In the News: NYU SPS Experts Discuss the Impact of the Coronavirus on Various Industries with Media

As the COVID-19 pandemic continues to escalate, its effect is being felt around the world. Media outlets are seeking out the expertise of the NYU SPS faculty for commentary and insights on the crisis and its impact on the many industries the School serves. The following is a sampling of the articles and interviews in which our faculty members have been involved. This page will be updated frequently, so check back often.

Corona Virus

September 1, 2020:

NPR - Dustin Jones, newly appointed academic director of US graduate programs at the NYU SPS Schack Institute of Real Estate, recently participated in an NPR segment that aired on September 1, regarding the impact of COVID-19 on New York City’s economy and on day-to-day life in Manhattan. According to Jones and others who were interviewed, the normal activity and buzz typically felt on the streets of Manhattan remains diminished. All agreed, the economic impact, the job loss, and the exodus of nearly half a million people out of the City will deeply affect its future recovery.

July 1, 2020:

Skift – In a recent story in Skift on the European Union's ban on American travelers due to rising US COVID-19 cases Nicolas Graf, associate dean at the NYU SPS Jonathan M. Tisch Center of Hospitality, foresees that American hotel chains such as Marriott and Hilton, which tend to operate in the upscale markets in Europe, will feel the biggest sting. He added that brands in the midscale or budget segments are less likely to be affected by the ban.

May 7, 2020:

CNBC - In a CNBC opinion piece, Lee Igel, clinical associate professor at the NYU SPS Preston Robert Tisch Institute for Global Sport, Arthur L. Caplan, director of the Division of Medical Ethics at the NYU Grossman School of Medicine, and Richard Florida, a distinguished fellow at the NYU SPS Schack Institute of Real Estate, shared their thoughts on how sports can return from the COVID-19 crisis and help America heal by bringing back energy and economic stimulus to a nation left reeling by the crisis.

Multi-Housing News - In a recent article in Multi-Housing News, NYU SPS Schack Institute of Real Estate Associate Dean Sam Chandan discussed what historic unemployment means for the multifamily housing market during the COVID-19 shutdown. He noted that unemployment rates among renters seems to be higher than homeowners, and asserted that assistance for renters will be essential."

May 5, 2020:

Adweek - In Adweek, Nicolas Graf, associate dean at the NYU SPS Jonathan M. Tisch Center of Hospitality, shared his view on Carnival Cruise Lines’ plans to return to sea with a partial reopening of its operations in August, one week after the Central for Disease Control’s COVID-19 restrictions are lifted for the cruise industry. 

April 30, 2020:

Marketwatch - Anna Tavis, academic director of the Human Capital Management program and clinical associate professor at the NYU SPS Division of Programs in Business (DPB), discussed what the office and work could look like post-COVID-19 in a recent MarketWatch story. According to Tavis, this crisis will redefine our future work lives, including how we travel to and interact in offices.

Brick Underground - In a recent article on brickunderground.com, NYU SPS Schack Institute of Real Estate Associate Dean Sam Chandan discussed New York City rents in the wake of the COVID-19 pandemic. He commented that in a baseline scenario, it was anticipated there would be measured declines in rents—in asking and effective rents—in the second and third quarters, with stabilization in the fourth quarter."

April 29, 2020:

Youtube  - In the NYU SPS Preston Robert Tisch Institute for Global Sport Chalk Talk Series on YouTube, faculty experts tackle the critical issues facing the world of sports today, including the current social and economic impact of COVID-19 on sports, and what amateur, collegiate, and professional athletics may look like post-pandemic.

April 27, 2020:

The Real Deal – In a recent article on therealdeal.com on multifamily US markets, NYU SPS Schack Institute of Real Estate Associate Dean Sam Chandan sounded a positive note for the multifamily sector, which he said has stayed relatively stable and is still enjoying “positive market sentiment” overall in the COVID-19 economy.

