Skift Take
Hotel CEOs realize that if tourism to the U.S. drops, it could have a significant adverse impact not only on their own businesses but the industry, and the economy, as a whole.
Loews Hotels CEO Jonathan Tisch issued an impassioned call for the hospitality industry to rally together to prevent another “lost decade” of travel.
Speaking to an audience of hospitality industry executives at the 39th annual NYU International Hospitality Conference in New York City on June 5, Tisch asked industry leaders to respond to a number of recent initiatives and policies being floated by President Trump including “extreme vetting,” travel bans, and the proposed elimination of Brand USA.
“Ending this 10-year slump required a united industry effort to push for pro-travel policies,” said Tisch, in reference to the more than $600 billion lost in traveler spending and 467,000 jobs lost following the September 11 attacks in 2001. “We learned some valuable lessons that we need to put into action again today.”
No doubt, given the recent terrorist attacks that have taken place in the UK, France and Germany within recent months, there are some parallels between what happened in 2001 and what is taking place right now.
Tisch added that the travel industry generated $246 billion in U.S. exports in 2016, cutting nearly $90 billion off of the country’s trade deficit.
“Travel drives the U.S. economy,” Tisch said. “It’s our job to engage the new leadership in Washington to make sure they understand the role we can play in achieving our shared economic goals. If the Trump administration really wants to cut the trade deficit, they’ll need our help.”
Keeping Brand USA Alive
On the other hand, eliminating Brand USA, the organization tasked with promoting travel to the U.S., would increase the federal deficit by $510 million over the nex
