Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
This crisis will weed out businesses that weren't doing well to begin with. Things will go back to normal within the next year. People will travel again, go to sporting events again, etc. Its not going to happen the next day but it will happen. I don't believe entire industries will disappear because of this.
This may be a bit premature, but I don't see a lot of the marginal chain restaurants making it out of this.
A lot of the chains also have issues at the corporate level- they're over-leveraged, their business model is high volume to make up for low margins (the prices on their specials are often the same or cheaper than they were twenty years ago, and you can only cut quality so much even in America) or their customer base has moved on to other places and they're throwing a bunch of stuff up against the wall to see what sticks. I mean Applebee's has been trying to reinvent itself every 2-3 years since about 2005 but none of the concepts seem to make it long term.
Cheesecake Factory isn't paying its rent right now
The hospitality industry has been hit hard, but will also recover more quickly than you expect. People still want to dine out and travel.
.
Doubt it.
Business, not casual travelers, drive hotel profits. Business pays list price or perhaps get 10-15% off, millions of casual travelers book Priceline or like sites, where hotel gets at most 50% of list, as PL gets a big cut.
Businesses will reduce travel sharply for years due to safety plus finding remote meetings worked well, with less cost.
That decimates hotel profits.
The rest of the OP's list is in dire condition for many years, also. Theatres are toast, as are most clubs and bars.
Education. I think we'll see numerous universities go into financial exigency. Some will close. Big names. Like flagship state universities. They'll go under or shrink by 40-70%.
Seriously? You think people only have sex after they go to a bar? You must be young. I guess if you're single with no significant other you can see it this way; however, most have been on stay at-home orders the last 2 months WITH their significant others. What do you think people are doing at home? There will definitely be a boom in babies in 7-10 months from now, I'm sure!
The business's that are forward thinking, innovative with equity will consider this the edge they need. Think about it. Appease the Mass's, brings more funds. All while meeting the social requirement for health safety.
We've already seen the transitioning start.
Here's the bottom line, no matter what direction it goes...the consumer will pay up! Economically I'm not ready to line the Masters pockets.
Business, not casual travelers, drive hotel profits. Business pays list price or perhaps get 10-15% off, millions of casual travelers book Priceline or like sites, where hotel gets at most 50% of list, as PL gets a big cut.
Businesses will reduce travel sharply for years due to safety plus finding remote meetings worked well, with less cost.
That decimates hotel profits.
The rest of the OP's list is in dire condition for many years, also. Theatres are toast, as are most clubs and bars.
While individual bars will close, the basic desire of people wanting to drink with other people isn't going away. Once the virus fades and people don't fear getting infected, bars will be back.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
