Deborah Friedland Discusses Hilton Times Square Closure on Bloomberg Radio
September 04, 2020
Deborah Friedland, Managing Director and Practice Leader of EisnerAmper’s Hospitality Advisory Services was a guest on Bloomberg Radio’s Markets program discussing the stunning news of the closure of the Hilton Times Square.
With hotel occupancy rates down from 90% to 37% as a result of the pandemic, Deborah has seen many cycles in the hospitality industry, but calls this one the worst—radically changing the urban hotel market.
However, Deborah remains optimistic. While it will take time, she feels the industry will eventually bounce back. She cites pent-up demand and a desire for business travelers to meet in person with their clients.
Those properties that have made investments in safety, technology and marketing should survive this downturn. As Deborah says: “I’m always bullish on NYC; I would never bet against it.”