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30 (217) Susana Barrios From:Theresa Bass Sent:Tuesday, June 13, 2023 12:48 PM To:Public Comment Subject:FW: \[EXTERNAL\] Item 30: Documents for the record of public comment Attachments:Oxford Economics - Impacts of Proposed Increase in Minimum Wage for Hotels and LAX - May 2023.pdf; TE-CHLA - LA ordinance impact analysis - 2023 March (1).pdf From: Samantha Marquez <samantha.marquez@aochla.com> Sent: Tuesday, June 13, 2023 10:41 AM To: Theresa Bass <TBass@anaheim.net> Cc: Jim Vanderpool <JVanderpool@anaheim.net> Subject: \[EXTERNAL\] Item 30: Documents for the record of public comment Warning: This email originated from outside the City of Anaheim. Do not click links or open attachments unless you recognize the sender and are expecting the message. Hi Theresa, I hope this email finds you well. Please find attached to this email two economic studies with respect to Item 30 on tonight’s agenda. I kindly request that these two documents be added to the public record for public comment. Thank you, Samantha L. Marquez Executive Director Anaheim/Orange County Hotel & Lodging Association p: (626) 373-3146 . e: samantha.marquez@aochla.com 1 CITY OF LOS ANGELES HOTEL WORKER PROTECTION ORDINANCE ECONOMIC IMPACT ANALYSIS W W W . T O U R I S M E C O N O M I C S . C O M Prepared for: California Hotel & Lodging Association March 14, 2023 2 Tourism Economics is an Oxford Economics company with a singular objective: combine an understanding of tourism dynamics with rigorous economics in order to answer the most important questions facing destinations, developers, and strategic planners. By combining quantitative methods with industry knowledge, Tourism economics designs custom market strategies, destination recovery plans, tourism forecasting models, tourism policy analysis and economic impact studies. With over four decades of experience of our principal consultants, it is our passion to work as partners with our clients to achieve a destination's full potential. About Tourism Economics Oxford Economics is one of the world's leading providers of economic analysis, forecasts and consulting advice. Founded in 1981 as a joint venture with Oxford University's business college, Oxford Economics enjoys a reputation for high quality , Quantitative analysis and evidence-based advice. For this, it draws on its own staff of more than 250 professional economists and analysts; a dedicated data analysis team; global modeling tools, and a range of partner institutions in Europe, the US and in the United Nations Project Link. Oxford economics has offices in London, Oxford, Dubai, Philadelphia and Belfast. For more information: info@tourismeconomics.com 3 The California Hotel & Lodging Association (CHLA) engaged Tourism Economics to analyze the economic impact of the Hotel Worker Protection Ordinance (HWPO) that took effect in August 2022 within the City of Los Angeles, CA. We developed an understanding of the HWPO and its impact on hotel operations and prepared an economic model to quantify its expected impacts. Key Observations •Overall, in 2025 as an example year, we estimate that with the HWPO, Los Angeles will experience: •6.8% higher hotel average daily rate (ADR) •5.0% decline in occupied hotel room nights •$603.3 million of lost direct economic activity, including $335.8 million less visitor spending and $267.5 million less hotel capital spending •These impacts are expected to result in broader losses to the Los Angeles economy. Specifically, we anticipate that the loss of visitor spending and loss of hotel capital spending will result in the: •loss of 5,856 jobs in other sectors of the economy, •including the loss of 1,542 direct hotel construction and renovation jobs. •Overall, we estimate a: •$51.5 million decrease in state and local tax revenues in 2025 as a result of HWPO, reflecting a $4.8 million EXECUTIVE SUMMARY increase in lodging taxes due to higher room rates but declines in other tax categories. •The HWPO contains several provisions. Of these, the most significant impact to hotel operations results from workload limitations for room attendants that restrict the amount of space they are permitted to clean each day at standard pay. Hotels have adjusted operations in response to these restrictions, such as by hiring additional staff or/or paying twice standard pay. •Overall, as a result of HWPO, hotels are experiencing an approximate doubling of housekeeping labor costs (room attendants and managers). •We quantified how we anticipate this cost increase will impact the Los Angeles hotel market over time, relative to an alternative scenario without the HWPO. We have used 2025 as a summary year, allowing several years for hotel operations and customer behavior to adapt to the change. •In our analysis, we anticipate that hotels will continue to respond to higher labor costs per occupied room by: (1) increasing ADR and fees, (2) reducing services and staff in other departments, (3) scaling back planned renovations. We also anticipate that the development of new hotels in the market will slow. •As travelers, including meetings and groups, respond to higher room rates and reduced services, we expect hotel demand will decline relative to the alternative scenario without the HWPO, resulting in less visitor spending in Los Angeles. 4 EXECUTIVE SUMMARY The accompanying figures illustrate impacts due to the HWPO relative to an alternative scenario without the ordinance. We have used 2025 as an example year. Total lost economic output (business sales) City of Los Angeles, compared to scenario without HWPO, in millions Source: Tourism Economics -$540 -$792 -$982 -$1,018 -$1,060 2023 2024 2025 2026 2027 Total lost jobs and wages in 2025 City of Los Angeles, compared to scenario without HWPO, $ in millions Source: Tourism Economics -2,477 -1,542 -1,067 -771 Tourism Construction Direct jobs Other jobs -$124 -$116 -$80 -$53 Tourism Construction Direct wages Other wages -2,312 -3,544 -$203 -$169 HWPO impact to tourism in 2025 City of Los Angeles, % compared to scenario without ordinance Source: STR, Tourism Economics 28% 6.8% -5.0% 1.4% -4.7% Increase in payroll costs ADR increase Demand loss Room revenue increase Visitor spending loss HWPO impact in 2025 City of Los Angeles, in millions Source: STR, Tourism Economics -$335.8 -$81.0 -$186.5 Visitor spending loss Renovation spending loss New development spending loss 5 On June 28, 2022, the Los Angeles City Council approved a new Hotel Worker Protection Ordinance (HWPO) that went into effect on August 12, 2022. The HWPO contains several provisions. Of these, the most significant impact to hotel operations results from workload limitations for room attendants. The restrictions include limits on the amount of guest room space that room attendants may clean in a day. These limits are reduced in certain cases, such as attendants assigned rooms to clean that are on several different floors. Hotels are responding to these restrictions in a variety of ways. In some cases, room attendants are cleaning more rooms than the limitation, and as stipulated in HWPO, hotels are paying staff double the standard rate for each day. The double rate of pay applies to every hour worked that day including hours worked before square footage limit has been reached. In other cases, hotels are hiring additional room attendants, while looking to reduce other staffing at the property. Some properties are taking rooms out of inventory temporarily due to lack of staffing. ORDINANCE SUMMARY The following are measures from the new Hotel Worker Protection Ordinance. 