Bloomberg

Empty hotels create $17 billion budget hole for local projects

A sharp decline in travel during the covid-19 pandemic will cost governments roughly $17 billion in revenue from taxes on hotel occupancy, corporate profits and other levies in 2020, according to a study by Oxford Economics. Foto: AP/Elaine Thompson

Empty hotel rooms are leaving gaping holes in state and local budgets.

A sharp decline in travel during the covid-19 pandemic will cost governments roughly $17 billion in revenue from taxes on hotel occupancy, corporate profits and other levies in 2020, according to a study by Oxford Economics...

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