April 26, 2020:

China Global Television Network (CGTN) – In an interview with the China Global Television Network (CGTN), Daniel G. Kelly II, academic director of graduate programs at the NYU SPS Preston Robert Tisch Institute for Global Sport, discussed how sports entertainment is adapting to COVID-19. Kelly talked about the success of the recent virtual NFL Draft and the “NBA Together” campaign in response to the pandemic, as well as the impressive growth of sports-related gaming and eSports during this time.

April 23, 2020:

Maclean’s - In the Canadian current affairs magazine Maclean’s, David Hollander, clinical associate professor, at the NYU SPS Preston Robert Tisch Institute for Global Sport, takes a lighthearted look at how Nerf basketball can be the perfect shelter in place version of the sport, fueling our imagination and helping us to jettison beyond the confines of our current situation. Hollander said, “As long as there is Nerf basketball, there can be sports in the time of COVID-19.”

Christian Science Monitor - In a recent Christian Science Monitor story, Waheguru Pal Sidhu, clinical associate professor at the NYU School of Professional Studies (NYU SPS) Center for Global Affairs, joined the debate about the effect of COVID-19 on the global threat of nuclear proliferation. According to Sidhu, “The opportunity [for global unity] is there, but there’s also a risk of even more disunity,” depending upon how countries react to the pandemic.

April 22, 2020:

MedPage Today - On the online medical news platform MedPage Today, Lee Igel, clinical associate professor at the NYU SPS Preston Robert Tisch Institute for Global Sport, discussed the reasons why several professional athletes have recently undergone elective surgeries during the COVID-19 pandemic. Igel stated that it comes down to a question of lives and livelihoods. For athletes, agents, and teams, Igel noted, surgery can be perceived as essential because there’s a sense that athletes can’t go on [earn a living] without.

April 21, 2020:

Real Clear World - In a recent article in Real Clear World, Edward Goldberg, an adjunct assistant professor at the NYU SPS Center for Global Affairs, shared his view on the ways in which COVID-19 is upending long-established behaviors in global economics and politics, as well as its power to alter global perspectives for decades. Goldberg offered his take on the five challenges facing the world after the pandemic, including his thoughts on Chinese leadership, monetary policy, and the future of cities.

The Hill – In an opinion piece, which was published on TheHill.com, Michael Shank, an adjunct assistant professor at the NYU SPS Center for Global Affairs, and Carter Dillard, senior policy advisor at the Animal Legal Defense Fund, shared their views about the link between factory-farmed animals and COVID-19, and preventing the next pandemic. They discussed doubling-down on a global commitment to protecting our planet in order to avoid facing another significant health or climate crises that shuts down society, the economy, and more.

Newsday  - In a recent Newsday column, Vince Gennaro, associate dean of the NYU SPS Preston Robert Tisch Institute for Global Sport, shared his expert perspective on the possible sale of the New York Mets, in the current COVID-19 economy, to a group led by former MLB player Alex Rodriquez. According to Gennaro, despite the economy being in a “little bit of a gridlock,” it could be a different story in six to 12 months, giving potential investors a better view of the opportunities afforded by a purchase of the team.

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The Real Deal - In a recent article in The Real Deal, NYU SPS Schack Institute of Real Estate Associate Dean Sam Chandan shared his view that during the COVID-19 crisis, and with oil prices dipping below zero for the first time in history, sovereign wealth funds will be feeling the crunch in terms of real estate investment prospects.

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April 18, 2020:

Boston Globe – In a recent Boston Globe story, Vince Gennaro, associate dean, and David Hollander, clinical associate professor, at the NYU SPS Preston Robert Tisch Institute for Global Sport, share their perspectives on the economics of sports in a post-COVID-19 world. They discuss the return of sports, the redefining of the relationship between players and owners, future athlete contracts, the effect on attendance revenues, and the potential use of innovative media technologies to continue to engage fans in the future.

April 17, 2020:

Boston Globe – In a Boston Globe story, Vince Gennaro, associate dean, and David Hollander, clinical associate professor, at the NYU SPS Preston Robert Tisch Institute for Global Sport, discuss what the in-stadium experience for sports fans could potentially look like after COVID-19, including spectator interaction and movement at an event and concession and merchandise sales at a venue.

