NYC’s Martinique Hotel Is Bankrupt, Hurt by Covid Vacancies (1)

The operator of the boutique Martinique hotel in Manhattan filed for bankruptcy, saying it has been so badly wounded by the pandemic that it must have concessions from its landlord and workers’ union.

It’s another sign that the nation’s hospitality industry is running out of time and money as vacancies pile up, especially at hotels heavily dependent on tourists and conventions. Herald Hotel Associates LP, which filed the Chapter 11 bankruptcy in New York Tuesday, said it had furloughed all but a handful of Martinique New York’s staff in March as the Covid-19 outbreak tore through the city.

The Martinique

Source: Google