When New York City entered Phase 2 of reopening on June 22, restaurants were permitted to offer outdoor dining to customers. Indoor dining was expected to begin on July 6, when the city would join the rest of the state in Phase 3. However, on July 1, Mayor Bill de Blasio announced indoor dining would be put on hold indefinitely, citing states like Florida and Texas that had seen COVID-19 cases rise dramatically after allowing restaurants to begin indoor dining.
A new study shows just how devastating these recent developments have been for the hospitality industry.
The NYC Hospitality Alliance surveyed 471 owners and operators of restaurants, bars and nightlife establishments across the city for its July 2020 Rent Report. Data was collected between July 15 and July 28. The study found that 83% of respondents did not pay their full rent for the month of July. A nearly equal amount were split between paying some rent (36.6%) and paying none (37.4%). Only 17.1% responded that they were able to pay rent in full for the month.
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Richard Binder
Richard Binder, based in New York, is part of the social media team at ALM. He is also a 2014 recipient of the ASPBE Award for Excellence in the Humorous/Fun Department.
