Senate Approves Amendment Pledging Support to Hospitality Industry
February 5, 2021
A bipartisan proposal geared toward assisting the travel and tourism industries passed a crucial first step with the U.S. Senate’s approval late this week. The measure, put forward by U.S. Senator Catherine Cortez Masto (D-Nev.) and Kevin Cramer (R-N.D.), prioritizes the devastated hospitality sector, as Congress works through President Biden’s proposed $1.9 trillion stimulus package.
The amendment was passed as part of the Senate’s budget resolution, which marks an important step towards passing COVID-19 stimulus legislation, Cortez Masto’s office said. It is an assurance that the country’s top lawmakers will prioritize travel and tourism. The most practical measure of the legislation is that the amendment establishes a deficit-neutral reserve fund to support hospitality, conventions, trade shows, entertainment, tourism, and travel and their workers.
“Our communities cannot afford to see these industries decimated, and I’m glad to have passed this bipartisan amendment to expand support for our struggling hospitality sector and provide relief for the workers in the industries hardest hit by this pandemic,” said Cortes Masto in a statement.
The senator’s home state of Nevada, and in particular, Las Vegas, has struggled mightily since the coronavirus gripped the nation last March. Several events scheduled for Las Vegas were canceled or moved elsewhere in 2020, forcing hotel closures and employee layoffs and furloughs.
While a handful of events are going on as scheduled, the pandemic has pushed a lot of hotels and event companies to the brink. Many are hoping to stay afloat long enough for vaccine distributions to not only inoculate the general public from the virus, but also the related fear of travel.
Caesars, for instance, is scheduled to host MPI’s World Education Congress in mid-June. A few weeks earlier at Red Rock Casino Resort and Spa, in May, Connect also is scheduled to host a large industry show.
These events, among some others scheduled in the first half of 2021, represent the beginnings of business travel picking up.
Best guesses place the true rebound for events to begin in the fall before heating up in the winter. Until then, the many industries reliant on out-of-town guests are in need of the type of financial support proposed in the stimulus package.
The Go Live Together coalition, an advocate for federal assistance for those industries, sent out a release praising Cortez Masto and the action. Cortez Masto “understands the economic impact” on the industry and “has championed legislation in support of our industry.”
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Partner Voices
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Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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