New York City

75% of NYC Restaurants Lost at Least Half Their Business in 2020, Survey Finds

Virtually all of the respondents to the NYC Hospitality Alliance survey lost at least a quarter of their revenue last year

NBC Universal, Inc.

It's no surprise that New York City's restaurants were devastated by the pandemic, but a new industry survey suggests virtually no one escaped without their business being crushed.

Of the hundreds of restaurants, bars and nightclubs responding to an NYC Hospitality Alliance survey, 75 percent saw revenue fall by at least half in 2020 over 2019.

Hardly anyone was any luckier -- 96 percent of respondents lost at least a quarter of their revenue last year, according to the data released Wednesday.

Perhaps more ominous for the industry, though, was the survey's findings on owners' future plans. Asked if they would stay open post-pandemic without financial support like rent aid and eviction moratoriums, only 15 percent said yes, and nearly half said a firm no.

The nonprofit trade group surveyed 401 establishments from Feb. 23 to March 12.

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