Sunday, October 25, 2020

NYC Hotel Occupancy Rate Crashes Toward 10% As Permanent Closures Loom

Prices at New York City hotels have plunged as the hospitality industry continues to try and grapple with the effects of the global pandemic.

Some hotels, like the Midtown Hilton, have remained closed since March. Others, like the Pierre, are operating in limited capacity. Those that are open for business have slashed prices by more than 60%, according to a new writeup by AlJazeera

Despite October usually being a fruitful month for tourism in NYC, coronavirus has forced the cancellation of staple events like the NYC Marathon and Fashion Week. And while the industry has definitely recovered since March, it still has a long way to go. 200 of New York's roughly 700 hotels remain closed, the article notes.

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