Industry faces dash for euro

By Louise Bozec

Hoteliers and restaurateurs must not delay in preparing for the introduction of the euro, the British Hospitality Association (BHA) has warned.

The euro becomes legal currency for paper and electronic transactions from 1 January 1999, with notes and coins to be issued in 2002.

But with the first of those dates less than five months away, few in the industry have opened a euro bank account. Unless they do so before the end of the year, they will not be ready to accept euro payments from 1 January.

Martin Couchman, deputy chief executive of the BHA, said: "People need to assess their business needs, and if they know they will be getting customers paying in euro cheques, they ought to seek advice from their bank now."

At the London-based restaurant chain Groupe Chez Gérard, co-founder and deputy chairman Laurence Isaacson said talks on the subject were under way.

"We have not finalised the details, but we are in the process of doing so," he said.

Meanwhile, there are still decisions to be made north of the border at Glasgow's 108-seat 78 St Vincent restaurant, where Jennifer I'Anson, assistant to the director, admits: "Nothing has been set up yet."

And, according to a spokesman for Consort Hotels Group, a consortium of 240 independent hotels in the UK, France and Ireland, "some hotels have not thought about it". But he added: "There is time, and if we had to make a decision on 20 December to set up an account, we could."

• Euro feature: see Caterer 27 August.