Greek hotel losses from Thomas Cook fall: €315 million in 2019 and €1 billion in 2020

Α Decrease font Enlarge font
Greek hotel losses from Thomas Cook fall: €315 million in 2019 and €1 billion in 2020From a total of 9,917 hotels operating in the country, 1,193 were cooperating with Thomas Cook Group or 12 pct of hotel capacity

Hotel losses from the collapse of Thomas Cook are estimated at 315 million euros, the Hellenic Chamber of Hotels announced on Tuesday, according to ANA.

The Chamber presented the results of a survey carried out by the Research Institute for Tourism (ITEP) in the period September 24-27 on hotels cooperating with Thomas Cook. The survey showed from a total of 9,917 hotels operating in the country, 1,193 were cooperating with Thomas Cook Group, or 12 pct of hotel capacity, with 48 pct of them ranking in the 1-, 2- and 3-star hotel categories.

The survey pointed out that the negative impact was not restricted only in claims for 2019 - which can no longer be covered - but noted that estimated losses of arrivals and stayovers because of the collapse of the UK tour operator in 2020 will reach 1.0 billion euros, while for the economy in general losses could reach 2.5 billion euros next year.

Alexandros Vasilikos, head of the Chamber, speaking during a news conference, said that the Chamber was examining a package of measures aimed to support employment, liquidity and the viability of hotel units. He also underlined the need to create a large alliance between the government, tourism authorities, regional authorities, agencies and enterprises to promote the country and to implement alternative synergies as the economy faced the risk of losses worth 2.5 billion euros in 2020. 

"Extending the tourism season and attracting visitors with higher incomes are urgent targets for the tourism industry," Vasilikos said.

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinationsGreek travel marketGreek tourism statisticsGreek tourism report

Photo Source: pixabay.com

 

Tornos
  1. 15/10 22:09

    Hybrid tolling system in Olympia Motorway to operate in Greece during 2020

  2. 15/10 20:53

    Acclaimed Greek fashion designer Sophia Kokosalaki passes away at age 47

  3. 15/10 20:46

    Technology to drive advances in air passenger experience and infrastructure

  4. 15/10 20:35

    IMF lowers growth forecasts for Greece to 2% in 2019 and 2.2% in 2020

  5. 15/10 20:13

    63 paid internship positions at the Stavros Niarchos Foundation in Greece

  6. 15/10 18:36

    Precious gold jewels found at Lord Elgin’s shipwreck off Greek island of Kythira

  7. 15/10 18:00

    New generation of PPP infrastructure projects under preparation in Greece

  8. 15/10 14:00

    Hellenikon developer expects big revenues from luxury residences in Athens

  9. 15/10 12:05

    UNWTO leads key discussions on sector trends and outlooks

  10. 14/10 22:16

    5th Pan-Hellenic Congress of Thermal Medicine organized in Kamena Vourla

  11. 14/10 22:05

    Queen Elizabeth responds to Philhellene’s plea for return of Elgin Marbles

  12. 14/10 21:55

    First micro-brewery Athens Craft Beer Festival between October 18-20

  13. 14/10 21:49

    Draft bill for Greek Diaspora abroad vote heading for Parliament in Athens

  14. 14/10 19:59

    Religious Tourism: Greece adopts autocephaly of the Church of Ukraine

  15. 14/10 19:39

    Greek PM talks investments with Deutsche Telekoms and Enel Green Power

  16. 14/10 19:38

    €300 million wind farm complex inaugurated on Greek island of Evia

  17. 14/10 19:25

    Greek budget showed primary surplus of 4.479 billion euros in January-September

  18. 14/10 19:06

    Greek government offers incentives to attract the world’s super-rich

  19. 14/10 16:41

    Explore oldest underwater “lost city” in the Mediterranean off Greek island of Pavlopetri (video)

