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Greece: New government measures to boost tourism industry

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Company “Casino-Resort Mont Parnes” to be privatised Minister of Development Nikos Christodoulakis said in a press conference last week  at the offices of the Greek Tourist Organization (EOT ) that the new unwavering new policy on the Greek tourism sector is designed to broaden development as well as alter the industry as we know it.

Christodoulakis said that the new policy is aimed at restructuring the tourism industry, as well as will boost the country’s economy and in the long-term generate many jobs, in light to the 2004 Olympic Games in Athens.

The Minister said that the privatisation of the Mont Parnes Casino would be conducted through an international tender that will be under the aegis of the Hellenic Tourism Property and the sale of a package of shares of the subsidiary company “Casino-Resort Mont Parnes”. The government aims to sell the company to a strategic buyer that assume the management and take the company to bourse entry through a public subscription offer some time in 2002.

The privatisation of the company Casino-Resort Mont Parnes will upgrade its two hotels as well which hold some 433 rooms in total, all of Lux quality. At the same time the sell-off will rebuild the helicopter airport, make major reservations on the teleferik and generally give a much-needed facelift to all facilities.

Other works set to generate jobs, as well as broaden tourism activity, include the marinas of Zea (in Piraeus), Flisvo, Alimo and Vouliagmennis.

The share offering of ETA and an expected entrance on the Athens Stock Exchange (ASE) is going to be conducted with the issuing of tourism pre-shares of which will cost 700 million Euro or 240 billion drachmas and will offered to primary, institutional and private investors. The pre-shares will be allowed to be exchanged with shares from ETA AE. and its subsidiaries.

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