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Atlantica Hotels & Resorts, 50% of which belong to TUI Travel PLC, and a leading Russian tour operator Natalie Tours have agreed to built jointly not less than 20 four & five-star hotels in Greece in the next five to seven years. Both sides met within the framework of Russian- Greek Business Council meeting held as a part of the 6th session of a Joint Russian-Greek governmental commission on economic, industrial, scientific and technological cooperation.
Declaration was made by heads of both companies during a press-conference held in Athens’ Divani Caravel Hotel on February 19, 2008. The aggregate investment volume is calculated around 1,2 bln euros whereas both sides plan to invest 600 mln and another 600 mln will be collected from side investors. Prime areas for construction include Peloponnese, Rhodos, Crete and Kos. This will help both companies to considerably strengthen their positions in their respective sectors of economy.
Mr Dimitris Nikolaides, Managing Director of Atlantica chain of hotels told mass media that fruitful cooperation with the Russian tour operator began several years ago in Cyprus. This Russian company has much in common with TUI’s ways of business. Being himself one of those who lured the Russians into the Greek market Mr Nikolaides has no doubts of a positive result of this step for Greece. The new areas of cooperation push relations between partners to new heights. New hotels will become part of Atlantica chain. The famous standards of both Atlantica and TUI will be adaptively introduced for Russian market. Russian tourists will become same priority as British or German ones. With that Atlantica plans to gain leading positions among hotels chains in Greece.
Mr Vladimir Vorobiev, President of Natalie Tours, noted that amount of Russians having their vacations outside Russia is constantly and considerably growing. If economic growth in Russia continues with the same figures the number of tourists for abroad will grow from present 4 mln to 15 mln in the next 5 years.
In Mr Vorobiev’s opinion Greece can and should become a priority country for Russian people to travel to. Its part in tourism for Russian market can grow from today’s 10 percent to 30 percent if several restraining factors would be dealt with. The amount of Russians coming to Greece can reach 4 mln people by 2012. Natalie Tours being a leader in sending Russian tourists to European countries plans to cover 30 to 35 percent of the market, i.e. some 1.2 – 1.5 mln tourists a year.
This will require not less than 40 to 50 thousand additional rooms for Natalie Tours’ tourists only. Realizing the problem of hotel rooms’ lack the Russian tour operator addressed its old partner and suggested new areas of cooperation. The idea got support on the part of Atlantica Hotels. It is meant that additional 10 thousand new rooms will be constructed. But this will satisfy demand only partially. Both partners will continue to work in that direction.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