Forbes – In Forbes, Lee Igel, clinical associate professor at the NYU SPS Preston Robert Tisch Institute for Global Sport, and Arthur L. Caplan, a professor of bioethics at the NYU Grossman School of Medicine, make the case for the need for an independent Sports Health Advisory Council focused on the ethical and social questions surrounding live sports in the age of COVID-19. They state that changes resulting from the current pandemic will affect live sports and events for the next decade, and it is imperative that leagues have access to an independent body of knowledge and guidance, free of politics and centered on public health.

April 16, 2020:

The Real Deal - In a recent interview with The Real Deal's publisher, Amir Korangy, NYU SPS Schack Institute of Real Estate Associate Dean Sam Chandan shared his view that the COVID-19 pandemic is causing the future of real estate to arrive ahead of schedule. Among his predictions: Greater space between office workers. More working from home. Less business travel and fewer hotel rooms. And, most worrisome for places like New York City, perhaps a shift away from dense urban centers.

Bisnow - Sam Chandan, associate dean at the NYU SPS Schack Institute of Real Estate, in a recent Bisnow podcast, “Make Yourself At Home,” spoke about how shifts in the way we use space and interact in the city due to the COVID-19 pandemic may impact real estate assets and their values. He also discussed the real estate job market and how real estate professionals can stay productive during this time of isolation.

Variety Magazine – In a recent Variety Magazine story, Jane F. Karlin, adjunct associate professor at the NYU SPS George H. Heyman Jr. Center for Philanthropy and Fundraising shared her perspective on the surge in COVID-19-related donations from billionaire entrepreneurs and celebrities, as well as their effect on long-term, overall philanthropic activities.

April 15, 2020:

Just Security – In an article on Just Security, an NYU School of Law online forum, Andras Vamos-Goldman, visiting senior fellow and adjunct professor at the NYU SPS Center for Global Affairs, described the dearth of leadership in coping with COVID-19 and offered the solution of the UN Secretary-General (UNSG) stepping in to fill the void. This could be accomplished through the use of “good offices,” the Secretary-General’s more subtle powers, first employed by Dag Hammarskjold, who served as the second UNSG.

Commercial Property Executive – Richard Lambeck, a clinical associate professor at the NYU SPS Schack Institute of Real Estate, recently shared his views in a Commercial Property Executive article, regarding modular construction and the ways it can help to ease the hospital bed shortage during the COVID-19 pandemic. He cited a 500,000-square-foot hospital addition, built in Ohio in 2010 using modular construction, as a prime example.

April 14, 2020:

Vox - Tim Savage, a clinical assistant professor at the NYU SPS Schack Institute of Real Estate, was recently quoted in a Vox story titled "This Is The End of The Office As We Know It." Discussing COVID-19's impact on the demand for office space, Savage said, “As people are forced to work from home, personal space becomes an office. In a way, we’ve dramatically expanded the amount of office space we have.” 

April 7, 2020:

The Bond Buyer - On a podcast for The Bond Buyer, Lee Igel, clinical associate professor at the NYU SPS Preston Robert Tisch Institute for Global Sport, examined the economic, tangible, and psychological impacts of sports cancellations due to COVID-19, and its ripple-effect on society and local communities. Igel said that in the 21st Century, sports teams are tied, more than ever, into their local communities. He added that today, it is not just about the economic impact of sports, but the social impact and quality of life improvements that sports brings to a city.

Commercial Observer - In a recent news story in the Commercial Observer, Richard Lambeck, a clinical associate professor at the NYU SPS Schack Institute of Real Estate, discussed the effects of the construction shutdown caused by COVID-19 on the benefits and pay of union and non-union workers. “I think a lot of the smaller subcontractors are not going to survive this,” said the professor. “I don’t think the construction industry is going to come back full-strength right after this is over.”

Hotel Business - Sean Hennessey, a clinical assistant professor at the NYU SPS Jonathan M. Tisch Center of Hospitality, was extensively quoted in a recent cover story in Hotel Business, titled "Into the Unknown - COVID-19’s Short- and Long-Term Impact on the Hotel Industry." Hennessey said, “If this coronavirus shutdown continues for a period of time, it is going to cause significant erosion to the economic performance of the country, and that is going to impact the hotel business in a huge way.” 

