Close

Cart

Total $0.00

Checkout
Washington, D.C. - December 17, 2014 - The American Hotel & Lodging Association (AH&LA) issued the following statement after the Senate adjourned and failed to reauthorize the Terrorism Risk Insurance Act:

"We are extremely disappointed and shocked that Congress was not able to come to an agreement to extend TRIA, despite both chambers passing similar versions of the reauthorization measure with overwhelming bipartisan support. This completely avoidable setback will have serious ramifications on the economy, stunting further economic development and job growth. The expiration of TRIA in 15 days will lead to increased uncertainty and impact our entire industry, its employees and the communities in which we live and work. We urge Congress to cast aside politics and make TRIA a priority so that the hotel industry can continue its steady growth and create much-needed jobs," said Katherine Lugar, AH&LA President and CEO. 

First passed by Congress in 2002 in response to the terrorist attacks of September 11, 2001, TRIA was created to provide a federal backstop for terrorism insurance coverage.  The program was renewed in 2005 and again in 2007, but expires at the end of this year.  Although both the Senate and the House overwhelmingly passed bipartisan bills to reauthorize the program on a long-term basis, the two chambers were not able agree on a process by which to send a single version to the President.

About the American Hotel & Lodging Association (AH&LA)

Serving the hospitality industry for more than a century, the American Hotel & Lodging Association (AH&LA) is the sole national association representing all segments of the 1.8 million-employee U.S. lodging industry, including hotel owners, REITs, chains, franchisees, management companies, independent properties, state hotel associations, and industry suppliers. Headquartered in Washington, D.C., AH&LA provides focused advocacy, communications support, and educational resources for an industry generating $155.5 billion in annual sales from 4.9 million guestrooms.

Contact: Chandler Smith

(202) 289-3148

Related News

Hotel Industry Commits $75,000 Grant for LA Opportunity Youth Training

AHLA Reacts to New York City Passing Strong Short-Term Rental Ordinance

New Research Shows Consumers Spend $5.2 Billion Annually in Fraudulent and Misleading Hotel Booking Transactions

AHLA Names Rosanna Maietta President of American Hotel & Lodging Educational Foundation

Tax Day: Hoteliers Call for More Transparency and Oversight in Taxing Airbnb

Hotel Industry Partners With Pearson to Offer Debt-Free College Degrees to Employees

AHLA Responds to Airbnb Plus & Boutique Program Announcement

AHLA Praises U.S. House of Representatives for Vote to Strengthen ADA

AHLA's President and CEO, Katherine Lugar, Releases Statement on President Donald Trump's State of the Union

ALIS Names the 2018 Award Winners for Developments, Single Asset Transactions and M&A of the Year

AHLA’s Financial Management Committee Issues Guidance for the New Revenue Recognition Standards

AHLA President Lugar Highlights Hotel Industry Economic Impact on Nation's Cities at U.S. Conference of Mayors

AHLA Announces 2018 Officers & Board of Directors Slate

AHLA Promotes Brian Crawford to Vice President and Department Head of Governmental Affairs

AHLA Applauds Final Passage of Tax Reform Legislation

AHLA Releases Statement Following Historic Tax Reform Legislation

AHLA President and CEO Katherine Lugar's Statement on Senate Passage of Tax Reform Legislation

Hotel Innovators Educate Lawmakers on Capitol Hill, Urge Support for Stop Online Booking Scams Act

AHLA and the Better Business Bureau Team Up to Fight Online Hotel Booking Scams

AHLA Celebrates National Apprenticeship Week by Launching Program and Giving $50,000 Grant

All News »

Please login or register to post a comment.