1)installation of panic buttons 2)on-call security for hotels with 60+ rooms or annual manager training with fewer than 60 rooms, 3)leave for employees who activate a panic button 4)documented attendance for annual staff training regarding maintenance and use of panic buttons 5)signage installation Daily Square Footage Limitations •Hotels with less than 45 rooms: Does not apply •Hotels with 45-60 rooms: 4,000 square feet •Hotels with 60+ rooms: 3,500 square feet Square Footage Reductions (500 square feet each) •Each special attention room or room with rollout bed assigned in excess of five rooms •Each additional building assigned •Each additional floor assigned in excess of two floors 6 The Citywide Hotel Worker Minimum Wage Ordinance was also amended. Previously, the elevated minimum wage and time off requirements for hotel workers only applied to workers in hotels with 150+ guest rooms. Hotels with 60+ rooms are now included under the same requirements, thus expanding the minimum wage requirement to cover an additional 17% of Los Angeles hotels. This is effectively a minimum wage raise from $16.04/hour to $18.86/hour for that group among additional time off requirements. The hotel worker minimum wage will adjust annually with the City of Los Angeles minimum wage. While 100% of hotels in the City of Los Angeles are affected by the HWPO measures related to panic buttons, 46% of hotels in Los Angeles (87% of all rooms) are now also affected by the square footage cleaning limitations. ORDINANCE SCOPE Supply share of Los Angeles hotels Percent of Los Angeles market share Hotels Rooms Hotels with less than 45 rooms 54%13% Hotels with between 45 and 59 rooms 9%4% Hotels with between 60 and 149 rooms 17%14% Hotels with 150+ rooms 20%69% Source: STR (February 2023) 7 The Hotel Association of Los Angeles fielded a survey of hotel operators in February 2023 to better understand operational impacts and general response to the HWPO. Key results are summarized as follows. Each percentage reflects the share of hotel operators: •71% report they are not considering a renovation this year; •50% report they have postponed maintenance or renovations that otherwise would have occurred; and, •75% report they have already reduced staff, services, or taken other cost containment steps; •68% report already raising room rates or adding a fee; •82% report already adding or considering adding an additional fee specifically for this ordinance. HOTEL OPERATOR SURVEY In summary, hotel operators have already been responding to the HWPO with multiple changes. Many of these changes include increasing rates or fees and/or decreasing services, acknowledging that one result will be fewer occupied rooms. IMPACT ANALYSIS 9 IMPACT ANALYSIS We prepared an analysis of impacts to the City of Los Angeles in a scenario with the HWPO as compared to an alternative scenario without HWPO. Approach As part of this analysis: •we reviewed the HWPO; •held discussions with four teams of senior hotel operators in the City of Los Angeles that have been making operating changes in response to HWPO and that have been preparing financial budgets for future periods; •reviewed written comments and survey responses provided by hotel operators; •obtained hotel performance measures from STR, including historical benchmark data on hotel payroll expenses per occupied room; and, •analyzed the scope of properties that will be affected by the HWPO room cleaning limitations. We understand that union properties may arrange a HWPO waiver in connection with a collective bargaining agreement. However, we assumed that over time, as existing collective bargaining agreements are renegotiated, operating cost structures at union properties will also be impacted by HWPO, for example through competition with non-union properties for staff. As a result, over time HWPO is expected to result in higher operating costs for effectively all hotels in the City of Los Angeles. Analysis overview Our analysis included four primary steps. We: 1.estimated hotel operating impacts of the HWPO; 2.estimated how occupied room nights and visitor spending would change in response to higher room rates and reduced services; 3.estimated how hotel renovation activity and new hotel construction would slow as a result of reduced operating cash flow; and, 4.quantified the economic impacts of reduced visitor spending and reduced hotel capital spending. 10 TOURISM IMPACT •Lastly, reduced spending on hotel renovations will make hotels in the City of Los Angeles less attractive to travelers over time. •With higher ADR, but lower demand, hotel revenue is estimated to increase by only $30.0 million. This will only cover part of the $110.3 million of increased payroll costs for hotels. •We quantified the lost business sales, jobs and tax revenues associated with this decrease in visitor spending. •Initially, hotels subject to the HWPO are experiencing an approximately 100% increase in housekeeping payroll costs per occupied room. This is occurring, for example, as hotels pay twice the standard rate to room attendants, as they hire additional staff, and as they allocate staff time to tracking room cleaning limitations. Hotels subject to HWPO account for 87% of hotel rooms in the market. Because not all hotels in the market are covered, and because we expect operations will adapt some over time, we have assumed the rooms department payroll cost increase per occupied room will stabilize at about 34.6% higher in 2025. •Higher payroll costs represent a significant cost increase for hotels. We estimate this additional cost at $14 per occupied room night. Hotels must find ways to either increase prices, or reduce other costs, or both, to help cover the impact to payroll. Overall, we estimate total payroll costs at City of Los Angeles hotels will increase by $110.3 million in 2025. The following describes key aspects of our analysis. All changes refer to changes in the current situation with HWPO relative to an alternative scenario without HWPO. In the discussion we have focused on 2025 as an example year, as it allows time for hotel operating changes and traveler behavior to adjust. Tourism impact •We estimate on average in the market that hotels will increase ADR by approximately $14.65 (6.8%) by 2025 due to HWPO (through ADR increases or through added fees). •As a result of higher ADR and reductions to service levels, renovations and construction, we expect a decrease of demand (occupied hotel room nights) of approximately 5.0%. •With a 5.0% decrease in demand, we estimate a 4.7% decrease in visitor spending, equivalent to $335.8 million less visitor spending in 2025. •Higher ADR will discourage some travelers from staying in the City of Los Angeles or will cause them to reduce their length of stay. For example, planners for some meetings and group events are anticipated to select other markets that offer more competitive pricing. Some travelers will select other destinations or choose to stay at hotels that are outside the City of Los Angeles. Other guests may choose to shorten their trip. •Reduced service levels as hotels seek to cut other costs, such as by reducing hours at restaurants, reducing staffing, and closing on- site amenities, will also impact traveler choices over time. 11 TOURISM IMPACT •We expect ADR in 2025 will increase by 6.8% above what ADR would be without the ordinance. •Demand will decline 5.0% due to the higher rates and reduced services. •Room revenue will increase by 1.4% in 2025. This additional revenue will address a small portion of the increase in payroll costs. •In total, over the five- year period of analysis, we expect a loss of $1.4 billion of visitor spending. HWPO impact to Los Angeles tourism $ in millions (except ADR increase and increase in payroll per occupied room) 2023 2024 2025 2026 2027 5 yr total ADR increase (%)7.1%6.9%6.8%6.6%6.4% ADR increase ($)$14.65 $14.65 $14.65 $14.65 $14.65 Demand loss (%)-2.2%-4.0%-5.0%-5.0%-5.0% Room revenue increase (%)4.8%2.7%1.4%1.3%1.1% Room revenue