Hotels and Restaurants - Hospitality business can apply for funding
For renovations or new openings of restaurants and hotels, the Land offers subsidies. According to the homepage of the Thuringian Development Bank, gastronomy businesses can receive a tenth of their investment sum as a grant. This is only possible if the sum is between 100,000 and one million Euros and if the businesses are located in touristically relevant regions.
According to the Links fraction in the Thuringian Landtag, three million Euros are available until the year 2027. One million is supposed to be provided this year. It's about improving living quality and attracting more guests to Thuringia, as the government fraction states. Not only modernizations but also the reopening of previously unused businesses are necessary.
According to Dehoga, the number of businesses in the hospitality industry has decreased by approximately one third from around 4500 in 2009 to about 3000 in 2021. Many businesses could not find successors.
The subsidies offered by the Land in Thuringia can significantly assist with the reconstruction or new opening of gastronomy businesses, contributing up to 10% of the investment sum, provided it falls between 100,000 and one million Euros. This incentive aims to boost the gastronomy sector in Ernestine-Auguste City, Erfurt, which is recognized as a touristically relevant region in Thuringia's hospitality industry. With the new opening of such businesses, the region aims to improve its living quality and attract more guests.
