“At the beginning of the pandemic, there was widespread speculation around how this public health crisis would affect different commercial real estate sectors. Now several months in, it has become unmistakably clear the disproportionate impact the pandemic has had on the retail and hospitality industries. Once-bustling gathering places, many restaurants, in particular, have been forced to shift to takeout, delivery or limited in-person dining experiences that have unsurprisingly resulted in decreased sales.
Per the Colorado Restaurant Association, dining sales in 2020 were down by an average of 40% this year compared to 2019 and more than two-thirds of restaurants say they are considering closing permanently under current or worsened conditions.”
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Colorado Real Estate Journal 23 November 2020.