In the latest episode of Coronavirus SOS we interview Elias Vastis (Partner, Grizzle Ventures), a longtime restauranteur, and real estate investor in the city of Toronto.
We talk about the structural challenges COVID-19 presents for restaurants in North America, from both a cash flow perspective and supply change — the impact is unprecedented.
Early realtime data from OpenTable is showing deep declines in reservations year-over-year in major cities across North America.
We also examine the massive dislocation this causes the real estate market, how landlords and renters are going to cope with a very challenged economic backdrop. And ultimately what could it mean for the financial institutions that back these mortgages — it’s messy stuff to say the least.
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