By Joshua Bernstein, Kathleen Prystowsky and Kristen Niven
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Law360 (March 30, 2021, 5:10 PM EDT) —
The curtailing of travel and leisure activities in response to the ongoing COVID-19 pandemic has had an undeniably devastating impact on the hospitality industry.
In spring 2020, with the onset of the COVID-19 pandemic, hotels across the U.S. and internationally saw an unprecedented, immediate and catastrophic decline in occupancy unlike anything seen before in prior recessions. This has, inevitably, resulted in depressed revenues over a protracted period.
Estimates on when the industry will recover vary significantly, with many suggesting it could be two to five years for most hotels to recover to …