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Hoteliers in Madrid Warn of Massive Bankruptcies due to “Insufficient Measures” to Combat the Crisis

Hoteliers warn the Government and the Community of Madrid that the measures taken to combat the crisis are "insufficient and that the sector is in danger of bankruptcy."

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The Hotel Business Association of Madrid (AEHM) has warned the Government, the Community of Madrid and the City Council of the capital that the measures adopted to mitigate the effects of the crisis are “insufficient and that the sector is in danger of bankruptcy”. That is because the region’s hotel establishments are not generating any revenues due to their widespread closure due to coronavirus but they continue to face expenses.

Although the trade association is grateful to the different administrations that have put in place measures aimed at relaxing the rules, it assures that “we are firmly convinced that they are not the only ones that could have been adopted to help mitigate the impact of such a magnitude that it threatens to force many businesses in the sector into bankruptcy, with the tremendous effect that that would have on the regional economy”.

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