Tui will delay the payment of the debts owed to the Greek hoteliers

Hundreds of businesses in the tourism sector are in danger of being locked in after Tui’s decision to delay the payment of the amounts owed to them this year until March 2021. It is recalled that the largest tour operator in Europe, with threats to cancel all of her travels in our country, had pressured the Greek government in the summer to change the protocols for the tests and the quarantine procedure for the tourists (eg initially 36 hours quarantine was provided), with the results of this practice being reflected in the unprecedented second wave Now, according to a Financial Times article, Tui has revised its contract terms this month, leaving hoteliers to wait until March 2021 to receive three quarters of the money owed by the company for overnight stays that took place this year. These payments are usually made 60 days after the customer’s departure date. Huge Debts These amounts, amounting to several hundred thousand euros for many hotels, were crucial to the survival of these businesses in an already difficult winter. Two hoteliers said to FT that Tui owes them more than 600,000 euros each and they will have to resort to bank lending to survive if the tour operator does not pay them the amount owed to them this month. A travel agent operating in the islands expects to receive 70,000 euros from Tui and is considering terminating his contract with the company. He even points out that although other agents helped the hotels with special offers, Tui’s stance shows a firm, corporate side. SYRIZA’s question from last week hotels. “They took a big risk this year amid a pandemic and many have accumulated losses. It will be a big fight for survival for many three- or four-star hotels. ”Mr Santorinios and 34 other SYRIZA MPs sent a question to Parliament last week, urging the government to pressure Tui, Greece’s biggest travel agent, to recall and pay. They also want the government to raise the ceiling on short-term hotel loans from 800,000 euros to 3 million euros. Tourism Minister Haris Theocharis told the FT that “the government is closely monitoring the situation”, hoping to secure additional support from Is Tui the next Thomas Cook? For its part, Tui claims to have given a significant amount to hoteliers in advance for the summer of 2020 and to have contacted a “small percentage” of hoteliers. in Spain and Greece “to discuss payment plans and consider options together”. The colossus works with 1,400 hotels in Spain and more than 2,000 in Greece, but owes more money to Greek professionals as our country was deemed safe for travel in the summer by the British government for longer. The Greek tourism industry is estimated to have lost 12-14 billion euros this year due to the pandemic, while Barclays estimates that Tui has “burned” 3 billion euros in the last eight months. 8 billion euros from the German government. It is even considering other solutions to improve its liquidity. Now, Greek hoteliers are worried that Tui will develop into the next Thomas Cook. Follow it on Google News and be the first to know all the news. See all the latest news from Greece and the world, at

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *