Business
Australian hotels say COVID-19 quarantine contracts ‘far from a licence to print money’ – ABC News
Hotel quarantine contracts are keeping some companies afloat, but occupancy rates are still well down on pre-COVID levels and it could take years before many city…
Hotel quarantine is now extremely costly for returning Australians and millions of dollars of that cash has flowed through to the upended hotel industry but hotel owners say it is just a drop in the bucket of what has been lost due to COVID-19.
Key points:
- State government tenders reveal hotel quarantine contracts are have been worth $1-7 million
- The Accommodation Association says hotel room revenue in Sydney’s CBD has fallen 70 per cent, even including quarantine income
- IBISWorld estimates a five-year…
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