Exploding costs, frugal guests, lack of staff, bankruptcies: the hospitality industry faces major challenges. krone.tv presenter Tanja Pfaffeneder talks to Alexandra Psichos, deputy chairman of the Viennese coffee houses, about the difficulties in the industry.
A large number of skilled workers have been lost due to the corona pandemic. Many have retrained during this time. “A job in gastronomy was often called bad,” says Alexandra Psichos, who herself runs two companies in Vienna. “Our industry is not a bad industry,” said the industry representative. The hospitality industry in particular is currently faced with the question: how can new employees be recruited? To make jobs in the hospitality and hotel industry more attractive, more and more hosts are introducing the four-day work week.
The crises have also changed the guests. In view of inflation, customers have less financial scope to eat out. Many restaurateurs are in trouble and close their business because they have to pay back the bridging loans received and barely make it.
Politics must act
There is no support from politicians. Even with financing, there are often complications in practice. “Small and medium-sized enterprises have to prepare annual accounts, but that is often not enough for the financing application. Documents cannot be submitted on time,” explains the restaurateur.
You can see the entire interview with Alexandra Psichos in the video above.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
