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Study shows 341 mln a year in tax lost from short-term rentals
EconomyFeatures, imposing a uniform system of tax for hotels and hotel-like accommodation could generate at least 341... in the Greek hotel industry for better regulation of short-term rentals which they say attracts... and 6.8 percent. The effect is overall lower profit margins in the Greek hotel industry. Grant
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Tourism could give economy annual 5 bln boost, NBG report finds
EconomyFeaturesseason between June to September resulted in annual Greek hotel occupancy rates of 27 percent... investments of around 1.2 billion are required annually. This would essentially return hotel investments...). An upgrade in infrastructure is in turn likely to attract higher income tourists and thus boost both hotel
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Short-term rentals raise rents by average of 8.3 pct, study indicates
EconomyFeatureshaving been captured by the hotel industry such as hotel tax, the study showed that the net loss... lost was connected to hotels, and would therefore have generated jobs in the hotel industry, Grant... in the short-term rental market and hotel industry and reduce their negative social impact
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Newsletter 222 -04/10/2019
to a convergence in the future. Athens looks to overcome APS snags Hotel owners sound warning over... Chamber of Hotels (HCH) who outlined the immediate impact on the Greek hotel sector. Alexandros Vassilikos, warned that no Greek hotel would be left unaffected by the demise of the British travel giant
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Covid-19 impact on tourism sector set to be extensive, report suggests
EconomyFeatures. Domestic flight spending is expected to drop by 79 percent and spending on hotel and resort stays... on domestic flights. Spending on hotel and resort stays is expected to fall by 79 percent. In addition... hotel industry. It showed that 65 percent of year-round hotels and 52 percent of seasonal hotels felt
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Hoteliers staring at big drop in turnover as liquidity calls grow
EconomyFeaturesof the coronavirus pandemic on the country’s hotel industry, which shows that the hotel market has shown... being a brake on hotel results.” He added that goal for 2020 now remained to salvage what could... as the available funds were not reaching the hotel industry fast enough.
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New fiscal measures aim to edge Greece closer to deal with lenders
EconomyMacroeconomyof 6.5 percent for hotel accommodation, medicines, books,newspapers, magazines and theatre. In addition.... However, if the reduced VAT rate on hotel accommodation of 6.5 percent is to be abolished, the MoF would reconsider imposing this new tax as the impact on hotel accommodation could be significant. 7
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Greece seeks to finalise 1 pct of GDP in new tax measures to close review
EconomyMacroeconomyeuros. 3) A levy on hotel stays of 1-5 euros per night, according to the hotel’s category... rates or for not increasing the hotel VAT from 6.5 to 13 percent. 4) Increase in the excise tax
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Greek banks conclude series of corporate actions as part of restructuring
EconomyBankingthe sale and transfer of its 97.3 percent stake in Ionian Hotel, which owns Athens Hilton Hotel, to Home..., including the refinancing of Ionian Hotel’s existing debt of 67.2 million. According to Alpha
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No imminent decision on pension cuts as Athens moves ahead with minimum wage increase
EconomyProgrammethat will lead to the extension of the sectoral labour contract for hotel workers to cover all the employees in the field. The new contract is compulsory for all hotel employees and foresees a 1.5 percent rise... increase of 1.5 percent in 2019. According to reports, there are 114,000 workers in the hotel sector
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