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Hoteliers ask the state to defend them in Brussels

2021-01-10T22:25:46.214Z


Faced with the specter of a slow recovery of the market, they demand the intervention of the ECB. Two swords of Damocles are suspended above the heads of the hoteliers. Because of the Covid, they have been living a nightmare for months. The state did not force them to close. Simply, with the closure of restaurants and the cessation of tourism, demand has collapsed, forcing them to shut down their establishments too. In March, they will have to resume the repayment of their bank loans, which t


Two swords of Damocles are suspended above the heads of the hoteliers.

Because of the Covid, they have been living a nightmare for months.

The state did not force them to close.

Simply, with the closure of restaurants and the cessation of tourism, demand has collapsed, forcing them to shut down their establishments too.

In March, they will have to resume the repayment of their bank loans, which the institutions had agreed to postpone a year ago.

Indeed, most of the owners of hotel business premises and funds are heavily in debt: on average, 30% of their turnover is used to repay debts.

Without activity, this is no longer possible.

If left unchecked, many businesses will end up in default.

Read also:

State support does not allay the anguish and anger of hoteliers

Mobilized, Bruno Le Maire, the Minister of the Economy, is to discuss the subject on Tuesday with the French Banking Federation.

"We must quickly find a solution, otherwise many hotel groups risk the deposit

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Source: lefigaro

All business articles on 2021-01-10

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