increase ($)$89.1 $53.2 $30.0 $28.1 $26.1 Increase in rooms payroll per occupied room (%)34.6%34.6%34.6%34.6%34.6% Increase in rooms payroll per occupied room ($)$14.00 $14.00 $14.00 $14.00 $14.00 Increase in payroll costs (%)32%29%28%28%28% Increase in payroll costs ($)$116.3 $112.1 $110.3 $113.7 $117.1 Visitor spending loss (%)-1.9%-3.7%-4.7%-4.7%-4.6% Visitor spending loss ($)-$119.6 -$250.2 -$335.8 -$353.2 -$370.4 -$1,429.3 Source: STR, Tourism Economics 12 HOTEL CAPITAL SPENDING IMPACT •With substantially higher payroll costs and reduced operating cash flows, we expect hotel owners will look for ways to delay or scale back planned renovations. •Also, in a market with higher operating costs and lower returns, we expect fewer new hotels will be developed. •Overall, we estimate that through a combination of reduced renovations and new development, hotel capital spending in Los Angeles over the five- year period of analysis will be reduced by $1.27 billion. HWPO impact to Los Angeles hotel capital spending $ in millions 2023 2024 2025 2026 2027 5 yr total Renovation spending loss (%)-65.0%-59.8%-57.2%-54.4%-54.4% Renovation spending loss ($)-$82.4 -$79.0 -$81.0 -$81.5 -$86.2 New development spending loss ($)-$132.7 -$158.1 -$186.5 -$190.2 -$194.2 Hotel capital spending loss ($)-$215.1 -$237.1 -$267.5 -$271.7 -$280.5 -$1,271.8 Source: STR, Tourism Economics 13 VISITOR SPENDING ECONOMIC IMPACT •Lost visitor spending has important impacts on the local economy. We estimate that a loss of $335.8 million in visitor spending in 2025 will result in total lost business sales of $558.1 million. •This is expected to result in 3,544 total job losses in the City of Los Angeles relative to an alternative scenario without HWPO. These include jobs at businesses patronized by visitors, such as restaurants, as well as jobs at other businesses in the supply chain, such as specialized maintenance services, advertising and professional services. •State and local taxes are expected to be $30.0 million lower because of HWPO in 2025, despite a $4.8 million increase in lodging taxes resulting from higher ADR levels. Visitor spending economic impact in millions (except jobs) Total 2023 2024 2025 2026 2027 Output -$198.8 -$415.9 -$558.1 -$587.0 -$615.6 GDP -$116.3 -$243.3 -$326.5 -$343.4 -$360.2 Wages and salaries -$72.4 -$151.4 -$203.2 -$213.7 -$224.1 Jobs -1,315 -2,695 -3,544 -3,653 -3,755 Taxes -$13.5 -$49.3 -$72.8 -$77.1 -$81.4 Federal -$15.2 -$31.9 -$42.8 -$45.0 -$47.2 State and local $1.8 -$17.5 -$30.0 -$32.1 -$34.2 Taxes on lodging $14.2 $8.5 $4.8 $4.5 $4.1 Direct Output -$119.6 -$250.2 -$335.8 -$353.2 -$370.4 GDP -$68.2 -$142.6 -$191.3 -$201.2 -$211.0 Wages and salaries -$44.0 -$92.1 -$123.5 -$129.9 -$136.3 Jobs -919 -1,883 -2,477 -2,553 -2,624 Taxes -$2.9 -$27.2 -$43.1 -$45.9 -$48.7 Federal -$9.3 -$19.4 -$26.0 -$27.4 -$28.7 State and local $6.4 -$7.9 -$17.1 -$18.6 -$20.0 Taxes on lodging $14.2 $8.5 $4.8 $4.5 $4.1 Source: Tourism Economics 14 CONSTRUCTION ECONOMIC IMPACT •An expected loss in 2025 direct hotel capital spending of $267.5 million will negatively affect economic output by roughly $424.1 million in 2025. •This corresponds to the loss of approximately 1,542 direct hotel construction and renovation jobs. Construction economic impact in millions (except jobs) Total 2023 2024 2025 2026 2027 Output -$341.0 -$375.9 -$424.1 -$430.7 -$444.6 GDP -$180.0 -$198.4 -$223.9 -$227.3 -$234.7 Wages and salaries -$135.6 -$149.4 -$168.6 -$171.2 -$176.8 Jobs -1,936 -2,091 -2,312 -2,301 -2,328 Taxes -$43.3 -$47.7 -$53.9 -$54.7 -$56.5 Federal -$26.1 -$28.7 -$32.4 -$32.9 -$34.0 State and local -$17.2 -$19.0 -$21.4 -$21.8 -$22.5 Taxes on lodging $0.0 $0.0 $0.0 $0.0 $0.0 Direct Output -$215.1 -$237.1 -$267.5 -$271.7 -$280.5 GDP -$103.9 -$114.5 -$129.2 -$131.2 -$135.5 Wages and salaries -$93.1 -$102.7 -$115.8 -$117.6 -$121.4 Jobs -1,291 -1,394 -1,542 -1,534 -1,552 Taxes -$25.7 -$28.3 -$31.9 -$32.4 -$33.5 Federal -$17.0 -$18.7 -$21.1 -$21.4 -$22.1 State and local -$8.7 -$9.6 -$10.8 -$11.0 -$11.4 Taxes on lodging $0.0 $0.0 $0.0 $0.0 $0.0 Source: Tourism Economics 15 ECONOMIC IMPACT Total economic impact is the summation of visitor spending and construction impacts to the Los Angeles economy. •The HWPO will negatively impact total economic output by $982.2 million in 2025 (direct impact $603.3 million). •GDP will be negatively impacted by $550.4 million in 2025 (direct impact of $320.5 million). Total economic impact in millions (except jobs) Total 2023 2024 2025 2026 2027 Output -$539.9 -$791.8 -$982.2 -$1,017.7 -$1,060.3 GDP -$296.3 -$441.7 -$550.4 -$570.8 -$594.9 Wages and salaries -$208.0 -$300.9 -$371.8 -$385.0 -$400.9 Jobs -3,251 -4,786 -5,856 -5,955 -6,083 Taxes -$56.8 -$97.1 -$126.6 -$131.8 -$137.9 Federal -$41.3 -$60.6 -$75.2 -$77.9 -$81.2 State and local -$15.5 -$36.5 -$51.5 -$53.9 -$56.7 Taxes on lodging $14.2 $8.5 $4.8 $4.5 $4.1 Direct Output -$334.7 -$487.3 -$603.3 -$624.9 -$650.9 GDP -$172.1 -$257.1 -$320.5 -$332.5 -$346.5 Wages and salaries -$137.2 -$194.7 -$239.4 -$247.6 -$257.7 Jobs -2,209 -3,277 -4,018 -4,087 -4,176 Taxes -$28.6 -$55.5 -$75.0 -$78.3 -$82.1 Federal -$26.2 -$38.1 -$47.1 -$48.8 -$50.8 State and local -$2.3 -$17.5 -$27.9 -$29.5 -$31.3 Taxes on lodging $14.2 $8.5 $4.8 $4.5 $4.1 Source: Tourism Economics 1 Economic Impact of City Council Motion (April 12, 2023) to Amend LWO and LA HWMO City of Los Angeles, CA May 2023 2 Key Findings Economic Impact Analysis April 12 Motion Impact to Hotel Operations Impact to Airport Operations Net Impact to Wages and Benefits Minimum Wage Tipping Point Additional Economic Impact Tables 1 2 3 4 5 6 7 8 TABLE OF CONTENTS Key Findings1 4 Key Findings -$25/Hour Minimum Wage Oxford Economics prepared a comprehensive analysis of the expected economic impact of an April 12, 2023 motion by Los Angeles City Council (April 12 Motion). Annual Run-Rate of Losses $846MM Decrease in Visitor Spending $138MM Lost State and Local Tax Revenue, Including $45MM of Lost Local Tax Revenue $321MM Lost Construction Spending $1.9B Lost Business Sales at Los Angeles Businesses 12,187 Lost Jobs, Including 1,927 Hotel Construction Jobs The April 12 Motion would cause a reduction of economic activity in the City of Los Angeles. With a proposed minimum wage of $25 an hour, less visitor spending and less construction spending would result in a loss of $1.9 billion of business sales annually, resulting in 12,187 lost jobs in the broader City of Los Angeles economy, and $138 million of lost state and local tax revenue. This includes losses such as fewer construction jobs, fewer restaurant, retail and arts and entertainment jobs, as well as fewer supply chain jobs, such as maintenance roles. Note: Estimates measure total impact of lost visitor spending and hotel construction with an increase of the minimum wage for hotel workers and airport workers to $25 an hour, expanded health care for hotel and airport workers, and the Hotel Worker Protection Ordin ance, relative to a baseline scenario (April 12 Motion ($25/hr) relative to LWO). Source: Oxford Economics 5 Key Findings -$30/Hour Minimum Wage Annual Run-Rate of Losses $1.1B Decrease in Visitor Spending $169MM Lost State and Local Tax Revenue, Including $55MM of Lost Local Tax Revenue $342MM Lost Construction Spending $2.3B Lost Business Sales at Los Angeles Businesses 14,870 Lost Jobs, Including 2,053 Hotel Construction Jobs With a proposed minimum wage of $30 an hour, less visitor spending and less construction spending would result in a loss of $2.3 billion of business sales annually, resulting in 14,870 lost jobs in the broader City of Los Angeles economy, and $169 million of lost state and local tax revenue. This includes losses such as fewer construction jobs, fewer restaurant, retail and arts and entertainment jobs, as well as fewer supply chain jobs, such