Business at city hotels down a stunning 90%

Of all the industries devastated by Covid, hotels have perhaps been hit the hardest — and far worse than occupancy rates would suggest. Sales tax from hotels from June through August were down 90 percent from the same time last year, according to an analysis by the Citizens Budget Commission. That represents a shortfall of $2.2 billion and was even worse than the previous quarter’s 88 percent drop. The occupancy rate at hotels in the

source https://therealdeal.com/2020/10/29/business-at-city-hotels-down-a-stunning-90/