Grecotel expects 6.0 pct rise in overnight stays this year

Grecotel SA expects an increase in overnight stays at its hotels and higher operating earnings this year. Presenting the first official forecast for the 2011 tourist season, Marie Daskalantonaki, Grecotel’s chief executive officer, said the company expected a double-digit growth rate in tourist arrivals from the UK and eastern European countries and a slight increase in tourist arrivals from Germany and other Central European countries, for now. Grecotel’s figures were based on a forecast model including existing online reservations, tour operators sales and charter flights.

Grecotel forecasts that overnight stays at its hotels to total 1,443,000 this year, up 6.0 pct from 2010, with a turnover of around 120.5 million euros and gross operating earnings of 48 million euros.

The company said it would increase its sales campaign abroad by 30 pct this year. Grecotel, which is 50 pct owned by TUI A.G., was founded in 1981 and currently operates 22 hotels around Greece value around 869 million euros.