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April 6, 2020:

The Real Deal – In a story in The Real Deal, Vince Gennaro, associate dean of the NYU SPS Preston Robert Tisch Institute for Global Sport, discusses the crushing effect that COVID-19 is having on New York event venues, leaving them with uncertain futures. Gennaro predicted sports would likely resume initially without fans, but it will be a while before venues attract crowds of the same size as before the pandemic. “I just don’t see those assets being used in the same way they were used three months ago anytime soon,” he added.

April 5, 2020:

Forbes – In an article posted on forbes.com, Lee Igel, clinical associate professor at the NYU SPS Preston Robert Tisch Institute for Global Sport, and Arthur L. Caplan, a professor of bioethics at the NYU Grossman School of Medicine, shared their view that public health realities – and the COVID-19 virus itself – will continue to block the way for sports fans to get back to cheering their teams at stadiums and arenas for the foreseeable future. They said that until at least, rapid, reliable, and widespread virus testing is available, athletes and fans will be left to watch only replays of their favorite big league sports.

April 3, 2020:

Front Office Sports – In Front Office Sports, Daniel G. Kelly II, academic director of the graduate programs at the NYU SPS Preston Robert Tisch Institute for Global Sport, discussed how in light of the current absence of live sports and the easing of US gambling regulations, esports investments and growing esports betting options will be a boon for the sports industry moving forward. According to Kelly, the global esports betting market is projected to grow to $30 billion this year. However, he believes that number could double with the momentum created by the COVID-16 outbreak.

April 2, 2020:

HRO Today – In an HRO Today article, Anna Tavis, academic director of the human capital management program and a clinical associate professor at the NYU SPS Division of Programs in Business, writes that focusing on employee experience (EX) is key to a quick business recovery post-COVID-19. According to Tavis, it is easy to dismiss EX during a crisis, but the loyalty, commitment, and dedication of employees has shown the highest returns for businesses when recovery is around the corner.

The New York Times – In a New York Times article, Lee Igel, clinical associate professor at the NYU SPS Preston Robert Tisch Institute for Global Sport, joins the debate about the decisions of some Major League Baseball players to have elective Tommy John arm surgery during the current strain on US medical resources caused by COVID-19. According to Igel, now is not the time for these surgeries as medical professionals and resources are needed to save lives during the virus crisis.

Meetings Today - In a recent Meetings Today article on inspiring industry efforts during the current COVID-19 pandemic, Recep Karaburum, a clinical assistant professor at the NYU SPS Jonathan M. Tisch Center of Hospitality, reported on the successful launch of the program’s “Masks for Shelters” initiative, a collaboration between Tisch Center students and professors to produce 1,000 masks for the homeless population at NYC’s Bowery Mission.

March 31, 2020:

The Hill – In an opinion article on TheHill.com, Carolyn Kissane, clinical professor and academic director of the MS in Global Affairs at the NYU SPS Center for Global Affairs, shared her perspective on Saudi Arabia’s new “do it alone” oil strategy during this period of historic destruction in global oil demand. According to Kissane, as we experience the COVID-19 demand downturn and Saudi Arabia’s price wars with Russia and others, the Saudis have decided that they are willing to act as the lone decision-maker when it comes to price and production.

March 27, 2020:

China Global Television Network (CGTN) - Daniel G. Kelly II, academic director of graduate programs at the NYU SPS Preston Robert Tisch Institute for Global Sport, explores the economic implications of the recent postponement of the 2020 Tokyo Summer Olympics Games with the Chinese Global Television Network (CGTN). According to Kelly, the economic impact of the Games delay for Japan is currently leaning toward $6 billion and he expects the country’s tourism industry to experience a potential $2.43 billion hit as a result. Watch his interview:

Forbes – In their recent Forbes article, Lee Igel, clinical associate professor at the NYU SPS Preston Robert Tisch Institute for Global Sport, and Arthur L. Caplan, a professor of bioethics at the NYU Grossman School of Medicine, share their perspectives on the connection between Italy’s rapid and massive outbreak of COVID-19 and a UEFA Champions League soccer match in Milan, Italy, earlier this year. According to these experts, as much as we want sports and our lives to get back to normal, doing it too soon carries a potential horrible price – a world of endless pandemic.