as maintenance roles. Note: Estimates measure total impact of lost visitor spending and hotel construction with an increase of the minimum wage for hotel workers and airport workers to $30 an hour, expanded health care for hotel and airport workers, and the Hotel Worker Protection Ordin ance, relative to a baseline scenario (April 12 Motion ($30/hr) relative to LWO). Source: Oxford Economics 6 Key Findings -$30/Hour Minimum Wage + Impacts of Proposed Responsible Hotel Ordinance Annual Run-Rate of Losses $2.4B Decrease in Visitor Spending $400MM Lost State and Local Tax Revenue, Including $168MM of Lost Local Tax Revenue $421MM Lost Construction Spending $4.7B Lost Business Sales at Los Angeles Businesses 30,141 Lost Jobs, Including 2,526 Hotel Construction Jobs With a proposed minimum wage of $30 an hour and passage of the proposed Responsible Hotel Ordinance, less visitor spending and less construction spending would result in a loss of $4.7 billion of business sales annually, resulting in 30,141 lost jobs in the broader City of Los Angeles economy, and $400 million of lost state and local tax revenue. This includes losses such as fewer construction jobs, fewer restaurant, retail and arts and entertainment jobs, as well as fewer supply chain jobs, such as maintenance roles. Note: Estimates measure total impact of lost visitor spending and hotel construction with an increase of the minimum wage for hotel workers and airport workers to $30 an hour, expanded health care for hotel and airport workers, and the Hotel Worker Protection Ordin ance, and passage of the proposed Responsible Hotel Ordinance relative to a baseline scenario (April 12 Motion ($30/hr) and RHO relative to LWO). Source: Oxford Economics 7 Key Findings Workers across a range of sectors in Los Angeles will realize lost wages as a result of the April 12 Motion. The losses range from $714 million annually to $1.7 billion across the three April 12 Motion scenarios. Negatively impacted workers include (not limited to): •Construction •Restaurants •Retail •Transportation •Maintenance •Arts and recreation With reductions in visitor spending and hotel construction, state and local tax revenue would be reduced between $138 million and $400 million annually. Lost tax revenue must be made up by higher tax rates on businesses and households, or reduced government services. Note: Estimates measure total impact of lost visitor spending and hotel construction relative to LWO. Source: Oxford Economics Impact of City Council April 12 Motion Annual Run-Rate of Losses Monetary amounts in millions, City of Los Angeles LWO and HWPO April 12 Motion ($25/hr) April 12 Motion ($30/hr) April 12 Motion ($30/hr) and RHO Lost business sales ($914)($1,915)($2,326)($4,653) Lost visitor spending ($293)($846)($1,073)($2,398) Lost construction spending ($269)($321)($342)($421) Lost wages ($347)($714)($865)($1,716) Lost jobs (5,643)(12,187)(14,870)(30,141) Lost state and local tax revenue ($55)($138)($169)($400) Lost state tax revenue ($43)($94)($114)($232) Lost local tax revenue ($12)($45)($55)($168) 8 Key Findings Summary of scenario assumptions: •LWO: Living Wage Ordinance (LWO), this represents the baseline without HWPO and without April 12 Motion •LWO and HWPO: LWO, plus Hotel Worker Protection Ordinance (HWPO) •April 12 Motion ($25/hr): LWO, HWPO, plus $25/hr minimum wage and expanded health care for hotel and airport employees •April 12 Motion ($30/hr): Same as April 12 Motion ($25/hr), but showing impact of $30/hr minimum wage •April 12 Motion ($30/hr) and RHO: Same as April 12 Motion ($30/hr) scenario plus the Responsible Hotel Ordinance (RHO) Economic Impact Analysis2 10 The combined hotel and airport economic impact shows the result of: •Hotel: Lost visitor spending and lost hotel construction (renovation and new construction) •Airport: Lost visitor spending associated with airline/service provider labor cost increases In this analysis, these impacts are additive. The hotel and airport impacts are the result of higher wage and health care costs. The economic impact is quantified in terms of direct effects, and total effects. •Direct effects refer to the first-round impacts, consisting of the reduction in visitor spending and hotel construction spending. •Total effects refer to the direct effects, plus the downstream or multiplier effects that happen in the local economy as a result of the direct effect reduction. For example, this includes supply chain effects as restaurants purchase fewer inputs from wholesalers, and as employees supported by visitor spending have less wages and salaries to spend at local businesses. Economic Impact City of Los Angeles, CA -Direct and Total Impacts Combined economic impact: hotel and airport (lost visitor spending and hotel construction) in millions (except jobs) Total Output -$913.7 -$1,915.1 -$2,325.5 -$4,652.8 GDP -$510.2 -$1,091.3 -$1,329.5 -$2,683.9 Wages and salaries -$347.0 -$714.3 -$864.9 -$1,716.3 Jobs -5,643 -12,187 -14,870 -30,141 Taxes -$125.2 -$285.0 -$347.0 -$756.3 Federal -$69.9 -$146.7 -$178.1 -$356.4 State and local -$55.3 -$138.4 -$168.9 -$399.9 State -$43.1 -$93.6 -$114.3 -$232.4 Local -$12.2 -$44.8 -$54.5 -$167.5 Taxes on lodging $4.3 -$1.8 -$3.6 -$73.0 Property taxes -$7.7 -$23.3 -$26.7 -$44.7 Direct Output -$562.2 -$1,167.0 -$1,415.0 -$2,818.8 GDP -$297.0 -$637.0 -$776.5 -$1,569.4 Wages and salaries -$224.3 -$450.3 -$542.8 -$1,064.4 Jobs -3,865 -8,423 -10,292 -20,941 Taxes -$77.2 -$184.0 -$224.2 -$510.0 Federal -$43.9 -$90.8 -$110.1 -$218.9 State and local -$33.3 -$93.1 -$114.1 -$291.1 State -$25.1 -$56.4 -$69.2 -$142.6 Local -$8.2 -$36.8 -$44.9 -$148.5 Taxes on lodging $4.3 -$1.8 -$3.6 -$73.0 Property taxes -$7.7 -$23.3 -$26.7 -$44.7 Source: Oxford Economics LWO LWO and HWPO April 12 Motion ($25/hr) April 12 Motion ($30/hr) April 12 Motion ($30/hr) and RHO 11 RETAIL ENTERTAINMENT/REC FOOD & BEVERAGE LOCAL TRANSPORTATION LODGING AIR TRANSPORTATION Economic Impact Approach Our analysis of the economic impact of the April 12 Motion in the City of Los Angeles begins with actual spending by visitors but also considers the downstream effects of this injection of spending into the local economy. To determine the total economic impact in Los Angeles, we input visitor spending into a model created in IMPLAN. The model calculates three distinct types of impact: direct, indirect, and induced. The impacts on business sales, jobs, wages, and taxes are calculated for all three levels of impact. 1.Direct Impacts: Visitors create direct economic value within a discreet group of sectors (e.g., recreation, transportation). This supports a relative proportion of jobs, wages, taxes, and GDP within each sector. 2.Indirect Impacts: Each directly affected sector also purchases goods and services as inputs (e.g., food wholesalers, utilities) into production. These impacts are called indirect impacts. 