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The second wave of the corona pandemic hit the Swiss hotel industry hard: a wave of layoffs is in full swing, especially among hotel companies in cities.
Forecasts for the winter season are alarming, according to a survey released Tuesday by the Hotelleriesuisse industry association. All areas would expect a decline in business compared to the previous year, although assessments for the coming months have deteriorated significantly since the last survey in September 2020.
Completions in more than 50 percent of urban hotels
According to the association, there will be more layoffs as a result. More than a third of those surveyed will have to resign in the coming months, it is said. There would be three times more layoffs in the city’s hotel industry than in the Alpine areas (53 percent versus 18 percent) and almost twice as many as in rural areas.
Overall, 77 percent of those surveyed expect to have to use a part-time job. This proportion has increased by eleven percentage points since the last survey in September. In the city’s hotel business, 88 percent of companies reported using this measure.
Increases the risk of a bankruptcy wave
The dramatic situation also has an impact on prices: 66 percent of urban hotels will be forced to adjust their prices downwards in the coming months, while 21 percent of hotels are located in alpine areas. This is due, among other things, to the low occupancy rate due to the lack of external demand and the total collapse of business tourism.
In light of this development, the risk of a wave of bankruptcies in the industry has increased. By the end of November, eight percent already expected such a high bankruptcy risk, compared with six percent in September. While this value in the city’s hotel industry has dropped slightly compared to September (from eleven percent to nine percent), the proportion of those who estimate their bankruptcy risk is greater than 40 percent (plus 18 percent). percent) has increased dramatically by 27 percent.
Demand for a guaranteed zero interest rate for Covid loans
Businesses see emergency aid and a guaranteed zero interest rate for Covid loans as the most urgent measures against bankruptcy in the coming months. More than half of the companies that have already applied for a Covid 19 loan would apply again (53 percent). The proportion is significantly higher in the city’s hotel industry (64 percent).
The survey was carried out from November 17 to 20, 2020 among about 450 members of the association. (SDA)
