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Study: Greek Hospitality Sector Shows Signs of Financial Health

The Greek hospitality industry is leaving the crisis years behind, as it increased earnings by 3.6 percent and gross profits by 44.4 percent in 2016.

Tourism, Fiber Optics Projects for Skorpios Islet OKed by Greek Gov’t

Dozens of luxury villas and restaurants as well as a fiber optics network will be constructed on the Ionian islet of Skorpios.

Hellinikon Investor Lamda Calling for More Actions Fewer Words

Lamda Development is ready to launch works at Hellinikon, as long as the Greek government displays the political will for the project to materialize.

Athens’ Historic King George Hotel Goes to Lampsa SA

Eurobank has accepted the pre-emption right of Lampsa SA for the acquisition of the five-star King George Hotel for 43 million euros.

Minister Says Hellinikon Project Moving Ahead ‘One Step at a Time’

Development of the delayed multi-million-euro Hellinikon project is moving ahead “one step at a time", according to Deputy Economy Minister Stergios Pitsiorlas.

Seasonal Tourism in Greece Takes Toll on Jobs

The seasonal character of Greek tourism has taken a toll on employment rates, with 98,420 lost jobs in October marking the end of the season.

Greek Finance Minister Eases Capital Controls

Individuals wishing to open a new bank account can now do so after a decision by Greek Finance Minister Euclid Tsakalotos to further ease capital controls.

Greek Island VAT Rise Not Bringing in Gains

Revenue from the elimination of a special tax status applicable on a number of Greek islands has proven disappointing, according to an October tourism survey.

Lamda Says Hellinikon ‘Cannot Be Materialized’ Due to Double Talk

Hellinikon Global, the managing investor of the Hellinikon project, said that the investment cannot proceed due to continuous set backs and political double speak.

Enterprise Greece: €1bn Worth of Investments in the Pipeline

One billion euros worth of investments are in the pipeline for Greece in the areas of tourism, energy, telecommunications and commerce.

Greece’s Economic Chamber Says Reduced Island Tax Status an EU Provision

The Economic Chamber of Greece is calling on the government to retain the special tax status applicable on Greek islands.

Four Seasons Astir Palace Hotel Athens Aiming for Spring 2018 Opening

The multi-million-euro revamp of the Astir Palace will proceed according to schedule with plans to open its doors to the public in spring next year.

One Prerequisite Down Nine to Go for Hellinikon Project to Move Ahead

Of the 10 conditions for the Hellinikon project to move ahead only one has been met, while investors say it will take a decade to clear outstanding issues.

Greek Hotels Becoming Attractive Investment Option

Increasing tourism flows and dropping prices are making Greek hotels an attractive investment choice with hospitality units on the islands winning over buyers.

Greek Economy Ministry Expects FDI to Exceed €4bn in 2017

The Greek economy is showing signs of recovery with the economy ministry expecting FDI to exceed 4 billion euros in 2017.

Greek Gov’t Seeking Way to Put Island VAT Hike on Hold

Α decision to eliminate a special tax status on the Greek isles may be postponed, as the government looks into ways to ease the tax load on its citizens.

Fraport Greece Airports Boost Parent Company Profits

Fraport Greece has boosted German operator Fraport’s turnover by approximately 181.4 million euros since April, when it took over 14 Greek regional airports.

FS Italiane: Speed Train on Athens-Thessaloniki Route in January 2018

Ferrovie dello Stato Italiane, owner of Greece’s train operator Trainose, in January is aiming to launch a new passenger speed train to run the Athens-Thessaloniki route.

Plans for Skyscrapers at Hellinikon Raising Concerns

The Hellinikon project is facing a new obstacle as the Central Archaeological Council (KAS) must now decide on whether or not to allow the construction of six high-rise buildings.

Greece Properties Selling to Foreigners, Golden Visa an Incentive

All the more foreign nationals are interested in buying property in Greece with the real estate market picking up pace, particularly due to the golden visa program.