Greek government to implement strict measures to stop illegal home-sharing in 2020

The rapid rise in Greek tourism arrivals has been accompanied by a major increase among Greek apartment and villa owners listing their properties on Airbnb. This has prompted the Greek government to take action, given the role hotels play in the Greek tourism market, and the difference in taxation, safety regulations and other issues between different tourism hosting providers. In previous years, the Government required Airbnb owners or managers to register their Airbnb-hosted apartment. According to the Independent Authority for Public Revenue (AADE), between 01.01.2018 and 30.01.2019: 51,513 property units were registered The rental turnover from these units reached € 186,000,000 The compa

Thomas Cook Germany cancels 2020 trips

Following the collapse in September of tour operator Thomas Cook UK, its German subsidiary, Thomas Cook GmbH, has announced that it has cancelled all its scheduled trips for 2020. Thomas Cook Germany is the second-largest tour operator. It’s cancellations leave 660,000 customers and 2,100 employees affected. The cancellations also apply to any bookings made through Thomas Cook Signature, Thomas Cook Signature Finest Selection, Neckermann Reisen, Oeger Tours, Bucher Reisen and Air Marin, as well as flights booked through Swiss company Thomas Cook International. Thomas Cook GmbH had filed for protection from its creditors in September and had failed to find a buyer. Insurer Zurich Germany said

Bank of China opens its first branch in Greece

The Bank of China has opened its first branch in Athens, Greece. The Bank of China is one of the four largest state-owned banks in China, with total assets of $ 3.09 trillion and some 311,000 employees. By opening a branch office in Greece, the Bank of China signals its support for further Chinese investment in Greece. This has been led by the COSCO privatisation and operation of part of the Port of Piraeus, but also by the thousands of individual Chinese investors who have bought properties in Greece and benefitted from the Greek Golden Visa programme. According to Keep Talking Greece: The Bank of China is the fourth largest bank in the world, its decision to open a branch in Greece will in

Dolphin Capital Investors receives license to build Kilada Hills

Dolphin Capital Investors has secured the required building permits for the construction of the Kilada Hills tourist resort in the Argolis area in Greece. On Friday 1 November, the Greek Minister of Development and Investment, Adonis Georgiadis, attended a special event for the signing of the first building license. Georgiadis explained that a new regulatory framework on building licenses for strategic investments will be issued by his ministry and noted that the investment was licensed in just three months (since New Democracy took power) after being blocked for years. Killada Hills is a €420 million project that will be implemented in two phases. The first phase consists of Greece’s first

Athens Airport privatisation attracts 10 bids

The Hellenic Republic Asset Development Fund (HRADF) recently tendered the first stage of the privatization of a 30% share in Athens International Airport (AIA). Expressions of interest have been submitted by 10 leading investment consortia, including some of the largest airport operators in the world. The bidders are: ADP Groupe APG Asset Management Avialliance Gmbh Consortium of Ardian Infrastructure Fund S.C.A, SICAR and Ardian Infrastructure Fund V B S.C.S. Sicav – Raif Consortium of KKR – Egis Consortium of MEIF 6 Attic Investment, Raffles Infra Holding and Chengdong Investment Corporation Ferrovial International Se First State Investments Global Infrastructure Partners Vinci Airports A