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“We have to choose whether to pay bills or salaries.” Bocca, president of Federalberghi 

By Monday, 17 October 2022 09:33
Bernabò Bocca Federalberghi Bernabò Bocca

"We were coming from two years of closures, any liquidity made by hotels went to cover the costs of the previous two years and of taxes like IMU that were also present during the closure. Now we are about to enter the low season and the music is changing because revenues are not sufficient to cover the increase in energy costs. We are energy-intensive businesses, and bills have increased by 600% over 2019. When there are sufficient revenues it is fine, while there will be no profitswe can go on. But today we are having to choose between paying bills or salaries.” 

A positive summer with the return of American visitors

Bernabò Bocca, president of Federalberghi, the Italian hotels’ federation was speaking at the Il Sole 24 Ore and Financial Times’s Made in Italy Summit. "We have had a positive summer season, thanks to the influx of foreign visitors, for example from the US. We were worried about the lack of Russian and Chinese arrivals, but the Americans came in large numbers. This is why the GDP is higher than in other European countries. The GDP growth is mainly due to tourism.”

“We would like to see a ministry for sport, tourism and major events”

“The situation is complex. We are forced to ask the banks for loans, but the rates today are not what they used to be. We are entering a vicious circle that will lead to the closure of many hotels. Many of them will not make it through the low season and will only reopen for the 2023 high season. It will also be a problem for the supply chain which absorbs 60% of tourist spending. With the formation of the new government we would very much like to see a Ministry for sport, tourism and major events."  

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