Swiss hotel association says Covid-19 loans should be waived
The authorities should write off Covid-19 loans in hardship cases and short-time work arrangements should be extended to help the ailing Swiss hotel industry, says the country’s largest hotel association.
This content was published on
2 minutes
Keystone-SDA/sb
Hotellerie SchweizExternal link said on Monday that additional measures were needed to help the hotel sector, which has been badly hit by the Covid-19 pandemic.
It reported that the average occupancy rate of Swiss hotels stood at 15% in May across the country. The rate is expected to rise to 23% for June-August in cities and 43% in popular tourist regions. However, domestic demand will not make up for the lack of foreign guests, the association said.
Further measures and a clear roadmap were needed to ensure liquidity and investment opportunities for hotels and to help initiate a recovery, it wrote.
The association, which represents 3,000 members, said that in cases of severe hardship Covid loans should be waived. It added that short-time working arrangements for the hotel industry should be extended from 12 to 18 months.
Short-time working
Large numbers of Swiss companies affected by the pandemic have seen an alarming drop in revenue and have resorted to short-time workingExternal link to avoid redundancies. Around two-thirds of Swiss hotels applied for Covid loans, and 96% have resorted to short-time work.
Thanks to short-time work, Covid loans and easing measures, the situation has eased for some establishments, the association said. Two months ago, one in ten hotels said there was a 60% chance of them going bankrupt; in June this figure was around 3% of hotels.
Tourism is one of Switzerland’s biggest industries, generating around 3% of gross domestic product (GDP). It employs some 170,000 people. The hotel industry alone generates CHF8.1 billion ($8.6 billion) in turnover each year and employs 63,000 people in Switzerland.
University students in Switzerland join Gaza protest wave
This content was published on
Pro-Palestinian activists occupied university buildings in Lausanne, Geneva and Zurich on Tuesday, widening the protest movement in the Alpine nation.
TradeXBank to resume full operations after Sberbank Switzerland taken off sanctions list
This content was published on
TradeXBank, the former Swiss branch of Russia’s Sberbank, will be able to resume its dollar-denominated activities from the second half of this year.
Geneva decides not to remove controversial memorials
This content was published on
The city of Geneva has presented an action plan regarding a series of controversial local statues and monuments of historical figures linked to racism, colonialism or slavery.
University of Lausanne calls for end to pro-Palestine sit-in
This content was published on
The pro-Palestinian occupation continues at the University of Lausanne (UNIL). On Monday evening, a group of students refused to agree to the deadline set by the rectorate.
Ukraine peace conference should include Russia, says Chinese ambassador
This content was published on
China supports a peace conference on the Ukraine war that would see equal participation of all parties, says Chinese Ambassador to Russia Zhang Hanhui.
This content was published on
A majority of Swiss citizens have open attitudes towards various infertility treatments, including even egg donation, which is currently prohibited.
Reports of Swiss cyber fraud almost doubled in six months
This content was published on
The head of the new Federal Office for Cybersecurity (FOC), Florian Schütz, has presented a new strategy after just over four months in office.
Geneva hotel sector feels devastating impact of Covid-19
This content was published on
The coronavirus pandemic has wreaked havoc in Geneva’s hotel sector, which relies heavily on international visitors and conferences.
Pandemic pushes more Swiss businesses to short-time working
This content was published on
In order to avoid mass lay-offs, Swiss firms are resorting to a measure that has proved its worth in times of crisis: short-time working. What is it?
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.