The Business Journals - Week of April 5

Page 1

AWARD WINNING EDITORIAL

APRIL 5, 2021 VOL. 57, No. 14

TR US TE D J O U R NALI S M AT YO U R FI N G E RTI P S westfaironline.com

CLICK HERE FOR VIDEO

MONSTER SMASH Two veteran stars

Travel and tourism sector looking for rebound in ’21

rescue theater owners

BY PETER KATZ pkatz@westfairinc.com

T

wo old-time TWB Loan Decisionmonsters Banner Ad in a histormatch 6” w x ic 1.5” death h are helping lead the way 2-9-21 to recovery for a movie theater industry that was financially devastated by the pandemic. One such theater, National Amusements’

Showcase Cinema de Lux City Center 15 in downtown White Plains, is capitalizing on the new spectacular monster movie “Godzilla vs. Kong” by showing it not just once on April 3, but 24 times in various auditoriums at City Center, including the giant-screen IMAX theater. The idea was for as many people as possible

to be able to see it despite seating capacity in each auditorium being sharply limited to ensure social distancing due to the virus. “‘Godzilla vs. Kong’ is tracking better than any movie in terms of advance sales than any since the start of the pandemic,” Mark Malinowski, vice president of global » MONSTER SMASH

8

BY KEVIN ZIMMERMAN kzimmerman@westfairinc.com

A

sk Judy White, president and owner of Wilton Center Travel Ltd., how business was in 2020 and receive a succinct reply. “Nonexistent.” White’s daughter Margaret Sanko, a certified travel consultant at

YOUR COMMUNITY LENDER… HERE TO HELP (914) 368-9919

the company, provided a bit more detail. “New business gradually tailed off until it was nonexistent,” she told the Business Journal. “But there was a lot of rebooking of clients’ vacations, starting in the spring of 2020, which kept us busy.” The same song played at travel agencies across the country throughout last year. Travel’s economic footprint in the U.S. declined by 42% last year, from $2.6 trillion in 2019 to $1.5 trillion, according to end-of-year totals prepared for the U.S. Travel Association by the research firm Tourism Economics.

In addition, the group’s research found that travel-supported jobs fell by 5.6 million in 2020 (16.7 million to 11.1 million), representing 65% of all American jobs lost to the economic fallout from the pandemic. Travel and tourism had supported employment for 11% of the U.S. workforce prior to the onset of Covid, the group said. “While the gradual progress of vaccinations has provided hope that a turnaround may be on the horizon, it is still unclear when travel demand will be able to fully rebound on its own,” said U.S. Travel » TRAVEL IN ‘21

6


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.