{"id":2458289,"date":"2020-05-10T23:36:00","date_gmt":"2020-05-11T05:36:00","guid":{"rendered":"https:\/\/www.aspentimes.com\/news\/aspen-landlords-face-harsh-reality\/"},"modified":"2020-05-11T07:44:21","modified_gmt":"2020-05-11T13:44:21","slug":"aspen-landlords-face-harsh-reality","status":"publish","type":"post","link":"https:\/\/alwaysmountaintime.com\/kspn\/local-news\/aspen-landlords-face-harsh-reality\/","title":{"rendered":"Aspen landlords face harsh reality"},"content":{"rendered":"
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Before The Virus, dining in restaurants was routine. Patrons didn\u2019t scrutinize the staff\u2019s health. We didn\u2019t think about density, spacing, screening. No one weighed \u201cshould we have another round\u201d against \u201clet\u2019s go home where it\u2019s safe.\u201d When the restaurants reopen, though, patrons\u2019 behavior will reflect those factors; restaurant operators will have to accommodate the new realities. Different operating models will appear.<\/p>\n

The new restaurant models will generate less revenue than the old ones. Will our restaurants survive? The city and county, themselves financially enfeebled by The Virus, can\u2019t (nor should they) step in. It\u2019s up to the landlords.<\/p>\n

Landlords are entitled to seek profits. But they can\u2019t defy economics. When a tenant\u2019s sales decline by one third, it can\u2019t pay the same rent it used to. Some landlords are facing this reality, working with tenants, modifying leases. Good for them. But some aren\u2019t. Wake up, landlords. It\u2019s a new era in Aspen. You can\u2019t change that.<\/p>\n

Maurice Emmer<\/p>\n

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