Hotels trapped by sour credit from banks in liquidation

Tourism Minister Haris Theocharis made a public intervention on Wednesday regarding the bad loans of hoteliers in the portfolios of banks that are under liquidation, as this represents a major problem for the tourism domain.

“The exceptionally delicate exercise of supporting healthy enterprises and tracking down strategic defaulters without strangling tourism growth will have to be implemented with professionalism, fairness and transparency,” the minister said.

The issue of tourism enterprises’ sour loans as well as issues related to the loans of companies associated with credit institutions in a clearance process were the subjects of a meeting on Wednesday between the ministry and representatives of PQH, which operates as a special administrator for all credit institutions under liquidation in Greece, such as the “bad” part of the former ATEbank.