As New York Reopens, Many of Its Hotel Rooms Look Closed for Good
Wall Street Journal
The pandemic that hit New York’s hotel industry harder than any other U.S. lodging market is expected to leave thousands of rooms there closed permanently, as the city starts to reopen after months of lockdown. New York hotels went into the coronavirus crisis suffering from falling occupancy and room rates, mostly because of a glut of new development. Now travel restrictions and a tattered economy brought about by Covid-19, the disease caused by the new virus, have aggravated an already-bad situ…