Drachma clause demands are a deja-vu for hoteliers

Hotel enterprises could be forgiven for thinking they have been catapulted back to 2012, when the country found itself on the verge of exiting the eurozone, as major foreign tour operators have once again started asking for drachma clauses in contracts for the 2016 tourism season.

Furthermore, there are some operators who are going as far as to demand that contracts for next year also contain clauses regarding a possible tax hike, insisting on any additional taxes being covered by the hotels.

Hoteliers, who should be signing next year’s deals at this stage, are unable to do so due to uncertainty regarding tha value-added tax that apply to tourism services in 2016.

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