Up to 1000 hotels in Greece are facing closure

Greek hoteliers are struggling to keep their properties open in the face of reduced bookings

Published 20 March 2012 in News

Up to 1,000 hotels in Greece are facing closure in the next few weeks.

The Hellenic chamber of Hotels reportedly said that some 10 percent of the country's hotel owners were planning to sell-up after official figures predicted tourism revenue for 2012 would be 5% down on last year.

Recent anti-German protests in Athens involving the burning of the Nazi flag has resulted in a fall for 25 percent in bookings from German nationals.

Bookings from British and Irish tourists is expected to drop around 10 percent.

Reports in the Sunday Times said 10 hotels were for sale on Cephalonia, two agencies in Corfu have 42 properties for sale, with prices beginning at £290,000, while an agency in Crete has 75 hotels on its books.

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