Pandemic Puts N.Y.C. Hotels on the Brink: ‘A Complete Washout’

[JacksinPA]

Pandemic Puts N.Y.C. Hotels on the Brink: ‘A Complete Washout’ (Published 2020)

Several big hotels in the city have announced that they are closed for good, and some experts say that more shutdowns are coming.

www.nytimes.com

Several big hotels in the city have announced that they are closed for good, and some experts say that more shutdowns are coming.

Many of New York City’s biggest hotels closed their doors in March when the coronavirus wiped out tourism and business travel. The shutdowns were supposed to be temporary, but six months later, with no potential influx of visitors in sight, a wave of permanent closures has begun.

Sinking under the weight of overdue mortgage payments and property taxes, some hotels have already shut down for good, and many others are struggling to survive.

In the last two weeks, the 478-room Hilton Times Square and two Courtyard by Marriott hotels in Manhattan said they would not reopen, joining several others that had already closed for good, including the 399-room Omni Berkshire Place in Midtown.

All told, more than 25,000 hotel employees have been out of work for more than six months, making the industry one of the hardest-hit in the city and emblematic of the challenges New York faces as it tries to recover from the economic crisis set off by the coronavirus outbreak.
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This pandemic is causing some major changes to the country. And I see the rate of change increasing this winter as the coronavirus resurges.

 

[ElChupacabra]

I've been kept abreast of this by a neighbor who worked in the industry. Even months ago she was telling me that it was likely there were going to be closures if the pandemic would not be over quickly. From what I hear, Midtown Manhattan is a relative ghost town compared to its former self. What concerns me is this down turn meaning the beginning of a new decline in NYC. Depending on how large corporations choose to reopen, it could spell more people leaving the city since they can work remotely or only have to come in at a lower rate. This will have all sorts of impacts on the small businesses that remain in the Midtown area.

 

[JacksinPA]

I've been kept abreast of this by a neighbor who worked in the industry. Even months ago she was telling me that it was likely there were going to be closures if the pandemic would not be over quickly. From what I hear, Midtown Manhattan is a relative ghost town compared to its former self. What concerns me is this down turn meaning the beginning of a new decline in NYC. Depending on how large corporations choose to reopen, it could spell more people leaving the city since they can work remotely or only have to come in at a lower rate. This will have all sorts of impacts on the small businesses that remain in the Midtown area.

I lived in Manhattan for a year in the late 60s & used to explore the city on weekends. I'll bet it's becoming creepy with all the changes.

 

[Metric Mouse]

Pandemic Puts N.Y.C. Hotels on the Brink: ‘A Complete Washout’ (Published 2020)

Several big hotels in the city have announced that they are closed for good, and some experts say that more shutdowns are coming.

www.nytimes.com

Several big hotels in the city have announced that they are closed for good, and some experts say that more shutdowns are coming.

Many of New York City’s biggest hotels closed their doors in March when the coronavirus wiped out tourism and business travel. The shutdowns were supposed to be temporary, but six months later, with no potential influx of visitors in sight, a wave of permanent closures has begun.

Sinking under the weight of overdue mortgage payments and property taxes, some hotels have already shut down for good, and many others are struggling to survive.

In the last two weeks, the 478-room Hilton Times Square and two Courtyard by Marriott hotels in Manhattan said they would not reopen, joining several others that had already closed for good, including the 399-room Omni Berkshire Place in Midtown.

All told, more than 25,000 hotel employees have been out of work for more than six months, making the industry one of the hardest-hit in the city and emblematic of the challenges New York faces as it tries to recover from the economic crisis set off by the coronavirus outbreak.
============================================================
This pandemic is causing some major changes to the country. And I see the rate of change increasing this winter as the coronavirus resurges.

These hotels were run as poorly as any of Trump's properties. No wonder they went under. A hotel failing in New York City is as bad as a casino folding in Vegas, or Atlantic City. Good riddance.

 

[ElChupacabra]

These hotels were run as poorly as any of Trump's properties. No wonder they went under. A hotel failing in New York City is as bad as a casino folding in Vegas, or Atlantic City. Good riddance.

Hotels aren't going to be able to sustain themselves with the low occupancy rates they have experienced for the past six months. Compared to the normal volume of tourism one would see in NYC, it's a ghost town now.

 

[Metric Mouse]

Hotels aren't going to be able to sustain themselves with the low occupancy rates they have experienced for the past six months. Compared to the normal volume of tourism one would see in NYC, it's a ghost town now.

Sounds great for the planet. Less tourism means fewer carbon emissions, fewer single use items in hotels, far lower water usage from the high volumes of laundry, etc. etc. A small step in the right direction.

But failing, poorly run businesses in New York is nothing new, as a famous New York politician/real estate mogul has shown for a few dacades.

 

[Moderate Right]

Pandemic Puts N.Y.C. Hotels on the Brink: ‘A Complete Washout’ (Published 2020)

Several big hotels in the city have announced that they are closed for good, and some experts say that more shutdowns are coming.

www.nytimes.com

Several big hotels in the city have announced that they are closed for good, and some experts say that more shutdowns are coming.

Many of New York City’s biggest hotels closed their doors in March when the coronavirus wiped out tourism and business travel. The shutdowns were supposed to be temporary, but six months later, with no potential influx of visitors in sight, a wave of permanent closures has begun.

Sinking under the weight of overdue mortgage payments and property taxes, some hotels have already shut down for good, and many others are struggling to survive.

In the last two weeks, the 478-room Hilton Times Square and two Courtyard by Marriott hotels in Manhattan said they would not reopen, joining several others that had already closed for good, including the 399-room Omni Berkshire Place in Midtown.

All told, more than 25,000 hotel employees have been out of work for more than six months, making the industry one of the hardest-hit in the city and emblematic of the challenges New York faces as it tries to recover from the economic crisis set off by the coronavirus outbreak.
============================================================
This pandemic is causing some major changes to the country. And I see the rate of change increasing this winter as the coronavirus resurges.

This is exactly why Trump said the virus "is what it is" and opened the economy back up. The cure is worse than the disease itself. Many of the very same countries that the left have touted over in Europe are just like New York. They locked up for long periods, and are finally reopening to virus surges. Trump had the foresight to see this early on, realizing that as soon as you open back up the virus is right back with us, and the lockdowns were all for naught. The virus is just something we have to learn to live with while finding treatments for it and vaccines and mitigating the damages as much as possible without destroying the economy in the process. We are getting better and better at decreasing the mortality rate. New York taught us not to send Covid patients to nursing homes.

 

[ElChupacabra]

Sounds great for the planet. Less tourism means fewer carbon emissions, fewer single use items in hotels, far lower water usage from the high volumes of laundry, etc. etc. A small step in the right direction.

Sure, but the problem is what happens to the people displaced by the collapse of any industry and how that's mitigated in the short run.

But failing, poorly run businesses in New York is nothing new, as a famous New York politician/real estate mogul has shown for a few dacades.

I'm not sure how you've come to the conclusion some hotel closures are the result of them being "failing, poorly run businesses". It's hard for any business to deal with major losses to its profits.

 

[Mongidig]

New York has over did it with the closures. I heard that 90% of restaurants weren’t able to pay rent last month. The virus is just waiting for them to open back up. They should have just slowly opened back up rather than stay shut down. I’m sure a big reason they don’t want to open is the threat of the anti mask turds. You would think we could all work together on this.