In a comprehensive article on the potential for recovery by certain sectors of the hospitality industry, Andy Peskoe, GEABP’s co-head of the firm’s hospitality practice, predicted the following:
“We are sure to see a reduction in total restaurants able to operate profitably, but we expect that alternative tenants (specifically retail) will be closing at a rate exceeding hospitality businesses. Thus, the need for forward-looking landlords to partner with their hospitality tenants to help them reopen and help them find a profitable model is critical. These restaurant tenants are the best possible rent payers: The space is already built out, and they will have a supportive returning clientele to help with reopening.” The article can be found here.