The rapidly escalating restrictions on travel and social gatherings will make it hard for New York City hotel owners to keep creditors at bay, the head of a local trade group said.

Revenue per available room, a metric known as RevPar that combines occupancy and pricing, is down as much as 70% at some hotels, according to Vijay Dandapani, chief executive officer at the Hotel Association of New York City.

The virus outbreak has slowed travel globally and a new federal ban on inbound travelers from Europe will hit New York’s lodging business particularly hard. About one-third of overseas visitors to the city comes from European countries, according to tourism data published by Baruch College.