http://www.ft.com/cms/s/0/8c77bc1c-2848-11de-8dbf-00144feabdc0.html?nclick_check=1

 

The Greek tourist industry faces a grim summer, with bookings down by 25 to 30 per cent as recessions deepen in Germany and the UK, Greece’s main tourist markets.

Dozens of four-star and five-star hotels in Crete, Rhodes and Corfu, the most popular islands, decided against opening for Easter, the traditional start of the season, in an attempt to keep down costs.

“Many hotels will stay closed in April and May and hope to break even over the peak months,” said Nikos Angelopoulos, president of SETE, an industry group.

Hoteliers also face constraints because banks are cutting lending to the tourist industry, in spite of a €28bn ($37bn, £25bn) government support package aimed at sustaining small and medium-sized businesses, said Mr Angelopoulos.

The €35bn tourism industry is Greece’s biggest employer, but more than 50,000 jobs could be at risk if hotels shut down during the “shoulder” seasons in spring and autumn

 

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