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NYC Takes Biggest Hit From $59 Billion Business Travel Collapse

New York hotels are getting crushed by the collapse of business travel, highlighting the challenges that urban lodging markets face from the ongoing pandemic.

U.S. hotels are expected to lose $59 billion in revenue this year as companies keep business travelers home. New York City is the biggest loser, with other major cities and convention markets also seeing big declines, according to research published by Kalibri Labs and the American Hotel & Lodging Association.