• Shuttered hotels costing NY $1.3 billion in tax receipts, report says

    Shuttered hotels costing NY $1.3 billion in tax receipts, report says

    Severe limitations on travel and the virtual shutdown of the hotel industry during the coronavirus pandemic is wreaking havoc on the treasuries of state and local governments, a sobering new report reveals. Tax revenues that hotels generate for New York’s state and local governments will crater by $1.3 billion this year, according to an analysis …