On November 24, 2021, the federal government introduced Bill C-2, which included targeted support to tourism and hospitality businesses still facing significant pandemic-related challenges to recovery. As previously announced in October, if the bill is passed, financial support would be made available to tourism and hospitality businesses through the Tourism and Hospitality Recovery Program and the Hardest-Hit Business Recovery Program.
Both Tourism and Hospitality Recovery Program and Hardest-Hit Business Recovery Program will provide targeted aid to tourism and hospitality sectors through wage and rent subsidies. As announced in October:
The Tourism and Hospitality Recovery Program:
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Offers a subsidy rate of up to 75%
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Applies to organizations in a number of tourism and hospitality sectors, including (but not limited to): accommodations, food and beverage, travel agents, tour guides, museums, cinemas, charter bus services, amusement parks, ski hills, airports, industry associations. Full list of eligible businesses here
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Businesses must have experienced:
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an average monthly revenue reduction of at least 40% over the first 13 qualifying periods for the Canada Emergency Wage Subsidy (12-month revenue decline);
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AND a current-month revenue loss of at least 40% (the rules applicable under the previous wage and rent subsidy programs would continue to apply for the purposes of calculating the current-month revenue decline).
Hardest-Hit Business Recovery Program
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Subsidy rate of up to 50%
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Applies to businesses in all sectors
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Businesses must have experienced:
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an average monthly revenue reduction of at least 50% over the first 13 qualifying periods for the Canada Emergency Wage Subsidy (12-month revenue decline)
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AND a current-month revenue loss of at least 50%
For more information about these programs, see the initial program details here, the news release here, and the full list of eligible businesses for the Tourism and Hospitality Recovery Program here.