President Trump Meets with Tourism Industry Executives on COVID-19 Response

The President: Well,
thank you very much. We have the tourism
industry executives, the biggest anywhere
in the world. These are the great ones,
and they’re going to say a couple of little words
pretty soon, I think. We’ll talk about their
company quickly and the number of employees and
what’s happened since the Chinese virus came about. And they’ll be
discussing that. So we’re joined this
afternoon by the true leaders of our nation’s
travel, hospitality, and tourism industries. And I want to thank you
all for being here. I’ve known many of
you for a long time. Great people. I want to thank Vice
President Pence for his tremendous leadership
on the task force. He’s done a great job. And thanks also to
Secretary Mnuchin over at the Hill. They’ve been working
— and Wilbur Ross and everybody, basically. They’re all working. We’re all working
very hard. We’re profoundly grateful
to all of the companies and organizations here
today representing tens of thousands of American
workers and really representing something
so important. It’s the place to stay
when they come to our country. Such a big business. One of the biggest
businesses. And thank you for adopting
additional protocols to keep Americans healthy,
including enhanced cleaning processes
throughout your hotels and buildings. We know that your industry
is among the hardest hit by the economic
impact of the virus. Our goal is to beat the
virus, and we will — we call it the hidden virus,
the hidden enemy — with aggressive action now
so that we can rebound stronger than ever before,
and that’s what we’re doing. And everyone is
cooperating. We’re really getting
tremendous spirit. Republicans are getting
along with Democrats, and a lot of good things
are happening. Yesterday, we issued new
guidelines for how all Americans can minimize
their risk of exposure and stop the transmission
of the virus. My administration has
taken decisive action to support American
workers and businesses. We love our workers. We love those workers. They’re incredible. And we’re going to come
out stronger than ever before. And it’s not going
to be so long. The IRS will defer tax
payments for affected individuals and
businesses. Today, the Senate is
taking up legislation to provide for free testing
— and that will happen — paid, sick, and family
medical leave and nutritional assistance
for the vulnerable. We’re announcing — and we
will be announcing again later on — that we’re
working with Congress to provide rapid relief for
affected workers and industries. And this will allow us to
emerge from the strongest economy on Earth because
we had, literally, the strongest
economy on Earth. And now this is in, as
of last count, over 124 countries, I understand. A hundred and
twenty-four countries. Unbelievable. But we’ll emerge — I
really believe we’ll emerge stronger because
we’ll be doing things differently than this
country has done them in the past for many,
many decades. And we’re deeply committed
to ensuring that small businesses have the
support they require. The Small Business
Administration announced disaster loans, which
provide impacted businesses with
up to $2 million. And we’ve asked Congress
to increase the SB lending authority. We’re going to be going
up to $50 billion and, actually, much more than
that for small businesses. So they’ll be helped. In your cases, they’re
very big businesses, but it’s a lot of employees. And so we appreciate
it very much. We appreciate
your being here. And maybe, in front of the
media, you could say a couple of words about your
companies and the number of people you employ. And I pretty much know
every one of you in that respect. It’s a lot of people
and great companies. Please. Mr. Nassetta: Hi. I’m Chris Nassetta. I am CEO of Hilton. And we have 6,000 hotels
around the world, about 4,500 hotels in the great
United States of America. We employ, globally, about
450,000 people, about 260,000 people
here in America. Mr. President, on behalf
of everybody — I’m sure you’ll hear this from
others — we appreciate you having us here. We appreciate all that
you’re doing today to keep all of us safe and secure
first, and working on trying to secure a good
future for the economy, as you point out, that was
quite strong but obviously being impacted by this. The President: Right. Mr. Nassetta: Vice
President Pence, to you and all others that are
working on this day and night, we appreciate it. As the President pointed
out, we’re, you know, one of the biggest industries
in the country. We’re one of the biggest
employers in the country. And our industry, as you
will hear from others, has been impacted in a
devastating way. I personally lived through
many crisis, starting with the S&L, the 9/11 crisis,
the Great Recession. I’ve been doing
this for 35 years. Never seen
anything like it. And so, you know,
we’re hoping to have a constructive dialogue
about, you know, how we protect the small
