Greek Hoteliers put assets up for sale

May 2, 2016 Redazione

​After Greece’s 2015 economic crisis, many hoteliers are putting their valuable assets on the market well below previous market value. In January 2016, 5% of hotel owners put assets on the market. The total cost of these assets is well over €1.7 billion. Some of the hotels are being sold for as low as €250,000 which is less than a two-bedroom house in many parts of Western Europe. Even with over 480 properties for sale, the numbers of tourists are steadily increasing, especially in Macedonia and Crete. However, tourists tend to flock to the higher end of the chain scale, leaving small and midscale properties in trouble. 

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