coronavirus

US Travel Association: Spending Down 85 Percent from Last Year in Midst of Coronavirus Outbreak

by Alex Tostado April 13, 2020

WASHINGTON, D.C. — A recent report from the U.S. Travel Association found that travel spending is down 85 percent from this time last year due to the worldwide coronavirus (COVID-19) outbreak. The week ending April 4 saw $3.3 billion in spending, down from $21.9 billion the same week a year ago. The U.S. Travel Association says that with now five weeks of evident COVID-19 impact, the U.S. travel economy has lost $60.8 billion. More than $36 billion (60 percent) of these losses have been realized in the past two weeks. With the shared decrease in spending, the organization expects that 5.9 million travel-related jobs will be lost by the end of April. Southwest Airlines says it will cut flights by up to 50 percent in June. Furthermore, American Airlines has said it will cut 80 percent of its flights in May and cut its international summer flights by 60 percent. As of this writing, there were 547,627 confirmed cases of COVID-19 in the United States, according to Johns Hopkins University (JHU). The U.S. Travel Association is a nonprofit organization representing the travel industry, such as airlines, cruise lines, buses, rail transportation, museums, amusement parks and state tourism offices, which generates …

April 13, 2020

Texas

Texas Gov. Abbott Extends Disaster Declaration for COVID-19 For Another 30 Days

by Taylor Williams April 13, 2020

AUSTIN, TEXAS — Texas Gov. Greg Abbott has extended his official disaster declaration order for the Lone Star State as it battles COVID-19. The order originally went into effect on March 13 and lasts for 30 days unless renewed by the governor under state law. All 50 states are currently under a federal disaster declaration for the first time in U.S. history. Texas had about 13,500 confirmed cases of COVID-19 as of Monday, April 13.

April 13, 2020

Indiana Midwest

Indiana’s Shelby County Launches COVID-19 Guidance for Small Businesses, Nonprofits

by Kristin Harlow April 13, 2020

SHELBYVILLE, IND. — Four institutions in Shelby County have teamed up to help small businesses and nonprofit organizations apply for federal assistance to survive the COVID-19 crisis. Blue River Community Foundation is providing up to $10,000 for local attorneys to assist businesses in applying for loans through the new Coronavirus Aid, Relief and Economic Security (CARES) Act. Shelby County Development Corp., Mainstreet Shelbyville and Shelby County Chamber of Commerce are also playing key roles. Attorneys from the Shelbyville firms of Brown, DePrez & Johnson, McNeely Law and Stephenson Rife will guide the small business and nonprofit leaders through the process. Eligible businesses must be locally owned, brick-and-mortar establishments with fewer than 35 employees. Shelbyville is located about 30 miles southeast of Indianapolis.

April 13, 2020

Company News Georgia Hospitality Southeast

Hunter Hotel Investment Conference Canceled for 2020 Due to Coronavirus Pandemic

by Alex Tostado April 10, 2020

ATLANTA — The 32nd annual Hunter Hotel Investment Conference has been canceled for 2020 due to the coronavirus (COVID-19) pandemic. The conference, which brings together hotel investors, managers, developers, lenders and brokers, was originally scheduled for March 18-20 in downtown Atlanta, but was postponed indefinitely March 12 by Hunter Hotel Advisors. After much deliberation, the Atlanta-based organization decided to outright cancel the 2020 conference. “Through continually following the published guidance issued by the Centers for Disease Control and Prevention (CDC), the World Health Organization (WHO), and our local health officials we simply do not want to risk the health of any of our attendees or the people with whom they come into contact,” according to a statement that appears on the Hunter Hotel Conference website. In 2019, the conference attracted more than 1,850 attendees from across the Southeast. As of this writing, there are 467,184 confirmed cases of COVID-19 in the United States, according to Johns Hopkins University (JHU). There are 1,336 confirmed cases in Fulton County, where the conference typically takes place. The next Hunter Hotel Investment Conference is now scheduled for March 9-11, 2021.

April 10, 2020

District of Columbia Retail Southeast

NRF ‘Welcomes’ Federal Reserve’s Efforts to Help Businesses with Liquidity Issues During Coronavirus Pandemic

by Alex Tostado April 10, 2020

WASHINGTON, D.C. — National Retail Federation (NRF) CEO and president Matthew Shay issued a statement saying the organization is pleased with the measures the Federal Reserve Bank and Treasury Department have taken to help businesses that are short on liquidity due to the coronavirus (COVID-19) pandemic. On Thursday, the Federal Reserve, along with Secretary of Treasury Steve Mnuchin, said it will finance up to $2.3 trillion to aid small- and mid-size businesses that are struggling due to the pandemic. The Fed said $600 billion will go toward buying the loans of the businesses and $500 billion will buy state municipal bonds. “As part of the next round of liquidity support for U.S. businesses, (Thursday’s) release by the Federal Reserve Bank of new term sheets is a welcome development,” said Shay. “By strengthening the efficiency of the Paycheck Protection Program (PPP) and clarifying terms to speed relief to small- and mid-market businesses through the Mainstreet Lending Program, the government is making great progress toward quick action with both clarity and guidance.” While Shay commends the government for its timely response to the pandemic, he says there is still work to be done to continue helping retailers, mainly when it comes to …

