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Athens News Agency: News in English, 10-04-28

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] Athens hotels' prices down
  • [02] ASE: midday technical recovery

  • [01] Athens hotels' prices down

    Athens hotels' revenues fell 7.0 pct in the first quarter of 2010 to an average revenue per available room at 49.46 euros, while average room occupancy rates fell by 1.0 pct to 48.6 pct and the average room price fell 6 pct to 101.77 euros, compared with the same period last year, the Association of Athens-Attica Hoteliers said on Wednesday.

    The figures, compared with other rival destinations, showed that Athens recorded the worst performance in the 11 cities of the list and the only city recording a decline. London (75.8 pct), Paris (68.5 pct) and Munich (64.5 pct) recorded the highest room occupancy rates, while Istanbul (61.4 pct) ranked sixth with an annual increase of 12 pct. Athens recorded the fifth lowest price below Paris, London, Rome and Istanbul.

    Commenting on the figures, the Hoteliers' Association said they were in line with initial estimates for the year and stressed that any figure better than -8.0 pct in revenue losses would be a welcome scenario for Attica. It also said recent decision by the government to abolish cabotage in sea cruise was a very positive development, although it stressed that the Athens International Airport remained one of the most expensive airports in Europe. It also welcomed a decision to expand a program subsidizing social insurance contribution of jobs in the hotel sector.

    [02] ASE: midday technical recovery

    Greek stocks showed signs of a technical recovery in the Athens Stock Exchange, with the composite index of the market rising 2.10 pct in midday trading on Wednesday. Investors seemed to ignore a new rally in the yield spread of the 10-year Greek benchmark bond to 820 basis points, reacting positively to news of rapid progress in negotiations between Greek authorities, the European Commission, the European Central Bank and the International Monetary Fund over activation of a support mechanism for Greece.
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