ECONOMY

Over 40 Athens hotels have closed down since 2010

The Esperia Palace is just one of the 41 hotels in Attica that have shut down over the last three years, according to data presented on Wednesday by the chief of the local hoteliers’ association, Alexandros Vassilikos, reflecting the extent of the problems being suffered by the capital’s tourism industry.

The data showed that the decline in occupancy at Attica hotels amounted to 13.4 percent last year compared with 2011, while prices have dropped by 7.8 percent year-on-year.

Even though this month has also shown signs of decline, Vassilikos expressed optimism that 2013 could under certain conditions prove to be a stable year for Athens tourism. These conditions are political stability and the absence of threats of violence by demonstrators or protesters in the city center.

Compared with 2007, the drop in hotel revenues in the capital came to 58 percent for two- and three-star units, 34 percent for four-star hotels and 37 percent for the five-star ones.