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Sceptisism on comming plans for condos

25 June 08 | GERASSIMOS FOKAS
GERASSIMOS FOKAS

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30 August 17 GLP J-REIT Global Logicis Properties
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The contribution of Greek tourism and hotels in the Greek economy has been measured at $1 trillion. However, the efficiency of the capitals of the hotel businesses of Greece remains negative for many years now, as this derives from the processing of the balance sheet.


The main factors for this, are the sensitivity of the tourist product against unknown factors and crises that burden the results and the invoice policy of hotels, the high taxes and municipal levies, as well as, the high insurance rates and the strict labor framework of the Greek market.

I would say that Greek hotels have the highest operational costs in the EU, something that covers more than 50% of their total operational expenses.
A fact that means, as mentioned by an important person in the field of tourism, that in order to cover the existing beds in the Mediterranean region, we need more than 50 million visitors in the following years.


These reasons explain why great hotel chains do not invest in the country.
For years we hear about great investments, but we still haven't seen any of them materialized. By seeing the plans of these investments, we realize that the interest is focused in constructing and selling of holiday houses. That is why everyone is looking forward to the legislative framework to materialize their thoughts and goals.


The Hotel Chamber represents 9,500 hotels and it its natural to be extremely cautious with any new regulation that reinforces either with town planning motivations, or with financial motivations, any type of accommodation, that may lead to financial bankruptcy the existing hotel businesses.
That is why, the Chamber for years now, ask the State to limit the quantity and quality goals for tourism's further development.
According to the new Zoning, there is the introduction of a new operational structure in regards with tourism. Greece's Hotel Chamber agrees with the mixed model of holiday houses and hotels, combined with special tourist facilities, like golf, so as to reinforce the viability of the investments.


Μr Gerasimos Fokas is the President of the Chamber of Hospitality

 

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