businesses that make up the bulk of this industry
and how we protect the people on the frontlines
of this industry — that number, 5 million people
— that, at this point, given what’s going on
in our industry, are in harm’s way. So — The President: And
tell me: So you’re in many countries. And how are you doing
in other countries? Some are in very, very
bad shape, I know. Mr. Nassetta: I would —
you know, I was looking at our numbers last night;
it is strikingly similar everywhere in the world. If you look at the — you
know, around the world, we — within, you know, I
would say, just a few — you know, a few days or
maybe a week, we will probably be running 10 to
15 percent occupancy in the world. The President: And that’s
pretty much all over the world. Mr. Nassetta: That’s
everywhere in the world. It’s a little bit better
here, but — but catching up. If you look at the major
cities around the United States, they’re running in
the single digits, which means, for the first time
in 100 years — Hilton has been around 100 years —
we’ve never closed a hotel that wasn’t going to be
demolished for rebuilding. The bulk of our hotels
in the major cities are closing, as we speak. The President: Well, we’ll
get it open soon and we’re going to — we’re doing a
— we’re doing a yeoman’s effort. I think it’s — we’re
going to be very successful. You’ll be back
in business soon. But we have to keep
your employees going — Mr. Nassetta: We do. The President: — and
the businesses going. And we — Mr.
Nassetta: Yeah. That’s our first priority. The President: And we will
be able to do that, Chris. Thank you. But all over the world,
it’s a disaster. Mr. Nassetta: All over the
world, it’s a disaster. There’s not one part of
the world that’s not being — The President: Yeah. It’s all over. Mr. Nassetta: —
severely impacted. The President: Yep. Thank you very much. Please. Mr. Kong: Mr. President,
Mr. Vice President, Secretary Ross, thank you
for taking the time to see us, and thank you for
everything that you’re doing. The President:
Thank you very much. Mr. Kong: We very
much appreciate it. I’m the President and CEO
of Best Western and also WorldHotels. We have about 5,000 hotels
around the world; half the hotels are in the
United States. We employ tens of
thousands of employees in our company. As Chris has already
alluded to, this is a very difficult time and very
challenging times for us. Just today, I had a
call with one of our franchisees. He was lamenting that,
although he owns about 10 different hotels and
different brands, and some with us and some with
other brands, he was lamenting having to lay
off tens of hundreds of people in his company. Some of them have been
with him for 20, 30 years. And he was really
concerned about their livelihood and
their safety net. And the other thing that
he mentioned was, if the government can help with
liquidity and access to capital, that would be
of great assistance. The President: Yeah. Mr. Kong: And he
specifically mentioned that his loans were —
swap loans and therefore there are severe
penalties to refinance. And so if there’s any way
to alleviate that burden, they would be — The
President: With the banks. Mr. Kong: —
most grateful. The President: Yeah. We’re dealing with the
banks too, and the banks have been very
accommodating. They will be. I think they will be. Mr. Kong: Thank you. The President:
Thank you, David. I appreciate it. Please. Mr. Sorenson: Thank
you, Mr. President. Arne Sorenson,
CEO of Marriott. Thanks for giving us your
time this afternoon, and — The President:
Thank you. Mr. Sorenson: –
appreciate the leadership of all of you as we go
through — The President: Great job. Good job. Mr. Sorenson:
— this crisis. The — I don’t need to
repeat much of what’s been said. We think we have about
750,000 people that wear our name badge around
the world every day. The President: Right. Mr. Sorenson: Probably
about two-thirds of those in the United States. The President: How
many hotel rooms now, worldwide? Mr. Sorenson: 1.4 million. Just shy of 1.4
million hotel rooms. And, as you know, the
business is made up of hotels we run. Often, the hotels are
owned by other investors, but we will operate them,
and then also by franchise operators. And they are typically
owner-operators. They might range from a
Fairfield Inn in suburban or rural market, all the
way up to a Ritz Carlton or a St. Regis someplace. And you asked
about the globe. You know, in January — of
course, this all starts in China — business
falls by 90 percent. The President: And this
all started in China. Mr. Sorenson: All
started in China. The President: That’s
where you first saw the problem and it’s where
you first got hit. Mr. Sorenson: Absolutely. Third week in January, and
within a week, business — The President: I hope
you all heard that. Mr. Sorenson: — business
is down about 90 percent. And you’ve been living
this just the way we have. About three weeks ago, we
had that horrible weekend where it shows up in
