Author Topic: Hard up hoteliers  (Read 4138 times)

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Online Maik

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Hard up hoteliers
« on: Friday, 31 March, 2017 @ 13:27:04 »
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Hotels are forced to sign cut-price deals

Cash flow problems are forcing Greek hoteliers to sign contracts with foreign tour operators that last for many years and lock prices at low levels.

The incentive for hoteliers is the down payments they receive from the tour operators that operate like banks for the local hotel enterprises. Tourism market professionals speak of hoteliers who have “mortgaged” their rooms for rates from as little as 15 euros per night for contracts lasting up to 2021.

The same professionals stress that the profit margins that can be secured on an annual basis play a decisive role in determining foreign tour operators’ policy toward destinations, as these are companies that are listed on international stock markets and are always seeking to improve their financial results. They have realized that there are opportunities in Greece for them to raise their profits, in some cases securing margins of up to 300 percent, the same professionals add.
http://www.ekathimerini.com/217307/article/ekathimerini/business/hotels-are-forced-to-sign-cut-price-deals


Offline TonyKath

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Re: Hard up hoteliers
« Reply #1 on: Friday, 31 March, 2017 @ 19:48:42 »
Margins of 300% ??!

 :rant:

Tony


Online Maik

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Re: Hard up hoteliers
« Reply #2 on: Saturday, 01 April, 2017 @ 13:20:54 »
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Short-term rentals have hoteliers worried

The hundreds of thousands of properties being leased out to tourists as accommodation without a permit from the Greek National Tourism Organization continue to operate in a state of tax immunity, just as legal hotels are set to be hit with a new tax burden in the form of the levy per night’s stay as of January 2018.
http://www.ekathimerini.com/217344/article/ekathimerini/business/short-term-rentals-have-hoteliers-worried