Greek Q3 Hotel, F&B Services Turnover Hit Hard by Covid-19

Photo: GTP

Greek hotel and F&B services providers saw turnover plunge in the third quarter (Q3) of the year hit hard by the Covid-19 shock with losses coming to 3.2 billion euros, the Hellenic Statistical Authority (ELSTAT) recently announced.

More specifically, accommodation sector Q3 turnover slumped by 61.4 percent to 1.56 billion euros against the corresponding period last year from 4.03 billion euros.

In terms of performance, the regional unit of Karpathos recorded the largest overall decrease by 84.3 percent in Q3 turnover compared to the same quarter in 2019 with the  smallest decrease (4.2 percent) recorded in Grevena.

Meanwhile, Q3 turnover in food and beverage service (F&B) activities came to 1.58 billion eros down by 31.2 percent against Q3 2019 from 2.29 billion euros.

Karpathos again posted the greatest Q3 losses against 2019 down by 69.5 percent with the smallest decrease (0.8 percent) recorded in Serres.

For accommodation enterprises obliged to keep double-entry bookkeeping, turnover in September came to 471.68 million euros, down by 48.9 percent compared to September 2019, from 922.74 million euros.

Karpathos island. Photo Source: http://likenoother.aegeanislands.gr

With regard to enterprises with a contribution to total 2019 greater than 0.5 percent, the largest decrease in September was recorded in the regional unit of Samos (79.7 percent), with the smallest decline (49.8 percent) recorded in Lefkada. 

Concerning F&B enterprises obliged to maintain double-entry bookkeeping, September turnover came to 105.14 million euros, down by 34.7 percent from 161.03 million euros against the same month a year earlier. 

For enterprises with a contribution to the total 2109 turnover greater than 0.5 percent, the largest September decline was recorded in Arcadia (94.7 percent) and the smallest (2.2 percent) in Xanthi, with largest rise (18.0 percent) in Ilia.