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Stock impact report

Affordable worker housing is latest tourist town business hurdle [Financial Post (Toronto, Ontario, Canada)]

ACCOR SA SPNS/ADR (ACCYY) 
Company Research Source: Financial Post
But after the COVID-19 pandemic struck and housing prices in vacation hotspots soared, the cod-and-calamari-slinging 49-year-old saw staffing as his No. 1obstacle, due in no small part to a shortage of affordable places for workers to rent. “It’s the affordability, but also the availability. There isn’t enough rental stock for people to choose from,” Feather said from the restaurant’s dining area, now undergoing an expansion. His latest kitchen hire couldn’t find a place in town and commutes by car — another hurdle when gas prices are soaring and regional public transit lags. Feather is relying increasingly on high school and college students for front of house — “they’re already living at home” — but those under 18 are barred from serving alcohol and limited to hosting, takeout or working the cash register. “It’s just so incredibly difficult,” he said. Businesses in tourist hotspots far from big cities are feeling the pinch of affordable housing, as smaller communities struggle Show less Read more
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