3.Induced Impacts: Lastly, the induced impact is generated when employees whose wages are generated either directly or indirectly by visitors spend those wages in the local economy. IMPLAN is particularly effective because it calculates these three levels of impact –direct, indirect, and induced –for a broad set of indicators. These include the following: ▪Spending ▪Wages ▪Employment ▪Federal Taxes ▪State Taxes ▪Local Taxes How visitor spending generates employment and income DIRECT IMPACTS Tourism contribution measured by visitor spending TOTAL IMPACTS Direct, indirect, and induced impacts SALES GDP JOBS INCOME TAXES >> SUPPLY CHAIN EFFECTS B2B GOODS & SERVICES PURCHASED INCOME EFFECT HOUSEHOLD CONSUMPTION INDIRECT IMPACTS Purchases of inputs from suppliers Suppliers’ own supply chains INDUCED IMPACTS Consumer spending out of employees’ wages: 12 •considered previous research on visitor spending and visitor behavior in response to price changes; •gathered data on airport passenger activity at LAX; and, •prepared a customized IMPLAN input-output model to quantify changes in visitor spending and hotel construction. This model incorporates industry data on employment, wages, and sales from the U.S. Census, the Bureau of Economic Analysis, and the Bureau of Labor Statistics. In preparing our estimates of impacts in the various scenarios, we focused on annualized impacts relative to the baseline scenario. These are estimates of impacts that may take several years to reach stabilization, allowing time for operators to institute changes and for visitor behavior to respond. This research is based on data we gathered, our discussions with local hotel operators, and airline / service provider operators at Los Angeles International Airport, our understanding of the hotel and airline sectors, and our customized economic impact models. As part of our research, we: •obtained hotel operating statistics from STR/Costar, the leading provider of hotel statistics; •researched minimum wage research by academic researchers and think tank organizations; •prepared economic models to help quantify changes in hotel and airport operations; •conducted telephone interviews with multiple hotel operators, a major airline, and a major airline service provider to gain an understanding of how operators would respond to wage increases, and some of the factors involved; •considered previous research we have done on the HWPO for the California Lodging Association; Methods and Data Sources April 12 Motion3 14 On April 12, 2023, the Los Angeles City Council moved for a new draft of amendments (April 12 Motion) to the Living Wage Ordinance (LWO) and the Hotel Worker Minimum Wage Ordinance (LA HWMO). April 12 Motion The following provisions would apply directly to the LWO and HWPO specifically regarding airport and hotel workers. •Raise the hourly minimum wage to $25 in 2023, and by $1 every year thereafter, to reach $30 an hour by 2028. This is a 39% increase to airport workers under the LWO and a 33% increase for hotel workers under the HWPO. •Adjust the health care credit to meet the average cost of healthcare coverage, add minimum health benefit requirements including family coverage, and require transparency around health care payments. April 12 Motion Los Angeles City Council Note: In the hotel graph, the dark blue line follows inflation growth since 2015, which is the same as the grey inflation line in the airport graph. Living Wage Minimum for Airport Employees Los Angeles Source: City of Los Angeles, Oxford Economics Hotel Employee Minimum Wage Los Angeles Source: City of Los Angeles, Oxford Economics $18.04 $25 $26 $27 $28 $29 $30 2015 2016 2018 2020 2022 2024 2026 2028 With motion Without motion Following inflation growth since 2015 39% $18.86 $25 $26 $27 $28 $29 $30 2015 2016 2018 2020 2022 2024 2026 2028 33% With motion Without motion following inflation growth since 2015 15 Ordinance Summary •The Living Wage Ordinance (LWO) •The LWO currently requires airport employers to pay workers $18.04 an hour at a minimum, which is above the city minimum wage at $16.04 per hour. •The LWO currently requires airport employers to pay workers an additional health wage minimum of $5.77 per hour if they don’t offer health insurance. •The Hotel Worker Protection Ordinance (HWPO) •The HWPO currently requires a minimum of $18.86 per hour for hotel workers (hotels with 60 rooms or more). •Amended the previous minimum wage scope to hotels with 60 rooms or more (previously 150+ rooms) which expanded to an additional 17% of Los Angeles hotels. •If a room attendant cleans more than 3,500 square feet in a day (60 room hotel or more) their pay rate doubles for the whole day. •The Responsible Hotel Ordinance –Was not passed by city council but is on the 2024 voting ballot. •Voucher program would allow the otherwise unhoused to book vacant rooms. •New hotel development that demolishes or converts existing housing requires projects to include new affordable housing on a one-to-one basis. •Unprecedented annual permitting process via the appointed Police Commission. Impact to Hotel Operations4 17 Ordinance & Hotel Summary •The Hotel Worker Protection Ordinance (HWPO) •The HWPO contains several provisions. Of these, the most significant impact to hotel operations results from workload limitations for room attendants that restrict the amount of space they are permitted to clean each day at standard pay. •Overall, as a result of HWPO, hotels are experiencing an approximate doubling of housekeeping labor costs (room attendants and managers). •April 12 Motion •The motion stipulates an increase in the minimum wage for hotel workers from $18.86 to $25 per hour. 18 Impact to hotel operations •Housekeeping •Hotels have very limited ability to respond to increased housekeeping costs through cost savings measures within housekeeping. As a result, hotels must either attempt to pass on cost increases to customers or find other operational changes. •Food and beverage •Food and beverage operations such as restaurants and room service have very low, if any, profitability for hotels. With HWPO and the April 12 Motion, hotels are expected to reduce hours, close outlets, eliminate room service and reduce positions. •Hotels will also reduce menu selections and raise prices. For example, one operator will consider closing the restaurant and offering a bar menu with five items, including a $45 hamburger. •Banquet and catering are important to hotels’ ability to attract group business, such as business events. Higher wage costs are expected to make Los Angeles hotels some of the most expensive places to hold a business event. Many business events have a choice of destinations and will shift business to other markets. •The April 12 Motion does not have an exemption or lower rate for tipped employees like many union hotels have in their collective bargaining agreements. Tipped employees will make more than other hotel employees, resulting in stark differences between positions. •Overall impacts to operations •Payroll costs are already the highest operating cost of hotels . For example, total payroll costs per occupied room at a custom set of hotels considered in this analysis reached $120, representing 56% of total operating expenses per occupied room of $215 (expenses before gross operating profit). •An increased minimum wage affects not only employees currently earning at or near the minimum wage, it also requires increases in other positions to help maintain premiums for positions with greater responsibility. For example, the wage for a lead role with a $3 to $5 premium, must also be increased. This increases the overall cost of minimum wage increases. •Analysis assumes health care expansion equivalent to a 30% increase in payroll costs, on average. •RHO analysis assumes a large city program with prevalent use of housing stay vouchers across a large range of hotel properties with little ability for hotels to manage negative impact on perceptions of potential travelers, particularly leisure and group. •In response to higher costs, we anticipate hotels will: •Reduce staff hours and positions by reducing F&B and other hotel services and reducing non-essential maintenance and upkeep. •Reduce funding and devotion of staff time to community involvement. •Increase room rates, charge additional fees, raise menu and catering pricing.Experience a decline in demand from guests, resulting in fewer occupied guest rooms (particularly leisure and group). 