Petter Stordalen, Hotels | Stordalen:

On Monday, Norges Bank hosted a digital theme day on, among other things, challenges for the tourism industry and commercial real estate.

Hotel king Petter A. Stordalen and DNB analyst Simen Mortensen were invited to speak on the prospects for the hotel industry. And Stordalen was very clear in his assessments of the situation in the industry.

Also read: Horror Figures for Stordalen and Thon: – It’s a complete disaster

Black night

– It has been completely dark in November, and it will be until you relax. We immediately see that Sweden came to a complete halt after Prime Minister Stefan Löfven’s speech on Sunday.

– On a normal day in November, we may have a turnover of NOK 50 million, while now we have a turnover of NOK 10 million. It’s completely unlikely right now, as he would have said in Porsgrunn, Stordalen said in a conversation with Mortensen and communications director Bård Molberg at Norges Bank.

However, Stordalen was optimistic about future vaccination capacity, based on forecasts this spring.

– Is there anything you have “push notification” on? It’s news about vaccines.

– What is happening is a rough miracle compared to what was said a few months ago, Stordalen said about the production of the vaccine. He believes that there will be vaccination of vulnerable groups in the first quarter of next year.

The worst wave of all

But when asked how much longer the industry can take, he replied:

– It is not in the first part of the crisis that bankruptcies come, then you have some capital to consume. So we have received deferrals of various types, taxes and fees. I don’t see a wave of bankruptcies this side of the New Year, but in 2021, then we will see a wave of bankruptcies that we have never seen in history.

But Stordalen believes that all the companies in which he participates will overcome the crisis, although 2021 will be a great challenge.

– Yes, it will cost, but we know that we can do it and that we will recover as many laid off employees as possible.

– We have a fantastic culture and we had a solid economy at the beginning of the crisis. Without culture, we would not be sitting here today. It is a bold culture, unique and the most important thing to overcome this crisis. As an employer, you couldn’t dream of having such employees, Stordalen boasted.

The billionaire also visited life after the corona pandemic and if things would return to normal.

Also read: Petter Stordalen and the Swedish top rider have become a couple

Drittlei

– The party is over, many are “shitty” to have a home office. They are tired of not being able to introduce themselves and meet people, and it is naive to think that companies can be built through the Google Hangout.

– It is a great loss to meet and to be able to return home. I think the first thing that comes back is that you need to travel to a place, travel south, meet in social groups. Holidays and leisure return very quickly, while within conferences there is a great pent-up need.

A Ving poll shows that the first thing you want to do when this “shit” ends is travel after visiting family.

Stordalen believes that international business trips take longer before they return to normal. However, he is convinced that the tourism industry will continue, even if they now experience a “decline”.

– There is no one who has the fasit, but most likely it will end a lot when we approach summer. I have never been as optimistic as I am now, but it will be some time before we are fully back.

Also read: Modern vaccine has a great advantage

Liquidity

The hotel owner believes that very few hotels will be built in the next five years and that banks will be very restrictive.

– But I think the banks have been sensible and understanding. Crises are about liquidity to get through, he said about the support of banks.

– You must leave early, honest, open and realistic with the banks about how it looks. So far, we have not needed the additional credits that we obtained in an initial stage. At the same time, I know that we will need them for some time in 2021, Stordalen said of the liquidity situation.

Also read: Petter Stordalen’s great pain: – A surprise for everyone

The most demanding

– The most challenging thing in a crisis of this kind, the biggest and most demanding thing to get involved in, is that it involves people. Firing and firing 7,500 employees is a completely unimaginable situation, said a clearly committed hotel and tourism owner.

He does not feel sorry for himself, who has the ultimate responsibility, responsibility, but for all employees.

– This industry is extremely important for Norway, Hurtigruten and Choice, we had to hire many thousands of jobs in the next few years. It’s obvious to me that you have the same respect for these companies and employees as you do for the industry.

Stordalen recently wrote an article in a Swedish newspaper about how tough the industry was.

– I save a lot of psychiatric expenses every time I write something, because then all the online trolls get an outlet for their anger. I say what I want to say, but actually I got a lot of positive feedback on it, he said.

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