Most Polish hotels face liquidity problems - study
Up to 84 percent of Polish hotels are facing problems with maintaining liquidity as they battle coronavirus restrictions, a hotel organisation study shows.
An equal percentage of hotels also do not expect to post an operating profit before the end of 2022, according to a survey run by the Chamber of Commerce of the Polish Hotel Industry (IGHP).
As many as 97 percent of the surveyed hotels expect a return to their 2018-19 sales level no sooner than in 2022.
According to the IGHP, the already miserable operational results of hotels took another hit in December.
"Most significant is that the number of closed hotels increased to 20 percent,” the IGHP said. “As for open facilities, 84 percent of them saw an average occupancy rate below 20 percent, while for 62 percent of them it was below 10 percent. Only one in 20 hotels saw an occupancy rate at 30 percent or above."
The average price index remained at the same low level as in November. Some 79 percent of hotels recorded lower prices than in December 2019, while the discounts were greater than 10 percent for 63 percent of the facilities. At the same time, 18 percent of hotels maintained average prices that were close to the previous year.
IGHP carried out the online survey of 396 hotels across Poland on January 11-14, 2021.