According to a report in today’s Sunday Times, as many as 1,000 Greek hotels are expected to close or be put up for sale in the next few weeks as owners fight for survival in the face of the massive economic downturn in Greece and reduced bookings.
Visitors from Germany are down nearly 30% as Greek protesters blame Germany for their economic woes by burning German flags. Visitors from the UK are also down 10%.
Although the worst hit areas are around Athens the Greek islands are also affected. Large 4 and 5 star hotels in Greece are expected to be hit the least, but small family run hotels are the worst affected as many Greeks used these hotels for their own holidays but they can no longer afford to take holidays.
Travel agents are warning people who book direct with hotels in Greece to be cautious because if the hotel goes bust they will find themselves with nowhere to stay or having to pay again for alternative accommodation. Whilst the credit card company will probably refund the money the airline will not offer a refund in these circumstances.
There is a strong case for booking your holiday with a travel agent who offers ATOL protection, as you will then get a full refund of the accommodation and flight if the hotel you have booked closes down. In addition, a travel agent is likely to be able to swap your accommodation booking to another hotel without you having to pay again.
To book an ATOL protected holiday to the Greek islands call Global Holidays FREE on 0800 433 2300
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