NYC’s catastrophic hotel crisis isn’t ending anytime soon

A happy ending is in sight to the Big Apple’s hotel industry catastrophe — just wait until 2026!

“I am supremely optimistic for five years from now,” said Vijay Dandapani, president of the Hotel Association of New York. But the short- and medium-term outlooks are another story.

“The key thing is that international travel is not here yet” and there’s no way to know when it will fully return, despite President Biden’s plan to reduce restrictions by some time in November, Dandapani said.

The beleaguered industry’s plight is epic in scope. Of the city’s total 700 hotels pre-pandemic, about 250 either closed or were converted to homeless

→ Continue reading at New York Post

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