Onerous Ordinance: NYC Law Threatens Industry Recovery
On October 8, a disastrous New York City law went into effect that threatens the future of hundreds of hotels and thousands of jobs. At a time when more than 200 New York City hotels have already closed and many others are on the verge of bankruptcy, Mayor Bill de Blasio signed into law the so-called “Severance Ordinance,” which requires shuttered hotels to pay weekly severance—up to $500 a week for up to 30 weeks—to […]
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