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  1. Greek banks conclude series of corporate actions as part of restructuring

    EconomyBanking

    the 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

    21%

  2. No imminent decision on pension cuts as Athens moves ahead with minimum wage increase
    Photo via Fosphotos

    EconomyProgramme

    that 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

    20%

  3. Newsletter 244 -20/03/2020

    Newsletters

    countries in the curve. Thousands of businesses affected by Covid-19 Hotel industry reports coronavirus... (HCH) has released a survey showing the first estimations of the impact on Greece’s hotel industry due... will directly threaten 38,234 jobs, which represents 20.5 percent of total hotel employment unless immediate

    19%

  4. Newsletter 253 -12/06/2020

    Newsletters

    sharp decline in hotel activity By activity, the accommodation index fell by 22.1 percent YoY in Q1, reflecting coronavirus-related hotel closures. The turnover index in accommodation and food services... by 22.1 percent YoY in Q1, led by coronavirus-related hotel closures, while the food service index

    18%

  5. Tourism sector struggles as it prepares for full reopening in July
    Photo by MacroPolis

    PoliticsGreek Politics

    by the story of the 9-year-old daughter of an unemployed hotel worker in Rhodes apparently fainting... dependent on seasonal tourism. Commenting on the story on ERT TV, the president of the hotel... that up to 40,000 workers in hotel and catering on the island are unemployed, while just 15 percent

    18%

  6. Greek union data suggest workers get paid late or in kind

    Society

    is up to 13 months. One in two hotel companies that operate for the whole year is said... or other products. In other cases, payment in kind may mean “free” hotel accommodation or daily meals

    15%

  7. Greece moves closer to troika over fiscal gap, waits for response
    Photo by MacroPolis

    EconomyProgramme

    citing government sources indicate that the key measures relate to increasing the VAT rate on hotel... that the resulting higher cost for hotel services from the rise of VAT to 13 percent would lead to 2.6 million

    15%

  8. Accommodation and food services index up 7.6 pct in Q3
    Photo by Harry van Versendaal

    EconomyMacroeconomy

    , the recent government proposal to double the hotel VAT rate to 13 percent, aligning... results. Responding to the ministry’s proposal, SETE underlined that the higher cost for hotel services

    15%

  9. Greek travel receipts continued upward course in October, rising by 4.6 pct
    Photo by MacroPolis

    EconomyMacroeconomy

    fiscal gap of 2.5 billion - to double the hotel VAT rate to 13 percent, aligning... negative effects are only temporal. In contrast, SETE stressed that the higher cost for hotel services

    15%

  10. Proposed VAT overhaul a stepping stone towards agreement with lenders?

    EconomyProgramme

    currently two main VAT rates at 13 and 23 percent and a lower rate of 6.5 percent for hotel... on hotel accommodation since prices would be set for an 8 percent increase. Smaller price increases

    15%