hospitality
Hospitality
Overview

Hospitality services include all types of touristic services for travelers, visitors and groups. Greece is a favorite travel destination thus tourism is an important sector of the Greek Economy. 

The country’s facilities and infrastructure are able to support and offer a vast variety of services and activities. The location and the morphology of Greece provide an optimum environment that promotes both entertainment and leisure.

The PEST indexes are stable therefore Political, Economic, Social and Technological factors form favorable conditions for visitors, travelers and investors.

Greece offers an extensive coastal area, with excellent quality shores surrounded by rich natural resources, unique antiquities, important cultural monuments and traditional settlements. A wide range of options and resources are also available as to the development of alternative forms of tourism & activities. 

The transportation accessibility (by air, sea and vehicle from Europe, Asia, Africa and overseas) is very easy due to a large number of mainstream urban centers.

The total participation of the Tourism Sector in GDP amounts to 20,80%, while the total participation in employment amounts to 21,70% of the total employment. The total Employment is estimated at 946,200 working positions.

Revenues from inbound tourism amounted to 17,70 billion Euros (excluding the cruise revenues). Total arrivals of non-residents were 31,30 million (excluding the cruise arrivals). The average per capital expenditure / consumption amounts to 564,00 Euros (excluding the prime cost of the cruise amounts).

Seasonality is 56,00%. The majority of foreign arrivals occur during the months of June - July - August - September, while the months before and after depict a significant number of arrivals as well.

The 70.00% of hotel beds are concentrated in 4 areas of Greece. The total Hotel Infrastructure for the year 2019, concerns 10,121 hotels and 798,650 beds.

As a matter of fact, any possible investment options could be set up in an environment with symmetric information.

Strategically :

  • Equity investment and valuation such as land, building (location)
  • Portfolio of services
  • Market penetration
  • Vision
  • Targets (ratios, modeling, benchmarking)
  • HR specialization

and

Operationally :

  • Working capital requirements
  • Types of services / segmentation
  • Staff
  • Extended Life cycle

The process regarding the development of a model (BUSINESS SCORECARD MODEL) measurement and the evaluation of commercial products responsiveness would consist part of the business plan implementation and in particular:

  • Measurement Model - Balanced Performance Scorecard, which will include pilots and indicators with quantitative and qualitative data, registration of new services.
  • Benchmarking Analytics (performance measurement) for the interpretation and use of financial and qualitative results of the services

The location of every investment is of utmost importance due to both Greek and the EU legislation law. Synergies with the real estate business sector could provide higher benefits.

The building requirements must appertain to the law requirements which are stipulated by the Greek Tourist Organization (EOT). The relevant equipment (for food and leisure provisions) would be procured either from Greece, EU or third Countries. CE certifications are necessary.

Qualified personnel would be short listed in order to be evaluated and hired.

At all cases hygiene and safety measures must be in compliance with the provisions of the current legislation without any exemptions.

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