This was supposed to be the year New York City restaurants, bars and hotels started to recover from the pain of the Covid-19 pandemic. Now, as the omicron variant forces flight cancellations and shutters Broadway shows once more, the timeline for a broader industry comeback is again in question.
It’s a brutal blow to hospitality companies that managed to survive 2020, but spent this year slowly rebuilding amid a slow rebound for tourism. While health experts expect the variant to be short-lived, and those who fall ill have reported less severe symptoms, omicron could still be the final straw for a new wave of real estate borrowers.
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