  20. 14/10 14:54

    Alien fish species from Red Sea the focus of study in Aegean Sea of Greece

  21. 14/10 10:24

    Sunshine and high temperatures in Greece on Tuesday

  22. 13/10 20:20

    Sports Tourism: World’s most disruptive start-ups marked at Macau event

  23. 13/10 17:44

    Greek-American Massachusetts student wins “Philotimo” competition in US

  24. 13/10 17:34

    Port Jefferson AHEPA Chapter 319 hosts second successful annual fishing trip

  25. 13/10 12:22

    Annual meeting of Visitor International organized in Athens for the first time

  26. 13/10 11:36

    Culture Tourism: The Minotaur of Crete moved Greece, Rome, art, literature, and myth

  27. 13/10 11:29

    Greek government bill to regulate “red” loans by end of October

  28. 13/10 10:57

    Greece plans to promote manufacturing in Attica through industrial and business parks

  29. 13/10 10:48

    Commissioner Moscovici interview: Greece is regaining its credibility (video)

  30. 13/10 10:25

    First crematorium in Greece operational 70 kilometers northeast of Athens

  31. 13/10 10:15

    SETE President: Full extent of problems from Thomas Cook collapse 'not yet apparent'

  32. 12/10 17:38

    Greece-based firm takes part in $249 million USMC contract for night-vision goggles

  33. 12/10 17:27

    National Historical Museum in Athens pays tribute to Greek Revolution

  34. 12/10 17:22

    Cypriot and Jordanian enterprises jointly explore investment opportunities

  35. 12/10 17:16

    Fall in fish farming output will trigger price rebound in Greece

  36. 12/10 14:07

    October 12, 1944: The date of Athens' liberation from Nazi forces

  37. 12/10 14:00

    Greek Tourism: Canada and Australia become top source markets

  38. 12/10 13:52

    New development bill to encourage investments in Greek mass media

  39. 12/10 13:46

    Greek Freak NBA star Giannis Antetokounmpo set to become a dad

  40. 12/10 13:42

    Athens Declaration adopted by EU heads of states at Arraiolos Group Meeting

  41. 12/10 13:39

    Record 60,000 athletes to compete in Athens Marathon

  42. 12/10 13:34

    Greek Education Minister meets new Israeli Ambassador Yossi Amrani

  43. 12/10 13:30

    Global city leaders adopt ‘Nur-Sultan Declaration’ on Smart Cities

  44. 12/10 13:16

    27 new affiliate members greenlighted at 23rd UNWTO General Assembly

  45. 12/10 11:46

    Flag raised on Acropolis to celebrate 75th anniversary of Athens' liberation

  46. 12/10 11:25

    Greek tennis star Tsitsipas' bid for Shanghai Masters final blocked by Medvedev

  47. 12/10 10:52

    Draft bill envisions e-voting for approving strikes in Greece

  48. 12/10 10:30

    Property auctions in Greece growing in numbers by the month

  49. 11/10 22:54

    Greek tennis star Tsitsipas beats Djokovic and qualifies for Shanghai Open semifinals

  50. 11/10 18:18

    Work stoppages in Athens tram and metro next Thursday

  51. 11/10 18:10

    Agrotourism: Foreign funds invest in Greek agritech startup

  52. 11/10 17:51

    Greek fashion exhibition at the Hellenic Cosmos Cultural Center in Athens

  53. 11/10 16:35

    NATO Secretary-General Stoltenberg travels to Athens and meets Greek PM

  54. 11/10 15:09

    Greek shipping takes the global lead in Liquefied Natural Gas carriers sector

  55. 11/10 13:31

    Greek General Accounting Office foresees reduced state debt for 2019

  56. 11/10 13:23

    Boston Consulate honors Greek architect who shaped the Athens Acropolis

  57. 11/10 13:22

    Prime Minister's office: Party consensus possible on voting rights by Greeks abroad

