as tourists stayed away and business travel dried up. Dozens of hotels with thousands of guest rooms closed.: Tightened supply due to permanent closures during the pandemic and demand from the city for rooms to house migrants.
Staff preps for the dinner rush at Gansevoort's rooftop omakase restaurant, Saishin. The hotel is on track to bring in 20% more revenue this year than it did in 2019.. Some hotel owners defaulted on their debt. Hotel owners and analysts predicted that the New York market wouldn’t recover until at least 2024.
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