Korea and in Italy. They are, sort of, a
clarion call, if you will, that it has left China
and it — The President: Right. Mr. Sorenson: — and it is
moving to the rest of the world. And while we didn’t know
exactly how it would show up in the United States,
it was fairly clear that it was now a
broader spread. And, from that — The
President: Is China doing better now? Mr. Sorenson: China, there
are starting to be some green shoots. So, Macau, for example, we
think we bottomed at about 2 percent occupancy. We think we — The
President: Two percent? Mr. Sorenson: Two percent. The President: In Macau? Mr. Sorenson: Yeah. The President: Wow. Mr. Sorenson: And we think
we might be approaching 30 [percent], as
of last night. Now, that’s probably one of the stronger markets in China. The President: Well,
that means it’s coming. It’s (inaudible). Mr. Nassetta:
It’s coming back. Mr. Sorenson: And so
they’re trying to get things going again, but
we’re still, in the rest of the world, including
the United States — I get dailies, of course, of
new reservations and cancellations — in every
other market, the numbers are continuing to go down. So we — I don’t think
we’ve bottomed anywhere else yet. In the U.S., in the last
couple of days anyway, when you look at decline
in reservations and in cancellations, the
total is negative. The President: Right. Mr. Sorenson: So we’re
losing business every day, (inaudible). The President: No,
we’re in that process. We haven’t hit
that top yet. We’re in the process. Mr. Sorenson: Yeah, I
think that’s right. And, of course, we’ll have
some time with you today. But employees, first, and
I think — The President: Right. Mr. Sorenson: –
liquidity, second, is the two things that
are on our list. The President:
Thank you very much. Thank you. Mr. Maalouf: Thank
you, Mr. President. Elie Maalouf with
InterContinental Hotels Group, Chief Executive
of the Americas. Thank you, Mr.
Vice President. We have nearly 6,000
hotels around the world, over 3,800 hotels in
the United States, over 530,000 rooms. Eighty percent of those
are owned by small business people across
50 states, across every county, across
every community. So we’re experiencing the
same impacts similar to what the industry, the
HLA, and our colleagues here have been
talking about. But I want to turn our
attention to those small business owners in
50 states across the communities because
they’re the bedrock of those communities. And as they’re getting
impacted, it’s not just their employees that begin
to see an impact in job losses, but it’s an
entire ecosystem of their suppliers, their vendors. And so I think — I’m very
pleased that we can work together with you and the
administration to find a solution to preserve that
— The President: We will. Mr. Maalouf: — network of
entrepreneurs across the country. The President:
Yep, we will. Mr. Maalouf: Thank
you, Mr. President. Mr. Pacious: Thank you,
Mr. President, Mr. Vice President. Patrick Pacious,
CEO of Choice Hotels International. We have 6,000
hotels in the U.S. That’s 1 out of every 10
hotels flies our flag. As others have talked
about, we’re in secondary and tertiary markets. We may be the only
hotel in a small town. Those owners have two key
concerns: one, what do they do with their
employees when they’ve got zero occupancy? And two, how do they
pay their mortgage? So it is this question of
employee retention and liquidity so that you
get through this period. Ninety percent of our
hotels are SBA eligible, so we’re very familiar
with the SBA loan program and the disaster relief. There’s some red tape
there that we have some suggestions that we think
the SBA could — The President: Okay, give
us those suggestions. Mr. Pacious: You
want them right now? The President:
Yeah, go ahead. Mr. Pacious: I’ll give
them to you right now. The first is the
disaster relief cap. It’s only 2 million, and
if you’ve taken out the full 5, you can’t get
access to the — to the additional 2. The President: I see. Mr. Pacious: So we
need the cap raised. The President: To what? Mr. Pacious: We need it to
— at least raised to 10 — 10 million on a per
— per-individual basis. The President: Okay. Mr. Pacious: Secondly is
the personal liquidity test, which just
got put in place. That could be rolled back. And the final one
is figuring out the affiliation. So an individual may own
a partnership in multiple hotels. The President: Right. Mr. Pacious: So that again
restricts the amount of capital available to them. So we’d really like the
opportunity to speak to the SBA about lifting some
of those requirements to really help inject
more liquidity. The President: So it’s
individual properties, instead of — instead of
accumulated properties? Mr. Pacious: Absolutely. The President: Okay. I got it. Thank you very much. Thank you, Patrick. Mr. Hoplamazian:
Thank you. Mark Hoplamazian,
CEO of Hyatt Hotels. The President: Right. Mr. Hoplamazian: We have
950 hotels around the world and we have 600 in
