Business
The coronavirus is changing how big companies contribute to America’s safety nets — rethink capitalism
B Lab co-founder talks coronavirus and stakeholder capitalism – Business Insider
March 27, 2020
Find help during job loss or major business setbacks in the tourism industry
Assistance is available to help all stakeholders in the tourism industry get back on their feet.
The For Good Movement and Florida for Good (FFG) were founded on the principles of helping businesses in our state become more conscious, sustainable and focused on people and the planet instead of just profit. We put a strong sense of community at the core of all we do and the resources we provide. Having been co-created in partnership with a hospitality company, that sense of community is stronger than ever during this unprecedented time for an industry that has had a devastating impact as a result of the coronavirus.
While the situation is temporary, no one knows for certain how long it will last. What we do know is that these changes are significant and sudden and are unprecedented for businesses in the travel space with a financial impact worse than the 2008 Financial Crisis and 9/11 combined. The American Hotel and Lodging Association reports that based on current occupancy estimates for the immediate future and historical employment impact rates, 1 million direct jobs, or nearly 3.9 million total jobs, have either been eliminated or will be eliminated in the next few weeks, and since mid-February in the U.S., hotels have already lost $2.4 billion in room revenue.
FFG hopes to be a resource for hospitality business not just in our state but around the world. Please find helpful links below geared toward the hospitality industry. Our network understands the immense strain that many businesses are feeling at the moment in regard to their members’ financial strength and increasing stress. Please know we are here to assist and support, whether that be with information on SBA loans, Remote Working Environment Advice continuing on their B Impact Assessment or access to free/discounted resources and services.
One thing we do know is that this will not last forever.
For now, we encourage you to make unforgettable memories with family and friends at home, stay safe and draw close to what matters most. When this challenging time passes, we will be stronger and more eager to share in the human experience and explore our world together again. Travel is magical – it breaks down cultural differences, connects us to life and cultivates connections with our loved ones, all while reducing stress and enriching our lives. When the time comes, we cannot wait to join explorers from around the world and enjoy the wonder of travel together again.
Image courtesy of Visit Tampa Bay
Every American and community should be taking measures to decrease the spread of the coronavirus
Learn How to Stop The Spread
Impact on the Tourism Industry
Since the Virus Started
-
Based on current occupancy estimates for the immediate future and historical employment impact rates, 1 million direct jobs, or nearly 3.9 million total jobs, have either been eliminated or will be eliminated in the next few weeks.
-
Since mid-February in the U.S., hotels have already lost $2.4 billion in room revenue.
-
This figure is rapidly accelerating with hotels currently on pace to lose more than $200 million in room revenue per day based on current and future reported occupancy rates.
-
This pace means a loss of $1.4 billion every week and will only further escalate as the situation worsens.
-
Most hoteliers are reporting projected revenue losses of greater than 50% for the first half of the year.
-
The human toll is equally devastating with the majority of hoteliers as well as major hotel managers already reporting significant layoffs and furloughs, in many cases affecting 80% or more of staff.
-
Individual hotels and major operators are projecting occupancies below 20% for upcoming months. At an occupancy rate of 35% or lower, hotel may simply close their doors, putting 33,000 small business at immediate risk.
Help For Employees
We are actively researching organizations and foundations who are providing support to workers/employees in need. Click to see a preliminary list. We will continue to add to it.
Help For Employers
COVID-19 has caused every business to make necessary changes to help eliminate the spread of the virus. Click here to view resources for business owners.
B Corp Leaders Leading the Way
Donating shoes to anyone who works in healthcare and is on the front lines of fighting COVID-19 right now.
Temporarily closed stores, offices and other operations in the United States, yet still paying workers.
Between 3/17 – 3/24 we provided over 1,000 meals, so far, for those in need in San Francisco, Oakland, and LA.
Serving contingency meals for school and community relief sites during COVID-19 school closures.
Practice Self-Care
Yoga
Check-out yogadownload.com for hundreds of online yoga and meditation classes to practice in the comfort of your own home – many of which are free.
Smoothie Recipe
Eat foods that boost your immune system (fresh fruits and veggies if you have access to them).
We love the Glowing Green Smoothie by celebrity nutritionist Kimberly Snyder.
Get Outside – With Distance
Spend time in nature: go on a hike
Positive Affirmations
Practice positive affirmations. HERE are 72 Positive Affirmations for Anxiety and Depression from the Positive Affirmations Center.
Workout
Do a free virtual 305 Fitness workout class HERE. We both did it todayand felt so joyful afterward.
Art
Feel like you’re visiting a museum through a free virtual tour. View participating museums HERE.
Music
The Met Opera is live streaming performances this entire week HERE.
Meditation
Try Dr. Tara Brach’s mindfulness meditations free HERE.
Podcast
Time Ferris featuring Jack Kornfield – How to Find Peace Amid COVID-19: How to Cultivate Calm in Chaos
AHLA launched the “Hotels for Hope” initiative to boost collaboration between the hotel industry and local, state and federal governments to help employees, communities across the country, and the industry during this unprecedented health crisis.
As part of this initiative, AHLA recently announced a partnership with AHLA’s partner state associations to support communities across the country by connecting hotel properties with the health community, struggling to find housing and support as the COVID-19 public health crisis grows.
To help match and streamline the process, AHLA is working with HHS to create a national database. Government officials will be able to search willing properties based on geographic location.
