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English Section

Polish hospitality sector in debt, but business booming: report

18.10.2019 07:45
Almost 900 Polish companies in the hospitality sector owe a total of almost PLN 1 billion to their banks and suppliers, according to a new report.
Image by piviso from Pixabay
Image by piviso from Pixabay Pixabay License

The arrears, totalling PLN 987 million (USD 256m, EUR 230m), are largely due to payment delays, said Sławomir Grzelczak of BIG InfoMonitor, a firm that collects data about debt.

“Hoteliers have a very large number of contractors whom they have to pay on time. On the other hand, they themselves are dependent on payments that are not always made to them on time," Grzelczak added.

However, the report by BIG InfoMonitor said the Polish hospitality industry was expanding, despite its debts.

The study added that factors supporting growth included the strength of the Polish economy, a growing number of guests and an ongoing boom on the real estate market.


Source: PAP