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Is a wave of (hotel) bankruptcies looming in the mountains?

The answer at the moment is simply "no." But the longer the economic crisis due to the Corona pandemic lasts, the more dangerous the situation becomes, even in well-visited regions and hotels. Therefore, there is an increasing risk that hotels in ski resorts will go bankrupt and guests will be faced with closed gates upon arrival.

Zermatt, St. Moritz, Gstaad and what they are all called. The many well-known winter resorts in the Swiss Alpine regions are equipped with an accommodation culture that leaves hardly anything to be desired. But what happens to all these beautiful hotels and their restaurants if a large proportion of the guests stay away? The bad figures of the economic research center KOF of the ETH Zurich concerning this year's winter tourism sound dramatic on the one hand, but in the present reality there are no effects yet, but there is a danger that certain horror scenarios will come true. In its media release of 27.10.2020, KOF paints a bleak picture for the future. "KOF expects around a third fewer European guests to visit Switzerland in the winter season than in the previous year. Tourists from distant markets will largely be absent. Overall, overnight stays are likely to fall by 30% this winter. For the entire tourism year 2020, the industry must expect a loss of over 10 billion francs," writes the KOF. KOF further comments as follows: "Domestic guests will continue to be a pillar for tourism. The number of overnight stays in the coming winter season is likely to be around 8% above the pre-crisis level. In total, overnight stays are expected to decline by 30%. However, it cannot be ruled out that the pandemic will return with much greater force in the fall and winter and last longer than currently assumed. In such a negative scenario, there will be a stronger decline in European demand and a sensitive impact on domestic demand in the winter months. In this scenario, overnight stays are likely to be more than 50% below pre-crisis levels in the coming winter season." This makes it clear how difficult it is to make a forecast at all at present and how great the threat to winter tourism is this winter.

The crisis has arrived
In the fall, it became clear for the first time that the worldwide crisis in the travel industry had also reached Swiss hotels after it became known that the Swissôtel**** in Zurich-Örlikon, the highest 4-star superior hotel in Switzerland, as well as the renowned Hotel Ascot**** in Zurich's noble Enge district would have to close. There was still talk of 5% occupancy in the summer at the Hotel Ascot, so the hotel simply could not be saved, which subsequently went bankrupt.

....Do you want to read on? Then order the printed edition of Sportguide Winter 2/2020!

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