The coronavirus pandemic has wiped out hotel occupancy in urban areas, including the heart of New York City.
Hilton is closing its 478-room hotel in Times Square effective Oct. 1, according to a document it filed with state regulators this week. Two hundred employees will lose their jobs, the filing says, due to “unforeseeable business circumstances prompted by COVID-19.”
The 44-story hotel at 234 West 42nd Street opened in 2000, according to its website.
According to a report this week from the American Hotel and Lodging Association, an industry group, hotel occupancy in urban markets was 38% in August, well below the 50% it takes for most properties to break even.
Labor Day weekend hotel bookings down: Reservations drop 65% from 2019 due to COVID-19, industry group says
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