19 Impact to hotel operations •Impacts to renovations •Hotels will have significantly reduced funds for renovations, and hotel owners will have reduced interest in investing in the upkeep of Los Angeles hotels and valuation decline due to increased costs. •Examples from hotel operators include plans to delay renovations and plans to cancel projects for expanding new space that would have supported new jobs (e.g., adding a bar in unused space). •Impacts to new construction •New construction of hotels will slow significantly. The profitability of the market will be substantially reduced, making it difficult to justify new investment. •Also, the market gains a reputation for unpredictable negative policies, further discouraging new investment. •Reduced new construction means a loss of construction activity as well as a loss of the jobs and tax revenue supported by additional visitors. 20 Hotel Performance Is Still Below 2019 Levels Hotel Demand, Real ADR, Real Room Revenue, and Occupancy since 2015 Los Angeles hotels are still operating below pre-pandemic levels. •Hotel demand (occupied room nights) in 2022 was down 10% from 2019 levels. •Real hotel ADR in 2022 was down 5% from 2019 levels. •Real room revenue in 2022 was down 15% from 2019 levels. •Hotel occupancy in 2022 was down 12% from 2019 levels. Real dollar values are adjusted for inflation based on CPI and shown in 2022 dollars. Hotel Demand Los Angeles, CA; in millions Source: STR, Oxford Economics 9.23 9.25 9.36 9.79 9.99 5.12 7.23 8.95 2015 2016 2017 2018 2019 2020 2021 2022 -10% Hotel ADR, Real Los Angeles, CA Source: STR, Oxford Economics $204 $219 $219 $219 $212 $163 $174 $201 2015 2016 2017 2018 2019 2020 2021 2022 -5% Room Revenue, Real Los Angeles, CA; in billions Source: STR, Oxford Economics $1.89 $2.03 $2.05 $2.14 $2.12 $0.84 $1.26 $1.80 2015 2016 2017 2018 2019 2020 2021 2022 -15% Hotel Occupancy Los Angeles, CA Source: STR, Oxford Economics 80%81%79%80%81% 45% 61% 71% 2015 2016 2017 2018 2019 2020 2021 2022 -12% 21 Historical Rooms Payroll Increase City of Los Angeles, CA In additional to demand and ADR that is below pre-pandemic levels, hotels have experienced strong increases in payroll costs. Rooms department payroll, which includes housekeeping, as well as staff such as front desk, guest relations, and reservations, has increased to $55.47 per occupied room during the most seven-month period since enactment of the HWPO in August 2022. This represents a 92% increase relative to the six-month period ending September 2021. Part of this increase reflects steps by hotels to restore staffing levels post-pandemic, but it also reflects the impacts of tight labor markets and the HWPO. Total payroll per occupied room increased to almost $120 in the seven-month period ending March 2023. This includes all hotel staff. Rooms Payroll Per Occupied Room Comparison City of Los Angeles, CA; Selected Non-Union Hotels Source: STR; Oxford Economics $55.47 $41.32 $35.93 $28.94 Sep-22Apr-22Oct-21Apr-21 totototo Mar-23Aug-22Mar-22Sep-21 34% 15% 24% 92% Total Payroll Per Occupied Room Comparison City of Los Angeles, CA; Selected Non-Union Hotels Source: STR; Oxford Economics $119.82 $91.74 $82.24 $63.17 Sep-22Apr-22Oct-21Apr-21 totototo Mar-23Aug-22Mar-22Sep-21 31% 12% 30% 90% 22 Los Angeles is estimated to lose $293 million of visitor spending annually from the already enacted HWPO. With a $25 minimum wage and increased health care, this loss increases to $750 million per year. With the increased minimum wage in the April 12 Motion ($25/hr) scenario, we expect hotels will realize an increase to payroll costs of $339.0 million, even after reducing hours and staffing. Hotels will be forced to raise ADR, causing a -15% loss in demand relative to the LWO only, and only generating an additional $21.5 million of room revenue, contributing to reduced profits/increased losses. Decreased demand (occupied rooms) will result in a loss of $750 million of visitor spending on an annual basis. Ordinance Scenarios: Hotel Operations City of Los Angeles, CA Ordinance scenarios Relative to LWO; in millions (except ADR increase) ADR increase (%)6.8%19.0%22.5%20.3% ADR increase ($)$14.00 $39.11 $46.32 $41.79 Demand loss (%)-5.0%-15.0%-17.2%-35.1% Demand loss (room nights)-0.45 -1.36 -1.56 -3.19 Room revenue increase (%)1.5%1.2%1.4%-21.9% Room revenue increase ($)$27.3 $21.5 $26.7 -$410.1 Increase in housekeeping payroll (%)82.96%160.8%189.4%122.1% Increase in housekeeping payroll ($)$114.0 $220.9 $260.3 $167.8 Increase in total payroll (%)13.8%46.3%57.6%21.7% Increase in total payroll ($)$101.2 $339.0 $421.1 $158.5 Visitor spending loss (%)-4.6%-11.9%-14.8%-35.7% Visitor spending loss ($)-$293.1 -$750.1 -$932.6 -$2,257.6 Source: STR, Oxford Economics LWO LWO and HWPO April 12 Motion ($25/hr) April 12 Motion ($30/hr) April 12 Motion ($30/hr) and RHO 23 Los Angeles is estimated to lose $269 million in hotel capital spending annually from the already enacted HWPO. With a $25 minimum wage and increased health care, this loss increases to $321 million per year. Hotels have already started delaying new renovations after the HWPO became effective in August 2022. In the April 12 Motion ($25/hr) scenario we expect renovation spending to decrease $90.2 relative to the LWO. We expect the April 12 Motion ($25/hr) scenario to reduce development spending by $230.9 million annually relative to the LWO. This results in a combined hotel capital spending (hotel construction) loss of $321.2 million relative to the LWO. Ordinance Scenarios: Hotel Capital Spending City of Los Angeles, CA Hotel Capital Spending Relative to LWO; $ in millions Renovation spending loss ($)-$82.5 -$90.2 -$93.5 -$101.2 Renovation spending loss (%)-75%-82%-85%-92% New development spending loss ($)-$186.52 -$230.94 -$248.70 -$319.76 Hotel capital spending loss ($)-$269.05 -$321.16 -$342.23 -$420.98 Source: STR, Oxford Economics April 12 Motion ($30/hr) and RHO LWO LWO and HWPO April 12 Motion ($25/hr) April 12 Motion ($30/hr) Impact to Airport Operations5 25 Ordinance & Airport Summary •April 12 Motion •The motion stipulates an increase in the minimum wage for airport workers from $18.06 to $25 per hour. •The motion also includes adjustments to the health care credit to meet the average cost of healthcare coverage, add minimum health benefit requirements including family coverage, and require transparency around health care payments. •Living Wage Ordinance (LWO) -Airport Employees: •There are multiple categories of stakeholders affected by the ordinance at LAX. •Los Angeles World Airports (LAWA): Operating airport •Airlines: Operating flights •Service providers: Providing services to airlines, such as baggage handling, cleaning planes, wheelchair service •Concessionaires: operating airport concessions •Our analysis focuses on: •Airlines and service providers combined •We did not include LAWA staff costs in the analysis as we do not yet have clear understanding of the potential impact of the Motion. •LAWA has a budgeted FY2023 headcount of 3,584 full and part-time positions, with annual personnel costs of $497.5 million. Of these, approximately 2,000 are in operations and maintenance, or public safety and security. 26 Ordinance Scenarios: Airline/Service Providers •Airline/service providers •Airlines rely on direct airline staff and staff of service providers to operate at LAX. •Both the airlines and the service providers have experienced the impact of previous cost increases and tight labor market conditions and have worked extensively to find efficiencies and limit cost increases. As a result, there is very little flexibility to absorb further cost increases without passing the full cost on to passengers. •With previous labor cost increases, airlines and service providers have looked for ways to reduce the staff positions assigned to each flight. For example, to reduce costs, an airline and service provider may decide to eliminate 16 labor hours associated with the process to turn a flight (deplane passengers, ready plan for departure, enplane passengers). This would be accomplished by cutting four positions with four hours each. •Eventually there is a limit to this type of cost management, for example, as further reductions place a greater burden on remaining staff, and result in planes that are less clean. •In scenarios with the April 12 Motion, we expect airlines and service providers will attempt to pass on a large portion of cost increase to passengers and will make further reductions in staffing and service levels. 