Pandemic Tests Hospitality Industry At Midyear Point
By Joyce Hanson (August 20, 2021, 8:34 PM EDT) -- The COVID-19 pandemic has hit the hospitality industry hard, and hotels and restaurants at midyear 2021 continue to grapple with insurance coverage lawsuits, debt workouts and limited government aid even as vaccinations have made people feel safer and allowed businesses to reopen more fully.
But a sense of cautious optimism now prevails, hospitality lawyers say, as lenders work out deals with hospitality businesses strapped for cash, hotel mergers and acquisitions get done, pandemic-weary consumers flock to restaurants, and cruise companies keep launching ships with health and safety protocols in place.
"The effects of the pandemic on the industry have been bad...
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