the United States, over 70,000 employees. And I’m not going to
repeat a lot of the things that were said. We’ve been tracking — we
have a large base of group business in the
United States. Big convenings
and conventions. And we’ve been tracking
major cancellations. We now have
tracked, in the U.S. alone, canceled events —
and I’m not talking about major sport leagues that
have — the sports leagues that have shut down or
universities and those kinds of things — but
actual convenings, conventions, big meetings. The President: You have
some of the sports leagues, right? Mr. Hoplamazian:
A customers. The President: You
have quite a few? Yeah, I would think so. Mr. Hoplamazian: Yeah, but
when we look at just the other meetings that have
been canceled, they involve attendees of over
one and a half million people. So when you think about
the ecosystem impact — it’s major convention
markets where those attendees are
not showing up. So they’re not traveling
on airplanes, but they’re not staying in our hotels. They’re also not going
out to restaurants. And so the collective
impact is quite significant. I think the key issue that
I would leave you with is that the urgency is very
high because, day by day, the occupancy rates have
dropped precipitously. So now we are seeing
occupancies below 10 percent, in the single
digits, for the vast majority of our hotels —
whereas a week ago, they were 20, 30 points
higher than that. It’s happened
very rapidly. The President: When this
ends, do you see a quick build up? Mr. Hoplamazian: I think
that all depends on how — how confident people are
to get back on planes and start traveling again. The President: Right. Mr. Hoplamazian: So I
think that’s really the key issue. We’ve got to also position
ourselves to get people back into their jobs. Either retain them or
rehire them: One of those two things are critical. Because we all are proud
of the people that we employ and we want
to retain them. So whether we can retain
them or have some assistance in getting them
rehired early so that we can spool back up. The President: Hopefully
you can retain them. Mr. Hoplamazian:
Hopefully. Hopefully, we
can retain them. The President: So that’s
what we’re shooting for. You want to retain them. Mr. Nassetta: I think the
issue of that — sorry to interrupt, Mark —
Mr. President, is that when our owners are
running 8, 9 percent — The President: Yeah? Mr. Nassetta: They said,
“We’re shutting hotels.” So all of those employees
are being furloughed or laid off right
now, day by day. The President: Right. Participant: (Inaudible.)
Mr. Nassetta: You know, Jim Murren is here somewhere —
80,000 people this week. We’re tens of thousands,
because our owners can’t pay it. Mr. Hoplamazian:
Well, that’s the key. The key issue that I was
really making is the timing. It’s really — it’s
happening instantaneously. The President: Okay. Mr. Nassetta: One of the
things we could — yeah, we want to talk about
is trying to, you know, create a fund for those
people in order to stop that from happening,
because it — The President: What kind of
a fund would that be? Mr. Nassetta: I think that
would have to — you know, in lieu of sort of the
unemployment insurance, it would be — The President:
In terms of dollars. Mr. Nassetta: I think the
fund for that, probably our — our quarterly
payroll for the industry is $45 billion in total. So that would be sort of
— The President: Forty. Okay. Mr. Nassetta: You can
sort of scale it there. The President: I got it. Yep. Mr. Nassetta: Yeah. The President: I got it. Mr. Brown: Mr. President
and Mr. Vice President, thank you for your time. I’m the CEO of Wyndham
Destinations and we’re in the vacation ownership and
exchange business, the world’s largest
company in that space. We employ 23,000
associates and take care of over 5 million
households on vacation every year. Largely in the industry,
it’s about a $80 billion impact to the
overall economy. And we employ, directly,
250,000 and another 250,000 through other
small businesses that work well with our industry. To your point about a
quick recovery, we purely serve a leisure customer,
which means — just like after 9/11, just after
that ’08, ’09 — our customers will be back
really quick, as soon as we’re on the other side. And they — we really
believe our industry will recover quickly and be
an accelerant — The President: I
think so, too. Mr. Brown: — an
accelerant back to the economy once we get
on the other side. The President: Right. I think so, too. Thank you very much. Great job. Thank you. Mr. Murren: Thank you, Mr. President, Mr. Vice President. It’s Jim Murren — The
President: Hi, Jim. Mr. Murren: — the
chairman and CEO of MGM resorts. It’s good to see
you all again. Mr. Secretary. The President: We
couldn’t get you a chair? What happened? (laughter) Mr. Murren:
Well, we’re in the spatial recognition world. But I just wanted to say,
on behalf of MGM, we have made a decision around the
country to close our resorts. And tomorrow night, we
