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Mouzenidis Group Reports Growth in 2018

Thessaloniki-based Mouzenidis Group said turnover for 2018 came to 350 million euros driven by the improved performance of its airline Ellinair, travel services provider Mouzenidis Travel, and real estate company Grekodom.

Performance in 2019 is moving in the same upward directions, the company said, backed by a 15-20 percent increase in reservations against last year.

In 2018, Mouzenidis Group activity generated 234 million euros in incoming cash flows for Greece, against 208.5 million euros in 2017, with further growth expected in 2019, the company said.

“2019 is expected to be another year of growth by at least 5 percent for the group’s companies to the benefit of the Greek economy, Greek tourism, local communities, employees and shareholders,” said Mouzenidis Group President Boris Mouzenidis.

Boris Mouzenidis

“Bookings figures in a difficult and volatile year justify our investments in the hotel, air and travel sectors. The largest Greek tour operator in Eastern Europe and with a significant presence in other markets, our [Mouzenidis’] responsibility is great for the advancement of Greek tourism, which is the country’s main economic activity. In this context, the provision of high quality services to our customers is a top priority,” he added.

Bookings from Mouzenidis’ main markets Russia and Ukraine, as well as Romania, Serbia and Bulgaria, are also on the rise.

Summer package deals (flight and hotel), meanwhile, are expected to reach 300,000 in overseas markets.

Broken down in terms of markets served in 2018, the group handled a total of 210,000 travelers from Russia; 35,000 from Ukraine; and 32,000 from Bulgaria, Belarus (17,000); Latvia ( 5,000), Estonia (4,000), Kazakhstan (3,500); Georgia and Armenia (5,000 each); Moldova (15,000); Romania and Serbia (30,000 each), Poland (10,000); Hungary (2,500), Albania (7,000), Skopje (15,000), Greece (domestic tourism – 16,000) and other countries (7,000).

Mouzenidis Group interests include carrier Ellinair, Mouzenidis Travel, real estate company Grekodom, medical tourism firm Grekomed, Mouzenidis Intour, BOMO Hotels, CS&R cargo services and EllinYacht renting services, among others.

There are currently five companies with more than 1,500 employees operating under the Mouzenidis Group umbrella, including activities in 16 countries through strategic partnerships.

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