Greek Hoteliers Expect Recovery in 3 to 5 Years

The Hellenic Hoteliers Federation’s Board of Directors.

Greek hoteliers hit by the Covid-19 crisis will start recovering losses in three to five years’ time, said Hellenic Hoteliers Federation (POX) President Grigoris Tasios during the the body’s general assembly held in Athens on Thursday.

“Following two years of the pandemic, the average decline in turnover is at 55 to 60 percent compared to 2019, and it is estimated that it will therefore take three to five years to lead to full economic recovery,” he said during the meeting attended by Tourism Minister Vasilis Kikilias.

Tasios underlined the importance of working closely with government authorities and stakeholders as well as the need to introduce a series of measures aimed at categories of hoteliers impacted most by the health crisis.

He acknowledged the improved tourism figures this year but added that much more needed to be done.

Greek Tourism Minister Vasilis Kikilias with POX President Grigoris Tasios.

The positive results “may have created good impressions but businesses and employees cannot survive on impressions alone”, he said, calling on the tourism minister to take action and extend government aid to June 30, 2022.

Kikilias pledged the ministry’s support and said he would work with hospitality professionals and stakeholders to find solutions to problems. 

Greece has “fought a great battle during the pandemic to protect its tourism product, enhance the tourist experience, and upgrade infrastructure,” he said adding that through the utilization of 320 million euros in recovery funding, the sector will emerge stronger and more resilient. 

The Hellenic Hoteliers Federation’s general assembly was also attended by Greek Tourism Confederation (SETE) President Yiannis Retsos and Hellenic Chamber of Hotels President Alexandros Vassilikos.