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Housekeeper at the Mills House Wyndham Grand Hotel in Charleston, South Carolina. Photo: Jeffrey Greenberg/Universal Images Group via Getty Images

The novel coronavirus has already had a more severe economic impact on the hotel industry than the Sept. 11 terrorist attacks and the Great Recession combined, according to an industry trade group.

Why it matters: Some 45% of all hotel jobs have been eliminated or will be eliminated in the next few weeks, says the American Hotel and Lodging Association. Current forecasts of a 30% drop in hotel occupancy over a full year would result in the loss of nearly 4 million hotel jobs, from general managers to housekeepers.

What's happening: Travel industry officials are meeting with the White House's coronavirus task force Tuesday afternoon to discuss the "catastrophic economic impact on the hotel industry, its employees and U.S. economy."

  • Given the current impact of the virus on travel demand, the hotel industry is losing $1.4 billion in revenue every week.
  • Marriott Hotels began furloughing what it expects will be tens of thousands of employees worldwide because of widespread travel cancellations across the globe, the Wall Street Journal reports.

What to watch: The industry says it will recommend "urgent action and specific solutions" to protect millions of hotel jobs and some 33,000 small business hotel operators and franchise owners representing 61% of the industry.

Go deeper

Delivery industry sees biggest monthly job losses in more than 20 years

Data: U.S. Bureau of Labor Statistics; Chart: Axios Visuals

The pandemic's biggest job winner is losing steam.

Driving the news: People who deliver packages to businesses and homes — classified as "couriers and messengers" by the Labor Department — saw the industry's biggest monthly job losses in more than 20 years in April.

FDA authorizes Pfizer COVID vaccine for 12- to 15-year-olds

Photo: Gabby Jones/Bloomberg via Getty Images

The Food and Drug Administration authorized the emergency use of the Pfizer-BioNTech coronavirus vaccine for 12- to 15-year-old adolescents, the agency announced on Monday.

Why it matters: The emergency authorization marks a critical milestone in the push to get more Americans vaccinated and fully reopen schools for in-person learning this fall.

GOP to vote on ousting Liz Cheney this Wednesday

Photo: Tom Williams/Pool via Getty Images

House Republicans will vote on recalling Rep. Liz Cheney (R-Wyo.) as conference chair this Wednesday, House Minority Leader Kevin McCarthy announced in a letter Monday, Punchbowl News reported.

Why it matters: Cheney, the No. 3 House Republican, has faced increasing backlash from McCarthy and her Republican colleagues as she continues to criticize former President Trump and his baseless claims of election fraud.