Greek hotel market records 37% drop in turnover for 1st quarter

The first time it fell for the past 3 seasons

The Greek accommodation sector experienced a huge 37% drop in turnover in the first quarter of 2019, in comparison to the corresponding period last year, according to data presented in the index bulletin in the sector of accommodation and catering services of ELSTAT.

This is the first season in the last three years when the relative turnover indicator recorded a fall compared with increases in previous years, with the exception of the first quarter of 2016, when there was a marginal decrease, the first decline recorded in the industry over the last five years.

The survey for the above index includes companies with an annual turnover equal to or above EUR 220,000 for the accommodation sector.