500 Hotels in Spain On Verge of Closure

Thomas Cook - plane

CBJ — It’s believed about 500 hotels in Spain face imminent closure due to the sudden