Strong Swiss Franc Swallows Smaller Alpine Hotels

Strong Swiss Franc Swallows Smaller Alpine Hotels by swissinfo.ch

Some 10% of Swiss hotels, mainly in alpine regions, have been beaten into submission by the appreciating Swiss franc in the last five years. The loss of hotels has not been matched by jobs, thanks in good part to cities taking up the slack in demand from mountainous regions.

“In Switzerland we have lost around 90 hotels a year over the last five years,” Andreas Züllig, head of the Swiss Hotel Association, told swissinfo.ch. “We expect this to continue at a faster pace since January 15 [when the Swiss National Bank abandoned its franc-euro exchange rate ceiling].”

“Guests are coming for shorter visits, staying in cities and coming to the mountains...