by Adam Dunning November 8th, 2011
Travel firm TUI has asked hoteliers in Greece to agree to new terms regarding payments if Greece leaves the eurozone.
A spokesman for the German tour operator confirmed in an interview with German newspaper Blid that the company had written to its partners in Greece to prepare for the possibility of Greece opting out of the euro in favour of using its own currency. Robin Zimmermann said on behalf of TUI that ‘as a responsible company’ that his firm needed to protect itself in regards to Greece possibly leaving the eurozone.
TUI reportedly said in the letter that it would have the right to pay hotels in whichever currency Greece was using and that the exchange rate used would be in accordance with the government exchange rate set at the time of the transaction.
But the move is likely to draw fire as Andreas Andreadis of the Greek Tourist Board said to Blid that no hotels would agree to the request and that TUI could not pressure local hoteliers into adopting the new policy.
Last year saw more than 2 million Germans travel to Greece, which made them the largest group of foreign nationals visiting the Mediterranean country in 2010.