B/CS Hotels Estimated To Lose More Than $45 Million Dollars Through July Due To Coronavirus

A local group of hotel operators learn how much money is being lost due to coronavirus.

The Brazos Valley Hospitality Association recently learned the total loss of hotel revenue through the end of July is almost $45.5 million dollars.

Noel Mayes, who is the hotel operations director at the Oldham Goodwin Group, says that figures in the loss of Texas A&M’s family weekend and graduation weekend, the cancellation of the Texas state 4-H roundup and countless other events.

Mayes said the forecast is based on an analysis of actualized losses, cancellations, and prior year data conducted by the Oldham Goodwin Group.

Mayes estimated a hotel revenue loss of more than $474,000 dollars during the annual TEEX fire schools, which brings thousands of participants and hundreds of instructors during three weeks in July. Mayes used the economic impact calculator from Experience Bryan/College Station to estimate the overall economic loss from the cancellation of the fire schools at $2.2 million dollars.

Mayes says “As with everything related to COVID, it will change and evolve daily.”

As for federal assistance, Mayes says “the PPP program has provided some temporary aid, but it is akin to giving water to a dying man. Without a return of travel, there will be no travel industry.”