The U.S. House of Representatives approved on Wednesday a $1.9 trillion economic stimulus package, and hoteliers eagerly await President Biden’s expected Friday signing of this next round of federal coronavirus relief.

The American Rescue Plan Act of 2021 includes direct payments of up to $1,400 to individuals, $300 a week in federal unemployment benefits until early September and $350 billion in funding for state and local governments, as well as $14 billion for vaccination distribution. It also includes $7.25 billion in new funding for the Paycheck Protection Program created by the CARES Act to support small businesses, and grants designed to help business hit hard by the pandemic.

Of particular interest to hoteliers are the PPP loans, which through the two previous coronavirus relief acts helped small businesses cover the costs of payroll and related benefits as well as mortgage interest, rent, utilities, and the cost of protecting workers from COVID-19, provided the businesses retain employees. The second wave of PPP funding offered more flexibility for hoteliers, but also came with its own set of frustrations.

Equally important to hoteliers is the support that the stimulus provides to ongoing vaccination efforts. Hoteliers are banking on the expectation that as more Americans are vaccinated against COVID-19, more will feel comfortable traveling for work and leisure again.

In a statement, American Hotel & Lodging Association President and CEO Chip Rogers said the new relief act is a vital step forward in containing and beating the pandemic.

“The bill will provide additional direct financial assistance to the millions of hotel employees who are unemployed or underemployed, at no fault of their own,” he said. “It also contains many necessary provisions AHLA has advocated for to help put the hotel industry back on a path to recovery. President Biden and Congress have recognized that small businesses, especially those in the leisure and hospitality sector, need more help to get through this difficult time.”

The new stimulus package lays the groundwork for a speedy recovery and provides hoteliers and their employees with necessary short-term economic assistance, said Cecil Staton, president and CEO of the Asian American Hotel Owners Association, in a statement.

“Hotels were among the first businesses to feel the impact of COVID-19,” he said. “For our industry to recover, we need people to start traveling again. The billions of dollars included in the [American Rescue Plan] for increased testing and a rapid expansion of vaccine distribution will go a long way in boosting consumer confidence about safely resuming pre-pandemic activities, like leisure and business travel.”

The additional PPP loans, Economic Injury Disaster Loan grants through the Small Business Administration and funding for destination marketing organizations are critical measures that help the hospitality industry now as it works toward recovery, he said.

The American Rescue Plan is what the country needs now, but recovery for the hotel industry is still far down the road, Staton said. AAHOA will continue to work with the Biden administration and lawmakers on a hotel-specific economic relief package to address some of the more nuanced financial challenges facing small business owners, he said.

The pandemic has wiped out 10 years of hotel job growth, Rogers said. The leisure and hospitality sector accounted for 39% of all jobs lost since the start of the pandemic, more than any other sector.

“Even with modest recovery, hotels will remain nearly 500,000 jobs below the industry’s pre-pandemic employment level,” he said. “Unfortunately, travel is not expected to return to pre-pandemic levels until at least 2023.”

Having passed the American Rescue Plan, Congress must turn to crafting targeted economic stimulus legislation that provides direct support for the hardest-hit industries and their employees, he said.

“After the most devastating year on record for the hotel industry, we will need further financial assistance to retain and rehire our associates, revive our local communities, and restart our economy,” he said.

In a separate statement, U.S. Travel Association President and CEO Roger Dow called for lawmakers to prioritize enhancements of the Paycheck Protection Program.

“The American Rescue Plan contains many good features, but there’s something crucial that Congress must accomplish to restore the millions of travel-dependent jobs lost to the pandemic: Extend the Paycheck Protection Program deadline through at least June, and allow another draw on those funds for the hardest-hit employers,” he said.

Leisure and hospitality account for nearly 40% of all U.S. unemployment, he said. The industry’s recovery is projected to take as long as five years without decisive federal action. The PPP has proven to be effective, but the government must maintain it to help businesses whose customers have not fully returned.

“The resources the ARP provides for travel and tourism are another good step, but we strongly urge Congress to take immediate action to extend the PPP deadline through June 30,” he said.