Hotel owners on the East Coast say they’ve lost revenue from Hurricane Sandy that can’t be recouped, the Wall Street Journal reports. The biggest losses will likely come from canceled conferences, hotel closures, and travel disruptions in New York and New Jersey. “For the most part, this will be lost business that you’re never going to get back,” Ray Martz, chief financial officer of Pebblebrook Hotel Trust, tells the Journal.
Even though some hotels are seeing an uptick from stranded travelers, locals without power, and recovery workers, cancellations continue to outpace new bookings thus far, according to the newspaper.
