With declines of up to 90% in guest room revenues, a report from the Texas hotel industry said hotels in the state may be reaching a point from which they cannot recover.

The overall commercial mortgage-backed security (CMBS) delinquency rate reached 10.3% in June, up from 7.15% the previous month, according to industry data.

The American Hotel & Lodging Association (AHLA) issued a letter to U.S. House and Senate leaders asking lawmakers to provide help in several areas for the hotel industry.

COVID-19 and the mandated shutdown that came with it have caused state and local tax revenues from hotel operations to drop by nearly $17 billion this year, an Oxford Economics report found.

U.S. Treasury Secretary Steven Mnuchin has called on Congress to put $134 billion in leftover coronavirus financial aid into the hands of the most hard-hit entrepreneurs, such as hotel and restaurant owners.