Canadian Hoteliers Gain Access To Much-Needed COVID-19 Relief Programs
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The Hotel Association of Canada (HAC) has secured much needed COVID-19 relief for hoteliers across the country through 4 new federal programs. Across all four programs, the industry will have access to $11 billion in funding to help the industry recover from a tumultuous year.
The initiatives will now fall under the Highly Affected Sectors Credit Availability Program and provide low-interest loans for qualified businesses anywhere from $25,000 to upwards of $1 million.
In a recent statement, the Hotel Association of Canada (2021) explains that:
The new program will address many gaps in the previously announced Business Credit Availability Program (BCAP). With a supportive and engaged membership and regional Association partners, HAC is proud to have influenced every program announced that had applicability to the hotel sector. This support for hotels surpasses that of any other jurisdiction (par.3)
With substantial support from the federal government and hopes of a pandemic-free world at top of mind, the hotel industry now have the resources to sustain operations until they can operate at their full capacity once more.
Learn more about what these programs mean for the future of Canadian hoteliers
Reference
Canadian hoteliers get needed Covid-19 relief - REMI Network. (2021, February 04). Retrieved February 05, 2021, from https://www.reminetwork.com/articles/canadian-hoteliers-get-needed-covid-19-relief/
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