Hosts could lose 400 billion
More specifically, the absence of New Year’s Eve guests at the very end of December. The forced closures (the 23-hour, then full) pushed hospitality into a nadir in April, when markets fell by a quarter.
Summer brought better months, but the troubles caused by the second wave of the pandemics that began in the autumn washed away more of the restaurant market. Unfortunately, not all caterers will be able to climb out of this pit anymore.
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