For Beach Towns the Make or Break Summer Starts Now
The Wall Street Journal (reposted on Realtor.com) recently highlighted the plight of beach towns reopening for tourists in what they’re calling a “make or break” summer season. In particular, they looked at areas along the east coast from Ocean City to Cape Cod. Some owners beg the question of whether the crowds will return or even if their respective governments will let them reopen in a way that allows them to make a profit. One owner stated it rather bluntly: “I have 110 days to make my money for 365.” Indeed…
“From Ocean City to the Jersey Shore to Cape Cod, the window between Memorial Day and Labor Day is make-or-break for hotels, restaurants, arcades and T-shirt shops. On top of potential concerns about the coronavirus pandemic, more than 36 million Americans have filed for unemployment benefits, pinching disposable incomes.”
“For the hundreds of Ocean City businesses, reopening can’t come soon enough, says Susan Jones, executive director of the Hotel Motel Restaurant Association. A “we’re ready for you” publicity campaign spotlights stepped-up sanitizing and other health measures. One reason Ms. Jones says she feels optimistic is that the town’s wide beach makes social distancing easier.”
The post For Beach Towns the Make or Break Summer Starts Now appeared first on Real Estate Investing Today.