March 25, 2020:

The Washington Post - In a recent story in The Washington Post, Brendan Parent, director of the NYU SPS Sports and Society program, commented on the responsibility of sports owners towards their employees during this crisis. He said, "The overarching ethical duty is the same for these CEOs/Owners as it is for restaurants, retail, etc., which is, if you have the capacity to take care of your own, do so to the greatest extent of your ability.”

 

March 23, 2020:

The Real Deal – In The Real Deal, Sam Chandan, Larry & Klara Silverstein Chair in Real Estate Development & Investment, and associate dean of the NYU SPS Schack Institute of Real Estate, discusses how the uncertainty of the current COVID-19 pandemic has not only seeped into the overall economy, but into the private real estate investment market as well. According to Chandan, the current situation has not put into question the attractiveness of real estate as an asset class in general. He feels this severe and abrupt shock to the economy is impacting all asset classes and investors, and has shaken investor confidence.

Zpryme Insights Blog – In a post for energy research firm Zpryme’s Insights blog, Carolyn Kissane, clinical professor and academic director of the MS in Global Affairs offered by the NYU SPS Center for Global Affairs, shared her perspective on the effects that COVID-19 and the ever-changing geopolitical landscape are having on the current energy markets. According to Kissane, “The world started 2020 awash in oil, and with the COVID-driven collapse in demand, there’s nothing to support higher prices without a concerted decision to reign in production.”

March 21, 2020:

Forbes - Even though no wants to reschedule the 2020 Tokyo Olympic Games, Lee Igel, clinical associate professor at the NYU SPS Preston Robert Tisch Institute for Global Sport, makes the case for holding off the start of the Games in a recent Forbes article. “It is time to do the right thing. Knowing what we know, there is only one right response: postpone the 2020 Summer Olympics,” said Igel.

March 19, 2020:

Forbes – In his Forbes article, Lee Igel, clinical associate professor at the NYU SPS Preston Robert Tisch Institute for Global Sport, shares examples of how influential figures in sports business are counterpunching the impact of COVID-19 with social responsibility efforts that are strengthening workers, customers, and communities. According to Igel, today’s leaders of sports organizations are exemplifying  the important role that sports and sports business plays in improving society.

March 18, 2020:

Crain's New York Business - In a Crain's New York Business story, Sean Hennessey, clinical assistant professor at the NYU SPS Jonathan M. Tisch Center of Hospitality, discussed the free fall in the hotel industry. “If the annualized occupancy number for the hotel market sinks to 70% or below, it would be the worst metrics we’ve ever seen,”

March 17, 2020:

Multi-Housing News (MHN) – Sam Chandan, Larry & Klara Silverstein Chair in Real Estate Development & Investment, and associate dean of the NYU SPS Schack Institute of Real Estate, was featured  in an MHN story, "What Property Managers Should Be Doing Right Now,” and shared his perspective that of all the impacts of the coronavirus to the real estate industry, perhaps the most immediate has been to operations. “Probably where we’ve seen the more significant impact in response is in building operations, whether it’s multifamily or office buildings,” said Chandan, adding that industry members should be particularly mindful of “operationally intensive” properties like hotels and senior housing.

New York Post - In a recent New York Post story, Sean Hennessey, clinical assistant professor at the NYU SPS Jonathan M. Tisch Center of Hospitality, commented on the unprecedented closures of major hotels due to the coronavirus. He noted that NYC hotel occupancy rates post-9/11 dropped to a low of 74 percent, and to 79 percent after Lehman Brothers collapsed in 2008. “Some hoteliers are running 5 percent occupancies over the past week,” Hennessey said.

March 16, 2020:

The Points Guy – In a recent The Points Guy story, Sean Hennessey, clinical assistant professor, NYU SPS Jonathan M. Tisch Center of Hospitality, discussed how US hotel occupancy and revenues have been plunging since the beginning of March, as a result of the effects of the coronavirus. Hennessey also states that hotels are experiencing sizable jumps in cancellations for both individual reservations and group events this month.

