Hotel Industry Praises Senate for Passage of TRIA Reauthorization Bill
Thursday July 17th, 2014 - 3:01PM W
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WASHINGTON, DC—The American Hotel & Lodging Association (AH&LA) commends the Senate for today’s passage of the Terrorism Risk Insurance Program Reauthorization Act (S. 2244) on a vote of 93-4.
“The TRIA program has provided a valuable and important backstop for our industry for more than a decade, and today’s Senate passage of reauthorization legislation puts us one step closer to ensuring this protection remains in place for several more years,” stated Katherine Lugar, AH&LA president/CEO. “Continuation of TRIA is good for the economy, protects future development projects and provides an important measure of security for hoteliers that will allow them to continue growing and creating jobs. We thank the Senate for taking this important step, and particularly Senators Schumer, Kirk, Reed, Heller, Murphy, Warner, Johanns, Blunt, Menendez, Johnson and Crapo for introducing and championing this legislation. Our industry hopes that the version of TRIA reauthorization that ultimately reaches the President’s desk follows the Senate bill as closely as possible, and we urge the House of Representatives to move forward quickly to pass its own version of this legislation.”
Tags: TRIA • AH&LA • Senate • Hospitality •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.