H.R. 78 Summary

• Urges the Department of Business, Economic Development, and Tourism to establish a grant program for hotel employees or employee-owned entities to purchase hotels and convert them into employee-owned cooperatives

• Requires employees and entities to provide matching funds on a dollar-for-dollar basis to qualify for grants under the program

• Identifies the accommodation and food services sector as employing 113,417 people in Hawaii in 2020, with many hotels owned by multinational corporations without resident ownership

• Cites successful examples of employee-owned hotels including The Priory Hotel in Scotland, Quaintance-Weaver Restaurants and Hotels in North Carolina, and TPI Hospitality in Minnesota

• Directs transmission of a certified copy of the resolution to the Director of Business, Economic Development, and Tourism