Cape Cod, Massachusetts discussed on This Morning: America's First News with Gordon Deal

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Shore up to Cape Cod in Massachusetts the window between Memorial Day and Labor Day is make or break for hotels restaurants arcades places like T. shirt shops on top of potential concerns about the corona virus pandemic more than thirty six million Americans have filed for unemployment benefits pinching disposable incomes what will the summer look like for beach towns and businesses the wait all year for summer here Scott Calvert reporter at the Wall Street journal Scott must be a lot of anxiety yeah they're super anxious because you know basically they make their money from Memorial Day to Labor Day every summer and this year is no different except everything is different this year right and their very stressed out I think because Hey there are a lot of restrictions still in a lot of these beach towns you know really a call across the northeast and mid Atlantic all the way up into New England and there are questions about who will actually show up you know once the restrictions are eased in terms of in terms of toward a certain end customers and how comfortable they'll be visiting and and spending their money so big question marks yeah Jeez art so in your neck of the woods along the the Maryland shore and if the one guy's court your story I early on he said I basically have a hundred and ten days to make money for three hundred sixty five days that which is not unusual however summer saying I am the guy just trying to make it to next year exactly yes I was in Ocean City Maryland and you know this is a this is the time of year when things are really starting to heat up you know there are seven thousand year round residents but on big summer weekends you can have three hundred thousand people in Ocean City on the board walk on the beach at the miniature golf places of the restaurants and the bars the use of parks in all the usual things that you do a summer beach town and the person you mentioned Kevin Gibbs he operates the door restaurant at the foot of the boardwalk more or less and part of his challenges he's a mostly indoor restaurants got fifty three tables and right now they're zero service allowed indoors at restaurant in restaurants in Maryland and they haven't even moved to the point where you can have even limited outdoor seating so he's not here the take out window which does a good chunk of of his business but he really needs that dining room to open up again yeah so what kind of restrictions have been lifted at this point that may be offering some measure of optimism for folks in say Ocean City Maryland well you're about ten days ago the town opens a boardwalk and the beach and then last week governor Larry Hogan listed statewide stay home order and moved into a phase one which among other things allows for retail establishments to the open at fifty percent capacity but what the cumbersome city did at that point was say that hotels and short term rentals could start taking guests again and so that means that you know people can someone go to Ocean City they can they can they can stay in the hotels and do do some things but there today obviously are pretty limited in what they can do still far as restaurants go stick with Scott Calvert reporter at the Wall Street journal this piece is called for beach towns coronavirus means a make or break summer starts now have any of these independent owners and operators of various beach entities found that the paycheck protection program was a help in urging some sort of gap absolutely I talked to several business owners who have applied for and received those loans one guy I talked to Adam shall he is what are your castle in the sands hotel the whole family business that's been there since the late nineteen fifties I think it opened in nineteen sixty so long track record he actually got a paycheck protection alone in the five hundred thousand dollar range which he said is is pretty key you know and so that means he's he can he can hire our folks back and and use that money to pay them and then if he you know meet certain criteria that map converted to a grant becomes forgivable so he's he's taken advantage of that he also got deferment on mortgage payments from from a lender and in addition he you know he normally does several hundred thousand dollars worth of of upgrades to the hotel you know just kidding of super stop right and so he's going to pull back on on that you know I guess in the off season after the summer is over here to get a lot of stuff this past winter so those three things is giving him a great sense of optimism that while his gross revenue will probably be down he thinks he's given that out pretty close to a typical summer thing Scott Scott Calvert reporter at the Wall Street journal twenty minutes now in front of the hour.

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