ECONOMY

Thessaloniki hotels see occupancy rates slump

Hotels in Thessaloniki showed a 20 percent reduction in turnover and a 9 percent drop in prices in 2010 compared to the year before, the president of the Thessaloniki Hoteliers Association, Aristotelis Thomopoulos, stated on Monday.

He added that the average occupancy rate of hotels in Greece?s second-largest city showed a decline of 13 percent, ending up at just 42 percent for the whole of 2010.

The fall was especially steep regarding overnight stays by tourists from Western Europe, i.e. Germans, Italians, British and Spanish, as well as those from the United States.