will close all of the resorts in Las Vegas. That’s 70,000 people we
are now putting on a furlough. I want to retain
those employees. I want to bring them back
as soon as possible. Las Vegas, as you know,
will come back rapidly once the -you give
us the green light. The President: I think so. Mr. Murren: But it’s very
important that we keep these people on our
payrolls as soon as possible. I also represent the 2
million jobs of the gaming industry in the
United States. And, as you know, many
of those casinos are in cities that rely upon them
for their tax revenue. So I appreciate your
efforts, and I stand by to help you in any way I can. The President: Okay. We’ll get it done, Jim. Mr. Murren: Thank you. The President:
We’ll get it done. Mr. Bates: I’m
Richard Bates. I’m with the Walt
Disney Company. And today I’m here for the
theme park and hotel/motel business. The President: Good. Mr. Bates: So, thank you,
Mr. President, Mr. Vice President, Mr. Secretary. We have about
220,000 employees. We think our company is
great because of our employees. So employee retention is
the single most important issue for me. Second would be liquidity. So I, frankly,
support some kind of employee/employer
payroll tax holiday. I don’t know if you’re
still — The President: Is that what you like the
best of the various scenarios? Mr. Bates: I
like them all. (laughter) But that
one I like a lot. The President:
Most direct. Not as quick,
but most direct. Mr. Bates: I think so. The President:
Thank you very much. Mr. Murren: Especially,
Mr. President, because a lot of us who have — like
Disney voluntarily closed their parks, so they have
people out of work today. And as has MGM — we have voluntarily closed these resorts. And if we can get some
relief on that, we will absolutely want to keep
these people employed. The President: Let me ask
you, the parks outside of the United States — Mr.
Bates: They’re closed. The President: Closed? You closed all of —
all of your parks? Everything closed? That’s a real worldwide
problem isn’t it? Mr. Bates: Absolutely. The President:
That’s incredible. Mr. Murren: And I’m
sorry, one last point, Mr. President. The President: Yes? Mr. Murren: And, on Macau,
because Arne Sorenson was talking about it. The President: Right. Mr. Murren: Of course, we
own two resorts there. The government shut those
casinos down, as you know, for two weeks. We’re starting to slowly
see a recovery there, but it is absolutely
single-digit occupancy right now. So we’re not seeing any
better results there currently. The President: Okay. Good. You guys okay? Yes, please. Mr. Rogers: Chip Rogers,
President and CEO of the American Hotel and
Lodging Association. I’ll be quick. Industry wide, last year,
occupancy was 67 percent. That helped support
8.3 million jobs. Right now, as these
gentlemen have indicated, we’re probably under 20
percent nationwide and headed south. If, by the end of the
year, we get up to 35 percent and if nothing
else happens, that’ll be about 4 million jobs lost. That’s if we can get
back up to 35 percent. The President: But they’ll
come back as we age a little bit, right? Mr. Rogers: Yes. The quicker the better. The President: I hope so. I think so. It may come back fast. Thank you very much. Thanks, Jim. Okay, thank you
all very much. Thank you. Please. The Press: How much money
are you talking if you have to send checks
to everybody? How much money are
you talking about? The President: That’s
all being figured now. And we’re also helping
industries like Boeing. We have to help Boeing. We have to help the
airline industry. It wasn’t their fault. This wasn’t their fault. And we will do that. We’ll be doing that. So we’re adding it up. It’ll be fine. It’ll come back very
quickly once we’re finished with our
war with the virus. Okay? The Press: Mr. President,
this idea of a payroll tax holiday — nothing as big
as 12.4 percent has ever been tried. They did 2
percent in 2010. The President: They’ve
done it in smaller amounts. Yes. The Press: They’ve done
it in smaller amounts. The President: But we have
a lot of other — The Press: But can the country
afford something that big? The President: Right,
we’re — well, it can definitely afford it. The question is, do
we want to go through payroll, or do we want to
do — you know, there are four other ways
of doing it. And that’s what we’re
determining, along with the Senate, right now. The Senate and House —
we’re all working on this together, John. Thank you all very much. The Press: Mr. President,
what’s your message to the tens of thousands — the
tens of thousands of employees of all of these companies who have been furloughed? They live paycheck to
paycheck, in many cases. What is your message to
them, Mr. President? The President: Well, the
message is that this was something that happened. It’s nobody’s fault. It happened and we’re
going to take care of it. We’ll be bigger, stronger,
better than ever before and it won’t take that long.
Thank you very much.

