New York City's hotel industry continues to plummet, asks city for loans with interest rate abatement
NEW YORK (WABC) -- Hotels, like so many in the hospitality industry, are suffering amid the pandemic and now hotel owners are asking for help. Normally bustling hotels in New York City's heaviest traveled tourist areas are now in crisis due to the pandemic, business restrictions, and lack of tourism. Room rates have plummeted without tourists to patronize them or their restaurants, and thousands of workers have lost their jobs. "New York's hotels are in serious trouble," Hotel Association President and CEO Vijay Dandapani said. "Two hundred hotels closed either temporarily or permanently, tho...
Source: abc7ny.com