HI HCR77

Department of Business, Economic Development, and Tourism is urged to establish a grant program for hotel employees or entities entirely owned by hotel employees to purchase hotels and convert them into employee-owned cooperatives.

Grant recipients must provide matching funds on a dollar-for-dollar basis to qualify for the program.

Resolution cites the accommodation and food services sector's 113,417 employees in 2020 and notes successful employee-owned hotel examples exist in Scotland, North Carolina, and Minnesota.

Program intended to prevent unemployment increases in the state by enabling hotel employees to purchase and operate hotels as cooperative businesses.

A certified copy of the resolution shall be transmitted to the Director of Business, Economic Development, and Tourism.