Hotel operating company "Alpine Family" files for insolvency

Alpin Family includes hotel brands such as "AvenidA" and "Alpin Rentals" with over 3,000 beds at ten locations in Salzburg, Tyrol, and Upper Austria. The headquarters is located in Vienna. According to the company, comprehensive restructurings are planned. Operations will continue without restrictions during the proceedings, and salary payments to employees are secured.

"Unexpectedly Weak Winter": Hotel Operating Company "Alpine Family" is Insolvent

According to the company, investments have been made in the team and IT in recent years, and it has expanded rapidly. As recently as early summer, Alpin Family declared its intention to become one of Austria's leading holiday providers and to increase annual sales from 55 to 75 million euros by 2025. It is now stated that the integration of new operations has progressed more slowly than planned and, along with other factors, has led to liquidity shortages. Increased personnel costs and the effects of inflation and price increases, which could only be partially passed on to consumers, are cited. There has been a noticeable decline in overnight stays, with the statement literally referring to an "unexpectedly weak winter." According to credit protection associations, the debtor owns a total of 14 property shares, the value of which must be determined during the proceedings. Furthermore, the debtor holds shares in affiliated companies. The company offers creditors a quota of 20 percent, payable within two years.

(APA/Red)

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