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In Switzerland, tourism is an important sector of the economy that is constantly evolving
Did you know that tourism in Switzerland generated CHF 19.5 billion in revenue in 2019. The hotel industry accounted for CHF 4.5 billion revenue and was among the fastest growing economic sectors worldwide until 2020.
To continue to develop and grow, tourism invests in promotions, constructions, and transportation. These investments are a benefit that strengthens the Swiss economy, which leads to a substantial financing requirement for this sector.
Accommodation, transportation, and leisure facilities are the areas in which the most investments are made to develop tourism
The tourism investments correspond to:
• Investments in accommodation which are 10,3% and are mainly made in the tourist municipalities
• Facilities related to transportation are in second place with 7,3%
• Leisure and cultural facilities represent investments of 5,7%
To understand the relationship between financing and accommodation, we interviewed members of the Competence center for Swiss hotel promotion. According to them, in Switzerland, investments to hotels and restaurants corresponded to about CHF 1 bn, a constant annual number until the COVID-19 crisis. In contrast, in 2020, the company co-financed investment amounts corresponding to the year 2018 and 2019, so it would seem that there was only a small impact on the level of investment following COVID-19, noting that among the projects financed in 2020, some are meant to be completed in 2022 and 2023.
Currently, the occupancy rate in accommodation expected for the winter season will be higher than the previous year but lower than before the crisis
According to HotellerieSuisse, association in the hospitality industry, the accommodation sector is recovering nicely with rather positive forecasts for the coming season. This will depend mainly on the restrictions linked to the Pandemic. Investments in this sector have fallen since the crisis. Despite this, the curve is rising, but for the moment remains lower than before the crisis.
A significant need for financing in the hotel sector
In addition to the large investments that the hotel sector has, since the pandemic, many hotels are taking out loans. According to a questionnaire from HotellerieSuisse, 60% of respondents have taken out a Covid loan, mainly in the alpine regions.
As a Trusted Consultant of HotellerieSuisse, PrestaFlex participates in the development of the hospitality industry, mainly by providing customized and flexible financing solutions to member hotels. But not only! PrestaFlex has already financed many hotels and restaurants and is committed, thanks to its expertise, to assist any business in need of financing.
PrestaFlex financed an operating loan of CHF 100'000 to a hotel affected by Covid-19 in Neuchâtel
The hotel and restaurant industry has been strongly supported by the government. This state support was not sufficient to guarantee enough working capital. In addition to this, since the beginning of the Covid-19 crisis, traditional banks have made it difficult to a good number of sectors, including the hotel industry to obtain a credit. Not surprisingly, facing all these complications, our customer approached us for an operating credit and obtained a positive answer in only 5 days.
In addition to obtaining the exact amount requested, i.e., CHF 100'000, our client benefited from a medium-term repayment for a period of 3 years, which will allow to increase margins, optimize liquidity, and manage profit more quickly. If our client wishes to make an early repayment, no problem! No penalty will be imposed. The flexibility of the loan conditions is possible thanks to the +40 partners of PrestaFlex.
We are pleased to have been able to support the hospitality industry once again.
Click here to learn more about working capital financing
Authors : Gabriel Oberson, financing consultant at PrestaFlex & Arij Kamel marketing trainee at PrestaFlex, Fribourg
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In Switzerland, tourism is an important sector of the economy that is constantly evolving
Did you know that tourism in Switzerland generated CHF 19.5 billion in revenue in 2019. The hotel industry accounted for CHF 4.5 billion revenue and was among the fastest growing economic sectors worldwide until 2020.
To continue to develop and grow, tourism invests in promotions, constructions, and transportation. These investments are a benefit that strengthens the Swiss economy, which leads to a substantial financing requirement for this sector.
Accommodation, transportation, and leisure facilities are the areas in which the most investments are made to develop tourism
The tourism investments correspond to:
• Investments in accommodation which are 10,3% and are mainly made in the tourist municipalities
• Facilities related to transportation are in second place with 7,3%
• Leisure and cultural facilities represent investments of 5,7%
To understand the relationship between financing and accommodation, we interviewed members of the Competence center for Swiss hotel promotion. According to them, in Switzerland, investments to hotels and restaurants corresponded to about CHF 1 bn, a constant annual number until the COVID-19 crisis. In contrast, in 2020, the company co-financed investment amounts corresponding to the year 2018 and 2019, so it would seem that there was only a small impact on the level of investment following COVID-19, noting that among the projects financed in 2020, some are meant to be completed in 2022 and 2023.
Currently, the occupancy rate in accommodation expected for the winter season will be higher than the previous year but lower than before the crisis
According to HotellerieSuisse, association in the hospitality industry, the accommodation sector is recovering nicely with rather positive forecasts for the coming season. This will depend mainly on the restrictions linked to the Pandemic. Investments in this sector have fallen since the crisis. Despite this, the curve is rising, but for the moment remains lower than before the crisis.
A significant need for financing in the hotel sector
In addition to the large investments that the hotel sector has, since the pandemic, many hotels are taking out loans. According to a questionnaire from HotellerieSuisse, 60% of respondents have taken out a Covid loan, mainly in the alpine regions.
As a Trusted Consultant of HotellerieSuisse, PrestaFlex participates in the development of the hospitality industry, mainly by providing customized and flexible financing solutions to member hotels. But not only! PrestaFlex has already financed many hotels and restaurants and is committed, thanks to its expertise, to assist any business in need of financing.
PrestaFlex financed an operating loan of CHF 100’000 to a hotel affected by Covid-19 in Neuchâtel
The hotel and restaurant industry has been strongly supported by the government. This state support was not sufficient to guarantee enough working capital. In addition to this, since the beginning of the Covid-19 crisis, traditional banks have made it difficult to a good number of sectors, including the hotel industry to obtain a credit. Not surprisingly, facing all these complications, our customer approached us for an operating credit and obtained a positive answer in only 5 days.
In addition to obtaining the exact amount requested, i.e., CHF 100’000, our client benefited from a medium-term repayment for a period of 3 years, which will allow to increase margins, optimize liquidity, and manage profit more quickly. If our client wishes to make an early repayment, no problem! No penalty will be imposed. The flexibility of the loan conditions is possible thanks to the +40 partners of PrestaFlex.
We are pleased to have been able to support the hospitality industry once again.
Click here to learn more about working capital financing
Authors : Gabriel Oberson, financing consultant at PrestaFlex & Arij Kamel marketing trainee at PrestaFlex, Fribourg
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