Skip to content
Search

Latest Stories

USTA supports bill to extend Paycheck Protection Program deadline

The bipartisan legislation would give businesses until May 31 to apply for loans

USTA supports bill to extend Paycheck Protection Program deadline

THE LATEST FEDERAL stimulus package includes billions more dollars for the Paycheck Protection Program, a key priority for the hotel and travel industries. However, the U.S. Travel Association says the program also needs more time to provide relief from the COVID-19 economic downturn.

For that reason, USTA is pushing for the passage of the PPP Extension Act of 2021 that would push the deadline for PPP fund applications from March 31 to May 31 and give the Small Business Administration 30 days after that new deadline to process applications. The bill is sponsored by Democrat Sens. Jeanne Shaheen, New Hampshire, and Ben Cardin, Maryland, and Republican Sen. Susan Collins of Maine.


Those three senators, along with Republican Sen. Marco Rubio of Florida, created the original PPP as part of the $2.2 trillion Coronavirus Aid, Relief, & Economic Security Act a year ago. They also advocated for the inclusion of $284.5 billion in the December COVID-19 relief package to reopen the program, but they say while the $1.9 trillion American Rescue Plan Act signed into law last week includes  $7 billion for the PPP, more is needed.

“As one of the original creators of the PPP last year, I was disappointed that despite our efforts, the ARP unfortunately did not include an extension of these loans,” Shaheen said. “I’m pleased to build on the bipartisan work that Sens. Collins, Cardin and I started last year when we established the program by taking this common-sense step to extend the deadline for PPP loans. Congress must act to preserve this lifeline for small businesses trying to stay afloat.”

Extending the PPP would especially benefit the travel agency, said Tori Emerson Barnes, USTA’s vice president for public affairs and policy.

“The hardest-hit U.S. businesses are still in dire need of aid, so extending the PPP application deadline is critical to help the U.S. economy get through the next few uncertain months. the leisure and hospitality industry currently accounts for nearly 40 percent of all U.S. unemployment, and it is still unclear when travel demand will finally be able to rebound on its own,” Barnes said. “Extending the PPP is vital for travel employers to keep their lights on, when many would otherwise be at risk of shutting their doors and their jobs being lost permanently.”

More for you

Peachtree Group , celebrating their 2024 ranking as the 8th largest U.S. CRE lender with $1.6B in investments.
Photo credit: Peachtree Group

Peachtree ranked eighth-largest CRE lender in the U.S.

Peachtree Group Ranks 8th in U.S. CRE Lending for 2024

PEACHTREE GROUP IS the eighth-largest commercial real estate lender in the U.S., according to the Mortgage Bankers Association’s 2024 loan origination rankings. The company deployed $1.6 billion in commercial real estate credit investments.

The MBA also ranked Peachtree seventh among U.S. CRE hotel lenders for the fourth consecutive year and recognized it across the office, multifamily, retail, and industrial sectors, Peachtree said in a statement.

Keep ReadingShow less
stayAPT Suites Lancaster hotel by Destiny Partners in 2025

Destiny, stayAPT to franchise five PA hotels

Why stayAPT Suites and Destiny Partners Are Redefining Extended Stays

DESTINY PARTNERS LLC and stayAPT Suites signed a franchise deal for five Pennsylvania locations: Lancaster, Reading, York, Bethlehem, and Allentown. Construction begins this spring on the first 94-room, four-story property in Lancaster.

Destiny Partners co-founder Shakher Patel leads the firm, while Gary DeLapp is stayAPT Suites' president and CEO.

Keep ReadingShow less
હન્ટર કોન્ફરન્સ 2025: નવું સ્થળ, આર્થિક ચર્ચા

હંટર હોટેલ કોન્ફરન્સે મોટા પગલાની જાહેરાત કરી

હન્ટર હોટેલ ઇન્વેસ્ટમેન્ટ કોન્ફરન્સે આ અઠવાડિયે તેની 2025 મીટિંગની શરૂઆત એવા સમાચાર સાથે કરી હતી કે તે આવતા વર્ષે નવા સ્થાને જશે. ઉપરાંત, કોન્ફરન્સમાં વક્તાઓએ યુ.એસ.ની અર્થવ્યવસ્થાને અસર કરતી વર્તમાન અશાંતિ અંગે તેમના મંતવ્યો આપ્યા હતા.

આ વર્ષની કોન્ફરન્સની થીમ હતી “એલિવેટ યોર ગેમ,”, કોન્ફરન્સ ચેરમેન અને પ્રાયોજક હન્ટર હોટેલ એડવાઈઝર્સના સીઓઓ લી હન્ટરે ડાઉનટાઉન એટલાન્ટામાં મેરિયોટ માર્ક્વિસ હોટેલ ખાતે મંગળવારે તેમની શરૂઆતની ટિપ્પણીઓમાં જણાવ્યું હતું. કોન્ફરન્સમાં 2,200 થી વધુ લોકોએ હાજરી આપી હતી.

Keep ReadingShow less