The United States of America has faced industry-wide economic crashes in the tourism industry. Multiple resort & hotels have entered bankruptcy since March 2020, with nobody anticipating the complete halt of profits for months on-end. Even largescale hotel chains like Holiday Inn, Motel Six, the Ritz-Carlton, and the Ramada have announced closure’s around their physical properties.
Hilton Worldwide Holdings Incorporated has faced multiple closures, with their global infrastructure beginning to fail amid continued travel restrictions & political uproars between governments that want to resume international tourism in their respective country. Hilton Worldwide Holdings Inc announced that they’re closing the “Hilton Times Square Hotel” in New York City on October 1st. This is a significant loss to the iconic tourist zone and shows the longstanding impacts of COVID-19 onto the travel industry.
Lawyers with Hilton Worldwide issued a public filing to the “New York State Department of Labour”, evoking that permanent closure of the 478-Room Hotel will begin at the start of October. COVID-19 was cited for creating unforeseeable circumstances that saw all profits removed from their operations. This closure has prompted 200 Jobs to become cut from the NYC tourism industry. It shouldn’t surprise employed personnel, who have been furloughed by the Hilton Times Square Hotel since March 16th.
New York City first saw the development of Hilton Times Square Hotel in 2000s. It’s faced notable challenges throughout its twenty years of operations, including the 9/11 Terrorist Attacks. When construction was finalized, there were 44-Floors available for guests to select from, with amenities like a Pool & Business Centre being supported.
Numerous entertainment venues have been held in their exhibition hall, which won’t see the light of day again until Hilton Worldwide Holdings Inc can find a buyer after the COVID-19 Pandemic. It’s expected that worldwide this company has lost $432 Million, with those losses slated to continue until an international vaccine is released.
All hope was lost for the Hilton Times Square Hotel when New York City became the epicentre of COVID-19 in America. Millions were becoming infected & thousands were dying, to the point that bodies were laid out on the street.