COVID-19 pandemic continues to take financial toll on many Downtown Dallas businesses
DALLAS - The ongoing pandemic is taking a financial toll on many Downtown Dallas businesses.
Several have had to close their doors due to a lack of foot traffic and sales, and hospitality workers are learning to do more with less.
According to a list put out by Downtown Dallas Inc., nearly 30 businesses have permanently closed since the pandemic hit.
Hotel occupancy remains low due to a lack of business travel, and restaurants are struggling to stay afloat.
The hope is that when workers return to their downtown offices, so will business.
Small business closing sign due to Covid-19 coronavirus.
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The owners of Partenope Ristorante in Downtown Dallas have seen their profit margins plummet since the spread of COVID-19.
“We just try to stay positive. At first it was like, ‘Okay, let's just get through the summer.’ Now it's like, ‘Okay, let's get through summer and part of fall,’” owner Megan Santonicola said.
The streets of Downtown Dallas remain largely empty, with many Texans continuing to work from home.
“Lunch unfortunately is still gone. Offices, you know, are not really around,” owner Dino Santonicola said.
During a virtual town hall hosted by Downtown Dallas Inc. Thursday, a commercial real estate vice president, with several large buildings downtown, says workforce occupancy is at just 20 to 25 percent.
“There is a hopefulness in the community that this is a temporary slowdown in activity and not a permanent shift,” said Sara Terry, with Stream Realty Partners.
In a list put out by Downtown Dallas Inc., nearly 30 businesses have permanently closed since COVID-19 hit the area.
Some are temporarily closed or have reduced hours, though many others remain open.
“The stability of Downtown Dallas is critical to the social and economic health of our entire city,” said Kourtny Garrett, with Downtown Dallas Inc.
Hotel occupancy remains low as well.
Sam Tucker is the area director for sales and marketing at The Adolphus.
The iconic hotel had a staff of 400 prior to the pandemic, but currently they have 35 full-time employees.
The bulk of business has shifted to weekends.
“Many, many people who want to get out of their houses and have a staycation,” Tucker said. “A lot of companies still have travel bans, so we're not seeing our typical traveler come back yet Monday through Thursday. Eventually they will.”
It's not all bad news.
According to Downtown Dallas Inc., residential occupancy remains at 90 percent.
Many of those people patronize local shops and restaurants, and $4 billion in new development continues to move forward.