Times Square: Slowly, but surely, the iconic intersection is bouncing back

10/12/23 7:00PM

Squarely back in business‍

‍Times Square is buzzing brightly once again, as the glitzy attraction recently celebrated its 180th business opening since the pandemic — finally surpassing the 179 businesses that Covid-19 permanently shuttered.

As rubbing shoulders with strangers was the last thing on anyone's mind during the pandemic, daily visitor numbers plummeted from an average of over 360,000 in 2019 to just 125,000 in 2020, only inching up to a little over 172,000 the following year, per the Times Square Alliance.

Having once held the coveted title of the most visited location in the world, reaching its pre-pandemic neon highs was never going to happen overnight for Times Square. However, with businesses reopening, hotel bookings are also on the up — the area accounted for a quarter of the $1.9 billion worth of hotel transactions in Manhattan this year. Although visitor numbers have inched closer to 2019 levels so far in 2023, no month has yet brought the iconic intersection back to its former footfall heights.

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Starbucks disclosed on Monday evening in a regulatory filing that it will sell control of its ailing China business to Boyu Capital for about $4 billion.

Under the agreement, Boyu will own a 60% stake in the China segment, which will become a joint venture between Boyu and Starbucks. The coffee chain will retain a 40% interest in the entity and will continue to own and license the brand and intellectual property.

Bloomberg reported earlier this year that the company was looking to sell its China segment. The American coffee giant has struggled to succeed in China, its second-largest market after the US.

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Despite a record year of passenger numbers, flight cancellations, and delays, a new survey has revealed that flyers have been increasingly satisfied about their experiences in North American airports.

According to this year’s North America Airport Satisfaction Study from data analysts at J.D. Power, overall passenger satisfaction scores were up 10 points (on a 1,000-point scale), largely from “improvements in food, beverage and retail and ease of travel through the airport.” The annual survey measures overall traveler satisfaction across the region’s airports in seven categories (in order of importance): ease of travel, level of trust, terminal facilities, airport staff, airport departure experience, food and retail, and airport arrival experience.

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Times Square: Slowly, but surely, the iconic intersection is bouncing back

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Starbucks sells control of China business for $4 billion

John Wayne Airport in Orange County tops the list of North America’s favorite airports

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