Greek hotels have to deal with substantial losses of 1 billion euros from deposits not paid out in 2020 for 2021 thanks to the pandemic and from debts that have not been collected, on best of the slump in revenues very last calendar year: Lodge turnover dropped 78% in 2020 to €1.83 billion, in opposition to €8.357 billion in 2019, according to a new survey.
A report by the Institute for Tourism Investigate and Forecasts (ITEP) for the Hellenic Chamber of Accommodations showed that just one in 5 inns that ordinarily run for 12 months for each 12 months managed to stay open up, in contrast to these that remained open up all through 2019.
Out of the 3,965 calendar year-round motels in Greece, just 59% of them reopened following the spring lockdown (2,328 models) and nearly two-thirds of individuals (63%) have been pressured to shut down just before the finish of 2020. At some point, only 863 yr-spherical lodges remained open up in December, symbolizing just 22% of the total.
As much as seasonal hotels are involved, the common period of time of operation shrank to just 3.2 months in 2020, whilst that of year-round units contracted to 7 months, because of to the amazing ailments.
The signify occupancy charge in the summertime quarter (July-September) for all hotels (which includes those people that remained shut) was down to 23.1%. Complete revenues from rooms in the summer quarter past calendar year even lagged individuals of September 2019.
ITEP estimates that the funding resources for the governing administration assistance of the sector have included a 3rd of resort enterprises’ whole liquidity needs. Crucially, people systems have absolutely supported employment at the resorts that did work in 2020.
As much as costs ended up concerned, the ordinary fee dropped 16% in August and 11% in September on an annual basis.
Chamber President Alexandros Vassilikos observed that the effects of the study “confirm the unprecedented extent of the disaster motels confronted in 2020, while 2021 has started out with quite a few unidentified components and questions.”
He stressed liquidity help “constitutes the oxygen the sector calls for to continue to be sturdy, not only for the reward of the enterprises, but also of the countrywide overall economy.”