Brighter days ahead HOW FINANCIAL SUPPORT FROM THE UK GOVERNMENT HELPED A HOTEL WEATHER THE STORM OF CORONAVIRUS

When the Merrion Hotel closed its doors in March, Paul Bream feared they would never open again.

It has been in Paul’s family since 1949 and loyal guests flock back year after year for a warm welcome from him and his brother Gareth.

“This is more than bricks and mortar to us, this is who we are,” says Paul.

“It’s part of our family and part of our identity so to say that it’s important to us wouldn’t even get close.

“We have heritage here, longstanding relationships with guests who have been coming for years. We’re part of their lives, they’re part of ours.”

News of the UK Government’s package of financial help for firms hit by the coronavirus crisis allowed the Breams to “breathe a sigh of relief ”. The hotel was able to furlough its 47 staff and the suspension of business rates also helped. There were still bills to pay, so the UK Government’s Coronavirus Business Interruption Loan Scheme (CBILS), which provides loans of up to £5m with no interest for the first 12 months, gave them more breathing space.

“The standing costs don’t stop simply because we lock the front door,” says Paul. “We have ongoing costs which we can’t get away from.

“For example, our broadband costs about £500 a month. So we wanted to make sure we had enough liquidity in the business for however long this lasts, not have any issues with our suppliers, and be ready to hit the ground running when lockdown is lifted.”

Paying suppliers is vital for Paul because he values the relationships. “It’s very, very important to us that our suppliers have confidence in us because it’s a two-way street – we have to work with them and trust them and vice versa,” he says. “For them to know we are in a secure place hopefully allows them to run their business and be ready to supply us as and when we reopen.

The financial support from the UK Government means Paul is cautiously optimistic about the hotel’s future –