The Belgian subsidiary of brewing giant AB InBev will cover part of the rent of its catering operators, she announced in a press release. Since the start of the coronavirus crisis, it estimates that it has invested 20 million euros in the hospitality industry, in particular in the form of rent exemptions or by replacing expired beer with fresh when the cafes reopen.
The group will pay a quarter of the rent of its operators for the months of November, December and January. The brewer, who does not himself own any rental properties, appeals for support to owners who rent to the hospitality sector to also contribute to the effort.
“AB InBev leases 1,500 buildings to more than 600 landlords and therefore has to go through a complex exercise before it can announce major payment plans. This time, the brewer chooses to spread the rent discount over three months. Just like in April, the condition for the catering operators to receive the rent cancellation is that they pay all the other open rent months or that these are included in a payment plan respected “, explains the group.
“The Belgian beer culture is a world heritage. Our cafes and restaurants are world famous. We must continue like this”, comments Pieter Anciaux, hospitality manager at AB InBev Belgium.
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