The CEO of world's largest hotel group Marriott has said that coronavirus is worse than the Great Depression and World War II and has cut his salary to $0 as the hospitality industry continues to be devastated by the pandemic. This would mark the biggest rate of unemployment claims in US history, dwarfing the previous record of nearly 700,000 set in 1982. However, he asserted that at the very least, unemployment claims would top a million. These figures came as Connecticut residents filed ten times the usual number of unemployment claims between Friday and Monday, recording 30,000 claims, up from around 3,000 to 5,000. 'The hotel industry and the restaurant industry will go bankrupt first, Boeing is on the brink, Boeing will not survive without a government bailout,' Ackman told CNBC.

Source: Daily Mail March 20, 2020 15:20 UTC