March 13, 2020:

The Wall St. Journal (WSJ) -  Sean Hennessey, clinical assistant professor at the NYU SPS Jonathan M. Tisch Center of Hospitality, is quoted in this recent WSJ article, "Hotels Turn to Layoffs, Room Rate Cuts as Business Staggers.” According to Hennessey, hotel rooms in the popular Times Square neighborhood that in previous years at this time would go for $200 to $300 a night could be had for as little as $60.

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March 12, 2020:

CNN Business – In a story for CNN Business on the serious blow that the halted NBA season is to the league’s television partners, Lee Igel, clinical associate professor at the NYU SPS Preston Robert Tisch Institute for Global Sport, states that the suspension means everything from a media business point of view, and impacts the networks in two ways. Primarily it impacts the direct broadcasting of the games themselves, but also the broadcasting of the NBA as a ‘media product’ for the TV partners’ studio shows.

Adweek – In an Adweek story on the effects of COVID-19 on the cruise industry, Nicolas Graf, associate dean at the NYU SPS Jonathan M. Tisch Center of Hospitality, sees the cruise industry being impacted in the short to medium term, noting that those who routinely cruise will return. According to Graf, the industry needs to pause operations and cancel cruises to limit the damage.

 

March 10, 2020:

VICE – For the media outlet VICE, Lee Igel, clinical associate professor at the NYU SPS Preston Robert Tisch Institute for Global Sport, discussed how the coronavirus is affecting sports, and what could happen with sports seasons and scheduled games in the next several months, as a result. He shared his perspective that with the outbreak comes a lot of uncertainty about what comes next, similar to the time after 9/11. He added that as you continue to see more and more schools, academic institutions, and businesses operating remotely during this crisis, sports will follow suit. 

March 9, 2020:

Forbes – In Forbes, Lee Igel, clinical associate professor at the NYU SPS Preston Robert Tisch Institute for Global Sport, and Arthur L. Caplan, a professor of bioethics at the NYU Grossman School of Medicine, share their perspectives on what professional sports, youth sports, and esports need to do to manage the coronavirus outbreak to help protect the lives of its athletes and fans.  

China Global Television Network (CGTN) - On the Chinese Global Television Network (CGTN), Daniel G. Kelly II, academic director of graduate programs at the NYU SPS Preston Robert Tisch Institute for Global Sport, discussed the impact of the COVID-19 virus on the sports industry. Kelly talked about the possible implications for the Tokyo Olympics and college basketball’s March Madness, how leagues and teams are handling the outbreak, and why a top concern for sports organizations will be the reduced or lack of direct engagement with the fans, as of result of coronavirus.  

March 5, 2020:

Forbes - In this article, Lee Igel, clinical associate professor at the NYU SPS Preston Robert Tisch Institute for Global Sport, and Arthur L. Caplan, a professor of bioethics at the NYU Grossman School of Medicine, explore whether or not it is too soon to decide about cancelling or postponing this year’s Tokyo Olympics due to the coronavirus outbreak.  

March 4, 2020:

CNBC - In an interview with Tyler Mathisen of CNBC, Lee Igel, clinical associate professor at the NYU SPS Preston Robert Tisch Institute for Global Sport, discussed the economic and social impact of the coronavirus outbreak on global sporting events, and the precautions leagues and teams are taking around the world.

March 3, 2020:

Hospitality Net – In an opinion piece "Does Your Property Have A Coronavirus Strategy?,” Max Starkov, an adjunct professor at the NYU SPS Jonathan M. Tisch Center of Hospitality, shared his perspective that hoteliers should develop and implement a crystal-clear coronavirus strategy. His suggestions include mandating a “single voice policy” for all employees and departments so that the property delivers consistent messaging regarding the coronavirus; providing honest and up-to-date information regarding the situation in the hotel location/destination; and clearly presenting the property's coronavirus prevention program on the hotel website, via social media, and at the front desk.