27 Impact to Airline/Service Providers In the April 12 Motion ($25/hr) scenario, we expect 1.3 million fewer passengers than the LWO scenario. With the increased minimum wage in the April 12 Motion ($25/hr) scenario, and the shift to expanded health care, we expect a $10.04 in labor costs per enplaned passenger for airline and service providers combined. This is expected to result in the loss of 1.3 million passengers relative to the LWO. The increase in labor costs represents an increase of 34.8% relative to the LWO, representing $342.8 million of additional costs. We anticipate the decline in passenger volume and staff reductions per flight will result airline and service provider job losses that will offset a part of the labor cost increase. Airline and service provider labor costs Wages and health care Estimated incremental labor costs per enplaned passenger $10.04 $14.70 $14.70 Lost passengers (enplanements and deplanements)(1,342,732) (1,964,526) (1,964,526) Airline and service provider aggregate costs Baseline cost without minimum wage increase and health care expansion (in millions)$984.0 $984.0 $984.0 Incremental cost with minimum wage increase and health care expansion (in millions)342.8 501.5 501.5 Total cost with minimum wage increase and healthcare expansion (in millions)$1,326.8 $1,485.6 $1,485.6 Percentage difference relative to baseline 34.8%51.0%51.0% Potential cost reduction due to reduction in passenger volume (in millions)($26.1)($42.8)($42.8) Potential cost reduction due to staffing reductions (in millions)(66.3) (89.1) (89.1) Net increase to airline and service provider labor costs relative to baseline (in millions)$1,234.4 $1,353.7 $1,353.7 Percentage difference relative to baseline 25.4%37.6%37.6% LWO LWO and HWPO April 12 Motion ($25/hr) April 12 Motion ($30/hr) April 12 Motion ($30/hr) and RHO 28 Impact to Airline/Service Providers In the April 12 Motion ($25/hr) scenario, we expect a loss of $95.8 million of visitor spending relative to the LWO scenario. With the increased minimum wage in the April 12 Motion ($25/hr) scenario, and the shift to expanded health care, we expect higher fares and reduced service levels will result in approximately 671,000 fewer passenger enplanements annually. This will result in the loss of approximately 131,000 annual overnight visitors to the City of Los Angeles, representing $95.8 million of lost visitor spending. Impact to concession activity and visitor spending Lost concessions Lost enplanements -671,366 -982,263 -982,263 Gross concession revenue per enplanement $12.11 $12.11 $12.11 Lost gross concession revenue (in millions)-$8.13 -$11.90 -$11.90 Lost visitor spending Lost visitors (overnight, City of Los Angeles)(130,835) (191,423) (191,423) Lost visitor spending (in millions, City of Los Angeles)-$95.8 -$140.2 -$140.2 LWO LWO and HWPO April 12 Motion ($25/hr) April 12 Motion ($30/hr) April 12 Motion ($30/hr) and RHO 29 Ordinance Scenarios: Concessionaires •Concessionaires •LAWA reported gross concession revenue of $366.3 million during FY2022, including significant amounts of in-terminal revenue, such as duty free, food and beverage, and advertising; as well as off-terminal revenue, such as auto parking and rent-a-car. •We did not specifically analyze the impact of the April 12 Measure on labor costs and operations across these categories of concessions, due to the tight timeline on this analysis. •Based on our understanding of operations such as airport concession F&B, we would anticipate that the April 12 Measure would represent a significant increase in operating cost that would cause most operators to institute significant price increases, reduce hours, reducing staffing and close outlets. The result would include fewer staff positions, fewer staff hours, increased costs for passengers, and decreased passenger satisfaction with the airport. Ultimately, we expect this would result in some reduction in passenger volumes. Net Impact to Wages and Benefits6 31 We estimated the impacts to wages and benefits on a net basis as well. We started with the lost wages and benefits as a result of lost visitor sales and hotel construction, and we added the increased wages and benefits at hotels and the airport, including induced, downstream, effects. The net result is shown in the last row. This shows: •In the LWO and HWPO scenario, there is a net reduction to wages and benefits of $222.8 million; •In the April 12 Motion ($25/hr) scenario, the increase to hotel and airport wages and benefits is narrowly greater than the loss in visitor spending and hotel construction, resulting in a net increase of $8.5 million; and, •In the April 12 Motion ($30/hr) scenario, the increase to hotel and airport wages and benefits is greater than the loss in visitor spending and hotel construction, resulting in a net increase of $104.9 million; and, •In the April 12 Motion ($30/hr) and RHO scenario, there is a net reduction to wages and benefits of $1.1 billion. In each of these scenarios, we anticipate some hotel and airport workers will lose hours and others will lose their job, with higher wages earned by certain remaining employees. The increase of wages and benefits will accrue to certain remaining workers at hotels and the airport, while the losses will affect certain other hotel and airport employees, and across a range of sectors, including jobs in construction, as well as F&B, and downstream services such as maintenance and wholesale distribution. Net Impact to Wages and Benefits Net impact to wages and benefits in millions, annual impact Impact to wages and benefits Lost wages and benefits due to visitor sales and hotel construction -$347.0 -$714.3 -$864.9 -$1,716.3 Increased hotel wages and benefits $101.2 $339.0 $421.1 $158.5 Increased airport wages and benefits $0.0 $250.4 $369.7 $369.7 Induced effect of net change to wages and benefits $22.9 $133.5 $179.1 $119.6 Net total impact to wages and benefits -$222.8 $8.5 $104.9 -$1,068.6 Source: Oxford Economics LWO LWO and HWPO April 12 Motion ($25/hr) April 12 Motion ($30/hr) April 12 Motion ($30/hr) and RHO Minimum Wage Tipping Point7 33 Minimum Wage Tipping Point •In many situations, researchers examining the impact of minimum wage increases are looking at situations with either small changes to a minimum wage, or a large change that still results in a wage that is low relative to other wages. •That such studies do not generally find strong indication of large negative employment effects does provide good guidance for a situation in which the wage increase is large, and results in a wage that is at a level well above more typical entry-level wages. •In the economic literature, there has been evidence that large hikes that cross a tipping point threshold from low minimum wage -to-median earnings to high minimum wage-to-median earnings cause significant declines in employment among low-income workers. •Thus, while the employment impact of minimum wage increases is debated, there is a foundation of evidence to suggest that large increases in the minimum wage, particularly above a certain threshold value, can lead to notable declines in employment among the most vulnerable workers. Research examples •The 1966 amendment to the Fair Labor Standards Act, which raised the national minimum wage 28% to $13.54 per hour in 2022 dollars and extended coverage to an additional 9.1 million workers, was found to significantly lower employment rates in certain subgroups, such as African-American men, who experienced a sharp and significant decline in employment during the year and annual hours worked. •During the 41% Federal minimum wage hike between July 23, 2007 and July 24, 2009 from $5.15 to $7.25, employment among low-wage workers fell. In addition, this increase led to a reduction in upward mobility among low-skilled workers by limiting their access to opportunities for accumulating work experience. •France has been plagued by high unemployment, and high youth unemployment in particular, a feature often attributed to the relatively high minimum wage. In France, the minimum wage is relatively high – 11.52 euros per hour as of May 1, 2023 or about $12.63 per hour. The 2019 French minimum wage increase in 2019 directly affected 13.4% of workers. Comparatively, in the U.S. approximately 1.1% of workers were at or below the Federal minimum wage in 2019. 