the top end of the market . We do , however , own some mid-market upscale hotels which we operate using third-party brand franchises . At some point , we may consider launching our own brand , positioned lower than Corinthia , although that may be a few years down the road .
H : It has been a tough 18 months for performance . How is the company holding up financially ? Are any properties in danger of foreclosing ? Have you been able to successfully refinance debt ? SN : We were fortunate to enter the pandemic with a strong balance sheet , healthy cash reserves and above all , an abundance of goodwill built over many , many years with our own colleagues , banks and shareholders . Everyone chipped in . Our staff agreed to salary deferrals ; the more senior , the higher the deferral . Our banks have supported us on payment deferrals . Governments have stepped in with subsidies on salaries and other rates , as well as subsidized bridge loans where necessary . As a result , we remain in a healthy position , with relatively the same level of conservative debt as we had pre-pandemic , and none of our hotels are in any immediate danger in the sense you asked .
H : Talk about the portfolio performance and how it is trending at the moment . What are your expectations looking forward ? What are you forecasting for the rest of 2021 and into 2022 ? Are you determined to hold rate versus driving occupancy ? SN : We had all hoped for an earlier recovery , but we do see light at the end of the tunnel . Wherever restrictions are relaxed , we see demand rushing
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