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Coronavirus: hotel owners suffer much more than franchisors

2020-05-22T18:17:12.647Z

Even if they benefit from state aid, they face incompressible operating costs.Despite government support, the French hotel industry falters. Under the infusion of aid, the industry made massive use of short-time working and state guaranteed loans (PGE). To support tourism, the government has decided to extend certain measures until the end of 2020 (partial unemployment), or to adapt them (PGE, local tax rebates). However, these measures will eventually stop, and it will one...



Despite government support, the French hotel industry falters. Under the infusion of aid, the industry made massive use of short-time working and state guaranteed loans (PGE). To support tourism, the government has decided to extend certain measures until the end of 2020 (partial unemployment), or to adapt them (PGE, local tax rebates). However, these measures will eventually stop, and it will one day have to repay the money borrowed…

Read also: The hotel starts up again, step by step

In this new context, owners of goodwill (and walls) suffer much more than franchisors and operating companies (like Accor), which in general have fewer charges and less debt. "I borrowed 22 million euros in the form of loans guaranteed by the State," says Jean-Bernard Falco, president of Paris Inn (25 hotels owned by walls and funds and 5 by rental, under the brands Holiday Inn, Best Western and Maison Albar). This year, sales will drop by at least 40%. Like almost

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Source: lefigaro

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