Office building vacancies remain elevated, especially in coastal cities. Lenders worry about developers’ ability to pay back their debt.

In a note to employees, CEO Bob Iger said, “in a creative business like ours, nothing can replace the the ability to connect, observe and create with peers.”

Office occupancy remains low in cities like New York and San Francisco, while places like Columbus, Ohio, are nearly back to pre-pandemic levels.

Restaurants, hotels and even retail outlets have grabbed a business opportunity to attract remote workers with their space.