The NYC Hospitality Alliance conducted an important survey about rent, occupancy and other issues impacting our industry.
Some of our key findings include:
- 61% of respondents reported that they cannot operate at an occupancy that is less than 70%.
- 87.1% of respondents could not pay their May rent, or only paid a portion of it.
- Only 7.5% of respondents have (or will) begin hiring back employees for the PPP loan to be forgivable, while the other businesses that received the money don't believe they can meet the terms for loan forgiveness, thus creating debt for them
Thank you to all the businesses that participated in the survey. These findings will support our around the clock advocacy efforts and provide businesses with valuable insights into these important issues.
View the full survey below.