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Stat Bank: Hotel sector is a "two speed" industry

09 September 08 - RE+D Magazine
Stat Bank: Hotel sector is a

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The hotel business sector has turned into a "two speed" industry, since 58% of the companies recorded profit, while 42% has recorded loss. This is the result from a big Pan-Hellenic research by STAT BANK in the sample of the 795 bigger (based on turnover) hotel enterprises.

Despite the fact that 334 hotel enterprises did present loss in 2007, in its entirety the Greek hotels' sector was positively moved. According to the research of STAT BANK, the 795 bigger hotel enterprises while in 2005 had presented total a damage of €23,2 mln, a year later- in 2006 - they presented profit of €1 mln while in 2007 they presented total profit €82 mln.

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