Eurobank to take over nine hotels from debtors

TAGS: Banking, Tourism

Eurobank will start the process for the takeover of six hotel companies with nine units after the end of the tourism season, as, between them, they owe 130 million euros to the lender that now comprises nonperforming loans.

According to Constantinos Vassiliou, head of group corporate and investment banking at Eurobank, the hotels are located in the Dodecanese, the Ionian Sea, and one of them is in the Peloponnese.

The bank will take control of the enterprises either with the cooperation of their current owners or by using legislative provisions.

During a speech at the annual Greek Tourism Confederation (SETE) conference earlier this week, Vassiliou explained that, so far this year, Eurobank has issued loans adding up to 200 million euros for investments in the tourism sector, and has also approved another 250 million euros in loans for the same purpose.

Furthermore, for 2017, interest has been expressed for funding tourism business plans of 300 million.