People wearing protective face masks ride an escalator — Photo by 2020 BLOOMBERG FINANCE LP

The COVID-19 health crisis is unprecedented in its size and scope, and represents the single largest decline in travel in modern times. And its effects on the hotel industry are already staggering.

The American Hotel and Lodging Association, the nation's leading and largest trade association for hotel industry, is projecting 3.9 million job loss for the industry with current pace of occupancy decline for the year.

The economic impact on the hotel industry is already more severe than the 9/11 and 2008 recessions, combined. The impact of the coronavirus pandemic on 33,000 small business owners who operate 66 percent of hotel properties across the country has been extremely severe with many considering shuttering and closing their doors for good within days if they haven't closed already.

Read the full article at Forbes