ECONOMY

Four-star hotels more profitable than five-star units

Four-star hotels, such as this unit at Aghios Gordios on the Ionian island of Corfu, posted the biggest profit margins among the top three categories of hotels (three to five-star units) in Greece in the five years from 2009 to 2013, amounting to 26.7 percent, according to a study by the ICAP Group.

Five-star hotels registered an average profit margin of 14.7 percent.