“We have to get back to the basic problem that many of these tenants simply don’t have the income to pay the rent,” said Barry Zigas, senior fellow at the Consumer Federation of America.
Occupancy for U.S. hotels averaged 44 percent in 2020, the lowest number on record, according to STR.
Revenue from the Trump hotel in Washington, D.C. and hotel properties in Las Vegas fell by more than half from 2019.
Biden plans to sign a package of executive orders within hours of the inauguration, including delaying the expiration of the moratorium.
