There were a number of 'bullet' lines on the Thomas Cook travel industry bankruptcy and the damages done today, via Focus.
So there was this footnote I saw and thought about a good bit.
It's not just foreign lands where the travel company screwed over hotels....you have German hotels left holding the bag.
So Focus reported that the hotels up in Mecklenburg-Vorpommern (the German state up east of Hamburg)....have several million Euro in bills....left standing there, and worried that they may never get paid.
Some analyst went and figured that at least a hundred hotels are going to hold unpaid bills from Thomas Cook or it's German agent Neckermann. Some of these go to the period of not only September, but August and July.
On the area of Usedom....a beach front area....it's a million Euro that hotels are missing out on.
Creating a long-term problem? I'm guessing that most will put some rule into effect that when the guest checks in.....they want their money from the travel company that minute. That'll mean that travel companies won't be able to hold onto the cash for weeks (as it is the typical current policy).
Trust in the travel industry? It's diminished a good bit.
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