Hotel Industry: A Wave of Bankruptcies Remains Possible in Switzerland

Benoît Perrier | June 23, 2021

With a 40% drop in the number of overnight stays in 2020, the Swiss hotel sector is on the verge of suffocation. An exceptional season this summer, however, could limit the damage. By Benoît Perrier   Hotels on pause The phone rings desperately in the void. Since September 2020, employees of Hotel Le Richemond have been sent home. The health crisis got the better of the 5-star hotel and its 150 years of history of the Geneva institution. Management had no choice but to put hotel activity on hold until further notice. This dramatic situation is far from being an isolated case. In Lausanne, the Royal Savoy has been at forced rest si...