Snapshot Released on 2nd Anniversary of Shutdown

Two years ago today, foodservice and other hospitality businesses were shut down as the state grappled with uncertainties around the developing COVID-19 pandemic.  No industry has been hit harder by the following economic conditions, including shutdowns and limitations that reduced revenue by an equivalent of up to 249 days.  Experts project that Minnesota’s hospitality and tourism industry lost over $15 billion in revenue.  At the same time, operators’ bills for rent, mortgage, insurance, utilities, taxes, and other costs continued unabated, leaving a many in debt as they work to emerge from the crisis.  Today, over half of restaurants and hotels project that revenue won’t return to “normal” until 2023 or later.  The situation is made worse by the fact that the industry now has 32,000 less workers than pre-pandemic levels.  This report and the data within helps drive our legislative engagement and communications strategy as an industry and is important information for our members and allies to understand and be conversant in.

Read the Economic Snapshot