April 10, 2020

Michigan Midwest

Michigan Governor Extends Stay-At-Home Order Through End of April, Limits Store Traffic

by Kristin Harlow April 10, 2020

MICHIGAN — In a continued effort to slow the spread of COVID-19, Michigan Gov. Gretchen Whitmer has extended the state’s stay-at-home order through the end of April. As with the prior order, the motion limits gatherings and travel. The directive also requires that all workers who are not necessary to sustain or protect life to stay home. The new order also imposes more stringent limitations on stores to reduce foot traffic and encourages residents to limit the number of household members running errands. Large stores must limit the number of people in the store at one time to no more than four customers for every 1,000 square feet of floor space. Small stores must limit capacity to 25 percent of the total occupancy limits. To regulate entry, stores must establish lines with markings for patrons to enable them to stand at least six feet apart from each other while waiting. Large stores must also close their carpeting, flooring, furniture, garden centers, plant nurseries or paint departments. Michigan currently has the third-highest number of COVID-19 cases in the country. As of Thursday, April 9, there were 21,504 confirmed cases in the state and 1,076 deaths, according to the state of Michigan’s …

April 10, 2020

Healthcare Texas

Dallas Hospitals Report Occupancy Rates, Ventilator Usage

by Taylor Williams April 10, 2020

DALLAS — On Wednesday afternoon, 24 hospitals in the Dallas area reported aggregate bed and ventilator capacity numbers to Mayor Eric Johnson’s office, pursuant to emergency regulations set forth in response to the COVID-19 outbreak. According to the data, approximately 54 percent of the hospitals’ total of 5,354 beds are occupied, while roughly 62 percent of intensive care beds are occupied. Of the 900 or so ventilators, about 32 percent are in use. As of Friday, April 10, Dallas County had reported 1,432 cases of COVID-19.

April 10, 2020

Massachusetts Northeast

Diversified Healthcare Trust Reduces Quarterly Common Share Dividend to Preserve Capital

by Alex Patton April 10, 2020

NEWTON, MASS. — Diversified Healthcare Trust (DHC), a metro Boston-based REIT focused on healthcare and life sciences, will reduce its regular quarterly cash dividend on shares of common stock from 15 cents per share in the fourth quarter of 2019 to 1 cent per share in the first quarter of 2020. The capital-saving move comes in response to the operating challenges and uncertainty surrounding the COVID-19 pandemic and market disruptions, and is estimated to conserve approximately $33.3 million in cash per quarter. The REIT will reassess its position on a quarterly basis. DHC also expects to conserve capital by deferring certain nonessential capital investments that are expected to save up to $150 million in 2020. DHC’s medical office and life science portfolio includes approximately 12 million square feet across more than 420 properties located in 39 states and Washington, D.C.

April 10, 2020

New Jersey Northeast Retail

Party City Extends Temporary Store Closures Indefinitely in Response to COVID-19

by Alex Patton April 10, 2020

ROCKAWAY, N.J. — Party City Holdco Inc., a party supplies retailer headquartered in Rockaway, has temporarily closed all of its brick-and-mortar stores nationwide in response to the COVID-19 pandemic. The move represents an indefinite extension of the previous closure of its 850 stores, which originally began March 27. The company also furloughed approximately 90 percent of store employees and 70 percent of wholesale, manufacturing and corporate employees. Party City’s e-commerce site remains fully operational, and a number of stores are offering curbside pickup services.

April 10, 2020

Midwest Minnesota

Minnesota Governor Extends Stay-at-Home Order Until May 4

by Kristin Harlow April 9, 2020

MINNESOTA — In a continued effort to slow the spread of COVID-19, Minnesota Gov. Tim Walz has extended the state’s stay-home order until Monday, May 4. The order will enable the state to continue key preparations for the pandemic. These preparations include building new hospital capacity and buying ventilators and masks, planning for how to protect those most at risk, expanding testing, and freeing up time for health care giants like the Mayo Clinic to develop critical treatments for the virus. The order also extends the closure of bars and restaurants and requires all workers to work from home if possible.

April 9, 2020

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