I work in purchasing for a very large convention center, one of the largest in the nation in fact. I can tell you that our bookings and food/beverage sales are on track for a 30-40% drop in 2019-2020, and that's providing no cancellations or changes, which to my recollection has never happened.
What I find so hard to believe is the complete lockdown on information such as this, combined with some sort of unwritten law among employees to say nothing, out of fear. Whether it's fear that somehow speaking about it will magically make it worse, or fear of losing a job, it is definitely fear.
The level of denial and intentional, determined effort to pretend what's happening is not happening is something out of a sci-fi movie. And those working for corporations like Coca-Cola surely know this too, and I bet the same mass psychosis is going on there as well.
And if this downturn is happening with us, you can bet it's happening everywhere, at all hospitality venues, whether they admit it or not. And I bet most would vehemently deny it, as if that changes anything.