Malls And Hotels Going Out Of Business Due To Coronavirus Restrictions

Malls And Hotels Going Out Of Business Due To Coronavirus Restrictions


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The America that emerges from the coronavirus pandemic is shaping up to be visibly different than it was before the outbreak.

Restaurants and bars have been the most obvious to adapt, as most state’s coronavirus restrictions revolve around the service industry. Brick and mortar storefronts have also suffered, with thousands of business shuttering their doors, according to Yelp. In August, Yelp reported that more than 160,000 businesses had indicated on the review website they had closed, and further data from the website shows 60% of those closures will be permanent.

USA Today has now reported on the number of hotels and shopping malls suffering due to the pandemic.

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“In the New York area, the owners of 43 hotel loans were delinquent on loans backed by $1.5 billion in bonds as of Oct. 31, according to Trepp LLC, a research firm that tracks commercial real estate markets,” the outlet reported. “Another 30 owners of shopping malls and storefronts in the greater Chicago area were

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