Ford also is working with GE Healthcare
to quickly double production of a more
sophisticated ventilator at a factory in
Madison, Wisconsin.
The ventilators to be built in Michigan are a
designed by Airon Corp. Ford says they work on
air pressure, not electricity, and can handle the
needs of most COVID-19 patients.GUESTS ARE GONE
Hotels are bracing for a colossal drop in revenue
this year. STR and Tourism Economics — two
data firms — forecast revenue declines of 51%
per available hotel room.
Revenue per available room is a key industry
statistic; it grew for 10 years straight before
reaching a record of $86.76 in 2019.
The American Hotel and Lodging Association
estimates around 8% of U.S. hotels —
representing around 400,000 rooms — are now
closed. The association estimates 1.6 million
hotel jobs will be lost over the next few weeks.
Marriott International — the world’s biggest
hotel chain — has furloughed about two-thirds
of its 4,000 corporate employees. Hilton plans
furloughs or reduced hours for much of its
corporate staff starting next week.THE VIRUS
Johnson & Johnson expects to begin human
clinical studies of its “lead vaccine candidate”
no later than September. The company said the
first batches of a COVID-19 vaccine could be
available for emergency use in early 2021.
Shares of Abbott Laboratories jumped more
than 6% Monday in the first day of tradingImage: Julio Cortez