BUSINESS

Cretan hotels unaffected by Russian tour operator's bankruptcy

Cretan businesses were not expected to be affected by the bankruptcy of Russian tour operator Neva, according to Nikos Chalkiadakis, president of the Herakleio hotel owners' association.

The Saint-Petersburg-based travel agency announced its bankruptcy on Wednesday, reportedly leaving thousands of Russian travelers stranded in different parts across the globe.

According to Chalkiadakis, local hotels had been aware of the tour operator’s deteriorating finances and had demanded pre-paid contracts. He added that the bankruptcy would result in the loss of only 80 Russian clients who had booked their Cretan holidays through Neva.

Meanwhile, Russian tourism on Crete was down 5 percent this year compared to the previous year when some 525,000 Russians had visited the island, while travelers from Ukraine this year were expected to show a 50 percent decrease from the 45,000 of Ukrainians who visited last year.

Making up for these losses was a 20 percent rise in visitors from Germany this year, as well as an increased number of travelers from Italy and Israel.

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