38 thoughts on “President Trump Meets with Tourism Industry Executives on COVID-19 Response

  1. We Know About "EVENT 201" . We Know Agenda 21 Started With 911, Blood Sacrifice . And We Know You Are On Our Side . Put Bill Gates And Family On A Cruise Ship With The Poor People That Have So He Can Die Like The Slime He Is.


    I typed in 'the white house and just 'white house' and nothing came up for this channel other than all the other MSM videos; I had to go into my 'history to find the link for
    this channel! (i've now bookmarked it) ITS TIME TO STOP THE INSANITY OF SENSORING.


  3. Try to Build a few Hot Stone Sauna or Steam Bath and Tests all of infected Patients,
    What do you have to lose.

  4. Remember when you all had me homeless and wouldn't let anyone open their door for me or allow me to get a job 💯🤔🗣️🗣️🗣️🌎🌎🌎💡💡💡😐

  5. You are a blessing. President Trump, you are the "John Wayne" of the political world😊 You have true grit!!!!!!!! Prayers for you and yours, and stay rested #Maga

  6. This video alone is why Trump is the President we've needed for a very long time in the USA. He understands business.. he can have these conversations and this is where he can keep us afloat in this time of crisis. I trust him with our well being overall.

  7. We need a FREE covid test: can't get on plane, cruise, resort, hotel, casino, university, assisted living facility, large sporting event without one

  8. We are lucky right now that we have a President that knows about business that’s why He summons them to the White House according to business category.

  9. Should there be a reason and way to sue the country that caused this financial crises for everyone else? It is not anyone's fault, yet they have suffered due to someone's negligence.

  10. Lest we forget…..This incompetent perverted president was blaming the press and the Dems for the virus only two weeks ago

  11. Thank you President Trump! Please also set a standard with the hotels and others that are not refunding funds from trips that are forced to be canceled due to a National Pandemic and can not be rescheduled. If they are going to receive funding, the hotels should also be refunding payments, especially when these are non-profit school groups, which leads to families, that are losing thousands of dollars now due to this. Will you help these non-profits get refunds from specific entities or can we also receive government funds to cover these losses?


  13. never had american flags enough for show, put some more around this crisis meeting table always rise the american proud for the troops and god want it to for sure

  14. We have is Coronavirus problem because of foreigners they are nasty and dirty no foreigners no for and ideas no foreign things shutdown America the Soviet Union had a good idea and that's why they stayed safe

  15. We should never travel to foreign countries nor should we let foreigners in they are dirty and nasty and that is what has given us has huge problem

  16. Why doesn't Trump confiscate China's $1 trillion in US Treasuries as compensation for their damage to the US economy? A Congressman is calling for this.

  17. They r still downing you and what you doing .cumo de Blasio said you're not doing enough and I don't believe them you're doing everything possible this was put in your lap like in a day

  18. Mr. President
    good work


  19. Please support our small businesses in the tourism industry

  20. I have loved President Trump way before he was a president and I felt he doesn’t play around. America is lucky God chose him for them.

  21. I have loved President Trump way before he was a president and I felt he doesn’t play around. America is lucky God chose him for them.

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