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