Impacto de la crisis económica en la estructura económico-financiera de Paradores S.A.: Impact of the economic crisis on the economic-financial structure of Paradores S.A

Rubén  Lado-Sestayo; Eliseo  Fernández-Fernández; María Nela  Seijas-Giménez

Authors

Rubén Lado-Sestayo Universidade da Coruña, España
Eliseo Fernández-Fernández Universidade da Coruña, España
María Nela Seijas-Giménez Universidad de La República, Uruguay

Keywords:

Paradores, Economic crisis, Economic and financial analysis

Abstract

This paper analyzes the evolution of the Spanish stated-owned company Paradores de Turismo S.A. To do so, the methodology used is based on the case study by analyzing the evolution of its main liquidity, activity, indebtedness and profitability ratios and the sectoral context in the period 2009-2015. The objective is to evaluate the impact of the measures taken by the company at a time of falling demand and increasing difficulties in obtaining financing. During this period, the economic crisis that has affected Spain has greatly influenced the activity of the company. In this context, the company has carried out layoffs and has undergone a process of debt restructuring. These measures have resulted in the layoff of more than three hundred employees, temporary suspensions for more than two hundred and a reduction of the working day for at least four hundred. The study of this stated-owned company is important for its role as an instrument of economic and tourist policy. It is also useful to understand the company's response to the Spanish economic crisis that has hampered its access to financing.

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Impact of the economic crisis on the economic-financial structure of Paradores S.A