From Cipriani to the Princeton Club: Can These NYC Icons Make It Through 2022?

This was supposed to be the year New York City restaurants, bars and hotels started to recover from the pain of the Covid-19 pandemic. Now, as the omicron variant forces flight cancellations and shutters Broadway shows once more, the timeline for a broader industry comeback is again in question.

It’s a brutal blow to hospitality companies that managed to survive 2020, but spent this year slowly rebuilding amid a slow rebound for tourism. While health experts expect the variant to be short-lived, and those who fall ill have reported less severe symptoms, omicron could still be the final straw for a new wave of real estate borrowers.