SPAIN’S iconic Paradors are symbols of decadence, history and legacy, transforming some of the country’s most treasured buildings into luxury hotels.
But they have not been paying their way, ending 2014 €7.8 million in the red.
In spite of this improvement on €19.7 million the year before, it marks six consecutive years without profit.
The government injected €40 million into Paradors last year alone but overall occupation remains low at 53.5% on average.
But there is some good news: Paradors are expected to be in the black by €1 million at the end of this year.