BPt111

Not sure if someone post this

The Hilton Garden Inn on Old Gate Lane will close Thursday, an executive with Texas-based Aimbridge Hospitality told Connecticut Department of Labor officials in a certified letter that officials with the state agency received Monday. Christine Nilluka, vice president of human resources for Aimbridge, said 49 people will lose their jobs as a result of the closing.

https://ctpost.com/news/coronavirus/...?src=mposthpcp

Sorry to see. I did expect it. I would bet Fairfield Inn is happy not to have built the full hotel yet on US1.

HGI had nice staff. Stayed there several times when visiting either from NJ or Tn.

[JayCT]

Originally Posted by BobNJ1960

If hotels survive. Homewood Suites in Hartford likely to be sold as land only per owner.

IMO we will see far fewer US hotels for years to come after this.

.

Oh come on now, the vast majority of hotels will survive.

There is nothing to make anyone think that the Homewood Suites in downtown Hartford will be demolished. The Bond Ballroom on the 11th floor of the building will remain in operation after events begin again. The building was originally the Bond Hotel and is architecturally and historically significant. It will not be demolished. If anything this building would be ripe for conversion to apartments. Given that this is now a suites hotel, it would easily be converted to micro apartments that are so popular in Hartford right now. That gives the building a lot of value, certainly more than land value. Jay

https://www.hartfordbusiness.com/art...19-uncertainty

[BPt111]

Economy restart plan for CT the state got be open for business by April 15ish

-The state should require employers to test workers if they feeling ill or any sign of virus coming
-Sick workers should stay home
-Continue to follow another social gathering ban till late April pending review
-Bars, Clubs, Social spots can re-open in 14 days but it require to check temperatures or turn away sick people
-Mortgage, rent, loans payments is delayed till May
-Small businesses loans and workers protection

The state got change and adopt changing economic future

More ideas when they come just my thoughts

[BobNJ1960]

Originally Posted by JayCT

Oh come on now, the vast majority of hotels will survive.



https://www.hartfordbusiness.com/art...19-uncertainty

I doubt it. Occupancy in Northeast regularly under 10% last several weeks. Italy hit 3.3% btw.

Homewood Hartford last 2 electric bills = 55% of revenue.

No industry could withstand that.

Breakeven, at any point it was measured is between 5 and 10 times last 2 months Northeast occupancy rates.

Hotels need a quick bailout at least as bad as airlines do, or many bite the dust.


https://www.hospitalitynet.org/performance/4000978.html

[JayCT]

Originally Posted by BobNJ1960

I hope so, but Federal economists are projecting Q2 unemployment rates of 20-30%.

We were at 3.5%.

Even during the Great Recession, I do not recall the published rate (excludes the discouraged) hitting 12%.

This freefall is unprecedented, at least since we recorded data accurately. (We did not do so in the Great Depression, btw. Recording was hardly a science).

It's gonna be a wild ride.

Connecticut’s peak unemployment rate was under 10% during the recession. I agree that like pretty much the rest of the nation, Connecticut will see unprecedented unemployment filings this week. The good thing is it will be temporary. Hopefully, in a few weeks, that will change. Jay

[WouldLoveTo]

Originally Posted by BPt111

Economy restart plan for CT the state got be open for business by April 15ish

-The state should require employers to test workers if they feeling ill or any sign of virus coming

That doesn't work if people are shedding the virus for days before they show any symptoms.

[BobNJ1960]

Originally Posted by JayCT

Connecticut’s peak unemployment rate was under 10% during the recession. I agree that like pretty much the rest of the nation, Connecticut will see unprecedented unemployment filings this week. The good thing is it will be temporary. Hopefully, in a few weeks, that will change. Jay

Hotels do not have time. The stimulus funds better arrive fast for them.

I knew HGI, Hyatt Place, plus Courtyard all have/had high fixed costs, (I stayed at each several times) just due to my business background. Lot of investment involved, high ratio staff/rooms. That equation requires high occupancy rates. This virus cut the rate 80% in just a few weeks.

Imagine your employer losing 80% of its revenue w/o warning.

None of mine could withstand it.

Most off 10-15% start figuring out how to trim.

Again I have no issues with how they ran it, as IMO a very well managed hotel it was.

I wish those not unemployed well.

[Mr_250]

Originally Posted by BPt111

Economy restart plan for CT the state got be open for business by April 15ish

-The state should require employers to test workers if they feeling ill or any sign of virus coming
-Sick workers should stay home
-Continue to follow another social gathering ban till late April pending review
-Bars, Clubs, Social spots can re-open in 14 days but it require to check temperatures or turn away sick people
-Mortgage, rent, loans payments is delayed till May
-Small businesses loans and workers protection

The state got change and adopt changing economic future

More ideas when they come

Are these your ideas or state of CT ideas? Please indicate or provide links when throwing this information out here.

Besides the virus, the abundance of misinformation about the virus is just as staggering. Please keep it to the fact or static’s that can be backed up. Opinions are not warranted at a time like this where people just need solid answers.

[BPt111]

Originally Posted by Mr_250

Are these your ideas or state of CT ideas? Please indicate or provide links when throwing this information out here.

Besides the virus, the abundance of misinformation about the virus is just as staggering. Please keep it to the fact or static’s that can be backed up. Opinions are not warranted at a time like this where people just need solid answers.

My ideas not CT