Sep 25, 2019

Hotels across Med suffer bitter blow from Thomas Cook failure

Hotel owners across the world are facing the same predicament after the demise of the 178-year old travel group, which went into liquidation in the early hours of Monday. Tom Smulders, vice-president of the Canaries' hotel federation, said the Thomas Cook group, including its German and Nordic affiliates, accounted for around 25 per cent of his sector's receipts. Scores of hotels on Corfu and Zakynthos in the Ionian Islands are also owed money, along with operators on Rhodes and Kos in the eastern Aegean. The financial pressure that the collapse of the British firm will inflict on European hotels has led to tensions between guests and hotel managers, with reports of hotels from Tenerife to Tunis handing bills to guests who had already paid hundreds of pounds to Thomas Cook. Stelios Asimakis, the owner of a medium-sized hotel in western Crete, said Thomas Cook had been a lifeline for many in his industry.

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