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The economy beat expectations in June, adding 4.8 million jobs, with retail and hospitality leading the way. But a surge in coronavirus infections threatens further gains. (Getty)

Retail and hospitality led June job gains as virus surged

The U.S. added 4.8 million jobs in June and the unemployment rate fell to 11.1 percent, beating economists’ expectations....

Retail and hospitality led June job gains as virus surged
Alex Sapir with the NoMo Soho hotel at 9 Crosby Street (Nomo Soho)

Sapir Corp’s earnings highlight challenges facing NYC hotels

As the coronavirus crisis led many New York City hotels to close their doors, some properties have managed to...

Sapir Corp’s earnings highlight challenges facing NYC hotels
The rate of job loss in America has stabilized, even though businesses continue to hemorrhage employees at unprecedented levels. (iStock)

Unemployment filings stabilize — but at record highs

Another 1.5 million Americans filed for unemployment benefits last week, about one-third fewer than the week prior. The number...

Unemployment filings stabilize — but at record highs
GFI Capital CEO Allen Gross and the James Hotel at 22 East 29th Street (Google Maps)

GFI Capital takes majority stake in James Hotel in $110M deal

New York’s hotel market appears ripe for opportunity investors, as Allen Gross’ GFI Capital has upped its stake in...

GFI Capital takes majority stake in James Hotel in $110M deal
Federal Reserve Chairman Jerome Powell (Getty, iStock)

Real estate stocks outperform broader market but still sink

Real estate stocks recovered some of their losses after signs of a second wave of coronavirus infections pushed the...

Real estate stocks outperform broader market but still sink
The construction, retail and restaurant sectors led May’s surprising jobs rebound, while the hotel industry continued to suffer. (Getty, iStock)

Construction, retail, restaurants lead May jobs rebound

The U.S. added 2.5 million jobs in May, a surprising bounceback after a March and April that saw 22.1...

Construction, retail, restaurants lead May jobs rebound
The Hotel Indigo Lower East Side at 171 Ludlow Street and Rotem Rosen (Credit: Hotel Indigo)

Tallying crisis’ toll on MRR Development’s Hotel Indigo

Unlike many New York hotels, Hotel Indigo Lower East Side has kept its doors open during the coronavirus pandemic....

Tallying crisis’ toll on MRR Development’s Hotel Indigo
Selina CEO Rafael Museri (Credit: The Vollman Group)

Selina CEO says $60M in funding will get startup through crisis

Selina, a London-based hotel and co-working company backed by Adam Neumann, has reportedly raised some $60 million in financing....

Selina CEO says $60M in funding will get startup through crisis
Rotem Rosen with the Hotel Indigo Lower East Side at 171 Ludlow Street, and Alex Sapir with the NoMo Soho hotel at 9 Crosby Street (Credit: Google Maps)

Sapir gets PPP loan for NYC hotel; Rotem Rosen to return his

Alex Sapir’s Sapir Corp is the latest New York City hotel owner set to land a Paycheck Protection Program...

Sapir gets PPP loan for NYC hotel; Rotem Rosen to return his
Clockwise from top left: John Tolbert, Philip Goldfarb, Dev Motwani, José Cil and Ken Stiles

Developers, resort owners push for Florida reopening plan

UPDATED, April 21, 5:45 p.m.: Developers and leaders in Florida’s hospitality industry are calling for a clear plan for...

Developers, resort owners push for Florida reopening plan
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