After the re-opening, the employee market will be remixed. It will be even easier for the best companies to choose the best employees. What will happen in “small border traffic” with employees from Poland, Czech Republic, Slovenia, Hungary, etc. – from when can they be reintegrated into working life (without quarantine)?
Long-term scenarios, planning and extensions of the repayment periods will become necessary. Deferrals alone are not sufficient, as the repayments incurred cannot be repaid in the re-opening period. The qualification of the entrepreneur will now become even more visible.
The fulfillment of the forecasts in the business plans of the operators will be two years behind. It remains to be seen how banks will react and when they will open the money-lock for new projects after the re-opening. The choice of an operator will be more important. The existing development pipeline will be worked off continuously, but how construction prices will develop is open. Whether new projects will be added will largely depend on bank financing.
The lease coverage ratio will increase in the interest of the operator and owner. This will, however, lead to lower returns for the owners (except for purchase costs such as construction and property) as the lease amount will not increase in the foreseeable future. Pandemics will suddenly play a role in insurance and any lease reduction clauses. The redemption of letters of comfort or bank guarantees would lead to precarious situations for banks and operating companies, as they cannot simply be refilled afterward. The legal dispute as to whether lease/rent-free time is granted is extremely important, but in the long term, it is more decisive whether fixed lease agreements are fulfilled after re-opening and whether any lease deferrals can be served in parallel. One question that will arise is whether a fixed lease is still appropriate. Hybrid contracts for risk distribution (e.g. turnover lease with minimum fixed lease) will have to be discussed in more detail.
It is necessary to find out what minimum daily performance is required to cover costs. Cashless payment will be promoted, so companies will have to make technical changes. In addition, hygiene regulations must be tightened, which will lead to risk groups (guests and employees) receiving more protection in the future. Furthermore, buffets in hotels will change in the long term in order to avoid crowds of people and to drastically reduce possible contamination of food.