34 Minimum Wage Tipping Point (continued) •In Denmark, when workers turn 18, they become eligible for the adult rate –approximately a 40% increase to a level comparable to a $15 minimum wage. This rise in the wage requirement has been found to cause a 33% drop in the employment rate and a 45% fall in hours worked for those impacted. •Significant increases in minimum wages have also been found to impact growth in the number of business establishments. Following Hungary’s minimum wage increase in 2001 from 35% of median earnings to 50%, an estimated 30,000 minimum wage workers lost their jobs (10.3% of total minimum wage workers) as firms substituted labor with capital. Not only did contemporaneous employment decline as a result of this minimum wage hike, but employment growth at the firms most affected by the minimum wage hike declined in future periods. References cited •Bailey, Martha J., John DiNardo, and Bryan A. Stuart. 2020. “The Economic Impact of a High National Minimum Wage: Evidence From the 1966 Fair Labor Standards Act.” NBER Working Paper 26926. •Clemens, Jeffrey, and Michael Wither. 2019. “The Minimum Wage and the Great Recession: Evidence of Effects on the Employment and Income Trajectories of Low-Skilled Workers.” Journal of Public Economics 170 53–67. •Manning, Alan. 2021. “The Elusive Employment Effect of the Minimum Wage.” Journal of Economic Perspectives 35 3-26. •Kreiner, Claus Thustrup, Daniel Reck, and Peer Ebbesen Skov. 2020. “Do Lower Minimum Wages for Young Workers Raise Their Employment? Evidence from a Danish Discontinuity.” Review of Economics and Statistics 102 (2): 339–54. •Harasztosi, Peter, and Attila Lindner. 2019. “Who Pays for the Minimum Wage?” American Economic Review 109 (8): 2693–2727. Additional Economic Impact Tables8 36 The accompanying table shows the impact of lost visitor spending due to hotel labor cost increases. The direct impact loss of visitor spending in the April 12 Motion ($25/hr) scenario relative to the LWO scenario is shown as $750.1 million of reduced output (business sales). Economic Impact: Hotel Visitor Spending City of Los Angeles, CA -Direct and Total Impacts Hotel visitor spending economic impact in millions (except jobs) Total Output -$487.2 -$1,246.7 -$1,550.0 -$3,752.4 GDP -$285.0 -$729.4 -$906.8 -$2,195.3 Wages and salaries -$177.4 -$453.9 -$564.3 -$1,366.1 Jobs -3,221 -8,243 -10,249 -24,811 Taxes -$71.0 -$193.1 -$237.8 -$631.3 Federal -$37.3 -$95.5 -$118.8 -$287.5 State and local -$33.7 -$97.5 -$119.1 -$343.8 Taxes on lodging $4.3 $3.4 $4.3 -$65.2 Property taxes -$7.7 -$23.3 -$26.7 -$44.7 Direct Output -$293.1 -$750.1 -$932.6 -$2,257.6 GDP -$167.0 -$427.3 -$531.3 -$1,286.2 Wages and salaries -$107.8 -$275.9 -$343.1 -$830.6 Jobs -2,251 -5,761 -7,162 -17,339 Taxes -$45.1 -$126.8 -$155.5 -$432.0 Federal -$22.7 -$58.1 -$72.2 -$174.9 State and local -$22.4 -$68.7 -$83.2 -$257.1 Taxes on lodging $4.3 $3.4 $4.3 -$65.2 Property taxes -$7.7 -$23.3 -$26.7 -$44.7 Source: Oxford Economics LWO and HWPO April 12 Motion ($25/hr) April 12 Motion ($30/hr) April 12 Motion ($30/hr) and RHOLWO 37 The accompanying table shows the impact of reduced hotel construction activity as a result of higher labor costs at hotels. The direct impact loss of $321.2 million of reduced hotel construction spending in the April 12 Motion ($25/hr) scenario relative to the LWO scenario is shown as reduced output (business sales). Economic Impact: Hotel Construction City of Los Angeles, CA -Direct and Total Impacts Hotel construction economic impact in millions (except jobs) Total Output -$426.5 -$509.1 -$542.5 -$667.4 GDP -$225.1 -$268.8 -$286.4 -$352.3 Wages and salaries -$169.6 -$202.4 -$215.7 -$265.3 Jobs -2,421 -2,890 -3,080 -3,789 Taxes -$54.2 -$64.7 -$68.9 -$84.8 Federal -$32.6 -$38.9 -$41.5 -$51.0 State and local -$21.6 -$25.7 -$27.4 -$33.7 Taxes on lodging $0.0 $0.0 $0.0 $0.0 Property taxes $0.0 $0.0 $0.0 $0.0 Direct Output -$269.0 -$321.2 -$342.2 -$421.0 GDP -$130.0 -$155.1 -$165.3 -$203.4 Wages and salaries -$116.5 -$139.1 -$148.2 -$182.3 Jobs -1,614 -1,927 -2,053 -2,526 Taxes -$32.1 -$38.3 -$40.8 -$50.2 Federal -$21.2 -$25.3 -$27.0 -$33.2 State and local -$10.9 -$13.0 -$13.8 -$17.0 Taxes on lodging $0.0 $0.0 $0.0 $0.0 Property taxes $0.0 $0.0 $0.0 $0.0 Source: Oxford Economics LWO LWO and HWPO April 12 Motion ($25/hr) April 12 Motion ($30/hr) April 12 Motion ($30/hr) and RHO 38 The accompanying table shows the impact of reduced visitor spending and reduced hotel construction activity as a result of higher labor costs at hotels. Economic Impact: Total Hotel Impact City of Los Angeles, CA -Direct and Total Impacts Total hotel economic impact in millions (except jobs) Total Output -$913.7 -$1,755.8 -$2,092.5 -$4,419.8 GDP -$510.2 -$998.1 -$1,193.2 -$2,547.6 Wages and salaries -$347.0 -$656.3 -$780.0 -$1,631.5 Jobs -5,643 -11,134 -13,329 -28,600 Taxes -$125.2 -$257.7 -$306.7 -$716.1 Federal -$69.9 -$134.5 -$160.3 -$338.6 State and local -$55.3 -$123.3 -$146.5 -$377.5 Taxes on lodging $4.3 $3.4 $4.3 -$65.2 Property taxes -$7.7 -$23.3 -$26.7 -$44.7 Direct Output -$562.2 -$1,071.2 -$1,274.8 -$2,678.6 GDP -$297.0 -$582.5 -$696.6 -$1,489.5 Wages and salaries -$224.3 -$415.0 -$491.3 -$1,012.8 Jobs -3,865 -7,688 -9,215 -19,865 Taxes -$77.2 -$165.1 -$196.3 -$482.2 Federal -$43.9 -$83.4 -$99.2 -$208.1 State and local -$33.3 -$81.7 -$97.1 -$274.1 Taxes on lodging $4.3 $3.4 $4.3 -$65.2 Property taxes -$7.7 -$23.3 -$26.7 -$44.7 Source: Oxford Economics LWO LWO and HWPO April 12 Motion ($25/hr) April 12 Motion ($30/hr) April 12 Motion ($30/hr) and RHO 39 The accompanying table shows the impact of reduced visitor spending as a result of higher labor costs for airlines/service providers at the airport. Economic Impact: Airport Visitor Spending City of Los Angeles, CA -Direct and Total Impacts Airport visitor spending economic impact in millions (except jobs) Total Output -$159.2 -$233.0 -$233.0 GDP -$93.2 -$136.3 -$136.3 Wages and salaries -$58.0 -$84.8 -$84.8 Jobs -1,053 -1,541 -1,541 Taxes -$27.3 -$40.2 -$40.2 Federal -$12.2 -$17.9 -$17.9 State and local -$15.1 -$22.4 -$22.4 Taxes on lodging -$5.2 -$7.8 -$7.8 Property taxes $0.0 $0.0 $0.0 Direct Output -$95.8 -$140.2 -$140.2 GDP -$54.6 -$79.9 -$79.9 Wages and salaries -$35.2 -$51.6 -$51.6 Jobs -736 -1,077 -1,077 Taxes -$18.8 -$27.8 -$27.8 Federal -$7.4 -$10.9 -$10.9 State and local -$11.4 -$17.0 -$17.0 Taxes on lodging -$5.2 -$7.8 -$7.8 Property taxes $0.0 $0.0 $0.0 Source: Oxford Economics April 12 Motion ($30/hr) and RHOLWOLWO and HWPO April 12 Motion ($25/hr) April 12 Motion ($30/hr) 40 For more information: www.oxfordeconomics.com Oxford Economics is one of the world’s foremost independent global advisory firms, providing reports, forecasts and analytical tools on 200 countries, 100 industrial sectors and over 3,000 cities. 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