Estonia, Tourism
International Internet Magazine. Baltic States news & analyticsTuesday, 09.02.2010, 07:31
Estonian hotels’ turnover fell by 30% in 9 months
Juhan Tere, BC, Tallinn, 20.11.2009.
Print version
Print versionIn nine months of 2009, the turnover generated by hotels in Estonia has fallen by nearly 30% and the fall will be even bigger in the fourth quarter, writes Äripäev.ee/LETA.
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The head of Estonian Association of Hotels and Restaurants Feliks Mägus noted that the hotel operators are also concerned over the increasing number of enterprises with debts and the total volume of debts.
According to him, the increase in the VAT rate had a painful effect on the sector while it has not increased the State’s tax revenue either. “It is clear that for many hotels, the coming winter will be very cold,” said Mägus.
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