Only 1.83 billion euros in hotel turnover in 2020, down 78%

The pandemic for the hotel market was catastrophic, with the turnover of units in 2020 plunging 78%, reaching only 1.83 billion euros from 8.36 billion euros in 2019.

At the same time, the need to strengthen the liquidity of Greek hotels as a condition for the industry to remain strong, stressed the President of the Hotel Chamber of Greece Alexandros Vasilikos during the presentation of the ITEP Annual Survey on the effects of the Covid-19 pandemic on Greek hotels , presented today.

In particular, according to the research:

– Only 1 of the 5 continuous hotels managed to stay open this year compared to those operating in the same period of 2019. Of the 3,965 continuous hotels in the country, after the 1st lockdown 59% of them (2,328 hotels) reopened and from 63% of them were forced to close again by the end of 2020. In December 2020, only 863 hotels remained in operation, representing 22% of the total.

– The average operating period of seasonal hotels in 2020 has shrunk to 3.2 months and continuous operations to 7 months due to the extraordinary conditions created.

– The average occupancy of July-September in the total hotel potential was reduced to 23.1%. It is characteristic that the total room sales in the quarter July-September 2020 were less than the corresponding sales only in September 2019.

– The turnover of hotels in 2020 decreased by 78% compared to 2019.

– The financial tools to support the hotel industry, have so far covered 1/3 of the average of the total liquidity needs of the hotels.

– With the help of the relevant programs, employment was supported in those hotels that managed to operate in 2020.

– An additional deficit of 900 million euros is shown by the hotel coffers due to uncollected turnover of 2020 which reaches 278,365,800 but also the reduction by 83.3% of the advances for 2021.


Source: Zougla.gr by www.zougla.gr.

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