  58. 11/10 13:10

    Greek Shipping Minister meets Piraeus Port Authority's CEO

  59. 11/10 12:50

    Cyprus and Greece ready to further promote cooperation in shipping

  60. 11/10 11:59

    International conference on underwater natural heritage held in Athens

  61. 11/10 11:38

    Greek Finance Minister Staikouras on three-day visit to Cyprus

  62. 11/10 10:44

    Prime Minister meets party leaders on voting rights of Greeks abroad

  63. 10/10 21:54

    Moderate rise in airline passenger demand recorded during August

  64. 10/10 21:49

    UNWTO: Regulation catches up with innovation - the case of short-term rentals

  65. 10/10 21:45

    New stamp series by ELTA with eminent Greek personalities (video)

  66. 10/10 21:30

    More competitive aviation could generate 200,000 extra jobs in Italy

  67. 10/10 19:12

    'Pompei and Santorini: Eternity in a day' show held in Rome

  68. 10/10 18:10

    Greek and Bulgarian Energy ministers welcome signing of IGB pipeline deal

  69. 10/10 18:05

    Spectacular transit of cruise ship through Corinth Canal in SW Greece

  70. 10/10 17:44

    Reuters: Lamda plans to start massive development at Hellinikon in January

  71. 10/10 17:39

    Greece, Cyprus and Bulgaria submit joint proposal on migration crisis

  72. 10/10 17:29

    Bills safeguarding Britons’ post-Brexit rights in Cyprus discussed in Parliament

  73. 10/10 17:18

    Mohegan Gaming presents its Hellenikon plan with Hard Rock to follow (video)

  74. 10/10 16:46

    The 15th Arraiolos group meeting organized in Athens on Friday

  75. 10/10 15:03

    Greek tennis champion Tsitsipas advances at Shanghai Masters (video)

  76. 10/10 14:30

    Greek unemployment rate dropped to 16.9% during July

  77. 10/10 13:15

    INSETE study: 20% growth in tourism arrivals in Greece during 2016-18 period

  78. 10/10 12:54

    EU Commission greenlights Greece's 'Hercules' plan for non-performing loans

  79. 10/10 11:19

    Sónar music festival takes place in Athens over weekend (video)

  80. 10/10 10:36

    THI Canada and Greek Community of Calgary welcome Olympic champion

  81. 10/10 10:05

    Volotea continues growing in Athens and launches four new routes

  82. 10/10 00:02

    Archbishop of America will travel to Bahamas on October 12-14

  83. 09/10 23:56

    Bank of Greece aims to help speed-up economic recovery with ambitious plan

  84. 09/10 23:15

    Greek PM and EU Council President meet at Maximos Mansion in Athens

  85. 09/10 23:03

    Greece honors only surviving Australian veteran from WWII Battle of Crete

  86. 09/10 21:38

    Athens Philharmonic “Meet the Maestro” event in New York (video)

  87. 09/10 20:49

    European Central Bank: Greek banks' capital ratios around Eurozone average

  88. 09/10 18:03

    5th Thessaloniki Animation Festival premieres on Thursday

  89. 09/10 16:19

    Greek President decorates International Olympic Committee president Bach

  90. 09/10 14:19

    Greece sells T-bills with negative interest first time in its history

  91. 09/10 12:41

    GNTO President: Small islands can play key role in Greek Tourism

  92. 09/10 12:34

    British tourism | Greece among top-5 destinations in the world for 2020

  93. 08/10 22:36

    Airfield expansion at NSA Souda Bay in Greek island of Crete

  94. 08/10 21:48

    Greek Music in America Archives Project moves into next phase

  95. 08/10 20:20

    Attica Regional Governor meets Chinese Ambassador to Greece

  96. 08/10 19:13

    Greek President thanks Kerry Kennedy for support to return of Elgin Marbles

  97. 08/10 19:06

    Aussie pop star Jessica Mauboy gets engaged on Greek island of Kalymnos

  98. 08/10 18:57

    Initial pricing of Greek 10-year bond at all-time low of 1.55%

  99. 08/10 18:52

    Athens Philharmonic Concert at Carnegie Hall to support Saint Nicholas shrine

  100. 08/10 18:47

    Deputy FM: Greece must aim for even closer cooperation with UK after Brexit