Paris fears a hotel crash

These are not administrative closures but closures due to lack of customers who, as months go by, bring the Parisian hotel industry to its knees. “We ended the year with a drop in visitors, tourists and business travelers, of around 75%”, says Corinne Menegaux, director general of the Paris Tourist and Congress Office. Result: “The major groups in the sector are anticipating layoffs plans and are talking about cutting more than 20% of their payroll in Paris by March”, points a professional to take the measure of the disaster to come.

The thousand family or independent establishments represent nearly two thirds of the local market and half of the rooms, a particularity of the capital in the world. For them, the use of aid, partial unemployment, loan guaranteed by the State, Rebond loan and solidarity fund, will not be enough to save the day.

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