Media Advisory for Virtual Press Briefing on Wednesday, December 9, 2020

07/12/2020 10:33

Banks or hospitality workers: who benefits under proposed HASCAP program?

Media briefing on new report considers true beneficiaries of hotel relief

TORONTO, Dec. 7, 2020 /CNW/ - WHAT: UNITE HERE Canada, the hospitality workers union, will host an on-the-record press briefing on UNITE HERE Canada's new report, Demystifying Canadian Hospitality Bailouts: Who Gets Relief and Who Get Relieved? The report shows how relief for the hotel sector under the federal government's new funding facility, the Highly Affected Sectors Credit Availability Program (HASCAP), may ultimately benefit profitable bank lenders, not thousands of laid off hotel workers. A question and answer period will follow the briefing; the report will be made available afterwards.

WHEN: Wednesday, December 9 at 12:30PM ET / 10:30AM MT / 9:30AM PT 

WHERE:  Register for access information here:
https://us02web.zoom.us/webinar/register/WN_Z80Sjy1PTLKBT06Z0AQpbg 

WHO:  Ian Robb, UNITE HERE Canadian Director; Melissa Sobers, Research Analyst and report author; and UNITE HERE hospitality members

WHY: Debt-laden hotel owners have passed up tens of billions of dollars in available money to retain workers through CEWS and could soon access low interest loans fully guaranteed by the federal government under HASCAP. Since the Great Recession, the hotel industry has entered over $19 billion worth of real estate deals. The new report by UNITE HERE Canada identifies Canada's Bix 6 banks – not hospitality workers or mom-and-pop hoteliers – as the ultimate beneficiaries of federal government relief. The report takes a closer look at hotel ownership in Canada's largest urban markets, Toronto and Vancouver, to illustrate who may seek relief under HASCAP.

UNITE HERE Canada represents over 18,000 hospitality workers across Canada. UNITE HERE is a labour union with over 300,000 members working in the hotel, gaming, food service, manufacturing, textile, distribution, laundry, transportation, and airport industries in North America.