Hartford Business Journal

November 30, 2020

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www.HartfordBusiness.com • November 30, 2020 • Hartford Business Journal 21 By Matt Pilon mpilon@hartfordbusiness.com W hen Toronto's Major League Soc- cer team selected Pratt & Whitney Stadium in East Hartford as its temporary home field to avoid COVID-19 international travel restrictions, one beneficiary was downtown Hartford's Goodwin Hotel. The historic 124-room property, renovated and reopened in 2017, this fall housed Toronto FC athletes and staff, who filled about half of the total rooms. It was a godsend during an otherwise dismal time for hotels here and across much of the country, according to Charles Mal- lory, founder and CEO of Greenwich Hospitality Group, which co-owns the Goodwin with RMS Companies. "It was a very, very lucky and wel- come piece of business," said Mal- lory. "Had it not been for that, the oc- cupancy of the Goodwin, and I think virtually all of downtown Hartford, would be in the single digits." City hotels, which rely on busi- ness group travel and conventions, have been hit particularly hard dur- ing the pandemic, Mallory said. The broader Hartford-area hotel market, as defined by hospitality industry analytics firm STR, has seen occupancy levels down 40% or more, and revenues down 55% or more in September and October. At least one hotel — Homewood Suites on Asylum Street — has closed permanently, while three other distressed properties in the region have gone up for sale. Greenwich Hospitality's portfolio contains luxury properties that of- Continued on page 22 >> Many hotels have hung on, but pandemic's true impacts could be felt soon What better banking's all about sm . westfieldbank.com You've got enough on your plate. We're here to help. Smart Business Banking Smart Business Banking is a suite of accounts and services designed to make business banking more convenient and affordable. To us, saving you time and money is what better banking is all about. To learn more, visit westfieldbank.com/smart-biz or call 860.519.5482. n 500 free items* per month n No monthly service charges n No minimum balance requirements Member FDIC Free Small Business Checking *"Items" include deposits, all deposited items, and all paid items (i.e., checks, ACH debits, etc.) THE REAL DEAL Charles Mallory's Greenwich Hospitality Group owns or co-owns seven luxury and boutique hotels in Connecticut, including the Delamar West Hartford and Hartford's Goodwin Hotel. PHOTO | CONTRIBUTED

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