Oxygen bubble to fund hotels and restaurants

Restaurants and hotels continue to recover slowly after the devastation caused by the corovarial health pandemic. Although vaccination in 2021 gave the sector a break, revenue has not yet been able to recover to pre-COVID levels. And now, the uncertainty surrounding the evolution of the pandemic and Rising prices for electricity and raw materials Keep these businesses on their toes.

Funding was key for many institutions to be able to stay. Banco Santander allocated € 4,000 million last year to support restaurants and hotels. This figure means exceeding pre-crisis levels and almost doubling than in 2019. “The Bank ‘s speed in resolving customer proposals has been crucial for many entrepreneurs to continue to grow their business, a key sector for the Spanish economy. “The pandemic had a big impact on them,” they said.

The subject has 132000 users In this sector and turnover 12.5 billion. From them, 114,000 belong to the restoration sector – about 68% are self-employed – and the remaining 18,000 to hotel companies – 60% to micro and small businesses. In 2019, the entity created a specific department for the attention of the sector, except for a center specializing in franchises, in which organized restoration has a very significant weight.

The most demanded products by hotel and restaurant customers were, on the one hand, financing related products: loans, credits, Leasing Furniture or Fast payment, Which finances the payment of suppliers’ invoices. On the other hand, insurance such as cyber security and multi-risk, as well as POS terminals in all forms: physical, free, virtual and telephone.

Digitization, the key to the future

The crisis has also reinforced certain trends, especially digitalization. According to the Book of the Year of Spanish Hospitality, Digital technology serves to improve processes in both production and marketing, Which will make it possible to take advantage of new entrepreneurial opportunities. Home delivery service and catering will continue to increase, which will add to the comprehensive offer of the business. It will also improve management, professionalism and efficiency, which together with sustainability and training is key to the recovery and future of the sector.

In fact, almost 60% of Banco Santander’s customers are digitized in this sector. The company offers a wide range of services to facilitate the day-to-day operations of its business. Between them OneDigitalAn online platform that allows you to make online transfers across the EU and other countries that accept the Euro – SEPA (Single Euro Payments Area its acronym in English), log in to Bizum and work in foreign currency, as well as offer tools for the self-employed, micro and small and For medium business digitalization.

It also has an exclusive offer for customers who want to set up their online business and thus grow their business; And the Santander ZOne platform, which acts as a virtual exhibition for business products and services Applications Bank and help them connect with more than five million potential customers in the market, in addition to offering discounts, experience and exclusive benefits. Also emphasizes service Deadline XWhich allows you to defer payment up to a 12-month payment upon purchase.

In addition, the Bank, in collaboration with Global Financial Services Networks, KPMG and LocalEurope, has developed a platform for managing and providing information on public assistance, especially from foundations. Next Generation Europe. This tool makes it possible to find out which help or subsidy is best suited for each business profile. Santander’s goal is to prevent small and medium-sized businesses from accessing them due to ignorance or complexity of processing.