Hotels to receive EUR 2.55 million for covering operational costs

RIGA - The Cabinet of Ministers on Thursday allocated EUR 2,555,465 from contingency funds to the Latvian Investments and Development Agency (LIAA) for support to hotels' operational costs.

In December 2020, LIAA organize the second stage of support program for tourism sector. 318 companies applied for support to operational costs or wage subsidies for a total sum of EUR 4.17 million.

By December 30, LIAA had assessed 131 applications, paying EUR 1,717,973 in support to hotels. This year LIAA continues to assess 187 applications for a total sum of EUR 2,555,465, and this is the sum the government allocated today.

Economics Minister Janis Vitenbergs (KPV LV) said that as different restrictions continued in business, it is necessary to support those sectors that have suffered most in the crisis.

"Support to the tourism sector was among the first ones where special support mechanisms were developed. The financing allocated by the government on Thursday will help to provide support to hotels for winter and maintenance of their infrastructure," he said.

The ministry said that hotels may receive support in covering operational costs at the amount of EUR 4 per square meter that can be used for utilities, rent and similar expenses.