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Tourism Managers: In just six months, some chains of hotels will go bankrupt

“ At least 5 chains of hotels will go bankrupt in the next six months “

say almost 40% from the managers of the tourism firms, according to a global study effectuated by the law firm, DLA Piper, cited by Newsin.

“80% from the questioned foresee at least one bankruptcy in the time that we are speaking.“

According to the DLA Piper study, “2009 Europe Hospitality Outlook Report”, the directors from the European hotelier market are not as optimistic as their American colleagues.

Only 39 % from the European executives are expecting the rehabilitation of the industry sector in 2010, compared to 59% in the United States. The majority of the European executives foresee the beginning of the rehabilitation to be in 2011.

Nonetheless, there still are opportunities for rich investors, 8 from the 10 respondents admitted that the market offers good buying opportunities, the economical sector being the best choice. On a long term, the majority from the interviewed anticipates a tendency to focus the subventions for the long lasting development of the hotels.

“ Considering the actual economical climate, it isn’t a bit surprising that the majority of the hotelier executives from Europe consider that this industry has a precarious situation “

said Marian Dinu, the manager of DLA Piper Romania.

“ Even though the effects of the global economical situation can be also felt locally, I am convinced that, on a medium term, the investments in the Romanian hotelier industry will raise the bid, considering the more and more accelerated absorption of the European founds and the convergence of Romania’s tourist’s sector towards its real potential “

said Mihai Dinu.

DLA Piper is an international lawyer’s firm, with more than 3700 lawyers from 28 countries.

Source: www.dailybusiness.ro

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