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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

3 hours ago - Health

Food banks feel the strain without holiday volunteers

People wait in line at Food Bank Community Kitchen on Nov. 25 in New York City. Photo: Michael Loccisano/Getty Images for Food Bank For New York City

America's food banks are sounding the alarm during this unprecedented holiday season.

The big picture: Soup kitchens and charities, usually brimming with holiday volunteers, are getting far less help.

5 hours ago - Health

AstraZeneca CEO: "We need to do an additional study" on COVID vaccine

Photo: Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

AstraZeneca CEO Pascal Soriot said on Thursday the company is likely to start a new global trial to measure how effective its coronavirus vaccine is, Bloomberg reports.

Why it matters: Following Phase 3 trials, Oxford and AstraZeneca said their vaccine was 90% effective in people who got a half dose followed by a full dose, and 62% effective in people who got two full doses.

Updated 7 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus cases rose 10% in the week before Thanksgiving.
  2. Politics: Supreme Court backs religious groups on New York coronavirus restrictions.
  3. World: Expert says COVID vaccine likely won't be available in Africa until Q2 of 2021 — Europeans extend lockdowns.
  4. Economy: The winners and losers of the COVID holiday season.
  5. Education: National standardized tests delayed until 2022.