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Hoteliers Warn of Losses of €124 Billion if Closures Continue until December

24 April 2020 – Brainsre.news

The progressive opening of the sector by December would result in losses of €124 billion. In that case, the recovery of the industry would not arrive until the first four months of next year.

Spanish hoteliers are warning that keeping their establishments closed until the end of the year is “inconceivable ” and that this would mean a loss of competitiveness for the sector. “In Spain, the progressive opening of the sector by December would result in losses of €124 billion. That would be devastating for the sector,” explained Gabriel Escarrer, CEO of Meliá, according to Expansión.

For Escarrer, this scenario assumes that the recovery of the industry would not come until the first four months of next year, meaning it may “lose out” on Christmas 2020 and Easter 2021, both key dates in the hotel industry.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake