European travel giants delay payment of Greek hotels

category:Finance
 European travel giants delay payment of Greek hotels


The Greek hotel industry alliance not only issued a written warning to the competent authorities when the hotels returned to work in June, but also reminded the industry of the problem in September. Tassios said that in September this year, he noted that Tui had accepted the second aid package from the German government, and found that Tui had an obvious funding gap and the problem was international. He stressed that the necessary insurance rules should be included when the relevant departments reach cooperation agreements with large tourism groups such as Tui.

Tassios is worried about a similar scenario of the bankruptcy of Thomas Cook, an old British travel agency, in 2019. At that time, the Greek Tourism Federation once said that the sudden collapse was a magnitude 7 earthquake, resulting in the tourism sector as if waiting for a tsunami, and the local hotel and tourism industry in Greece suffered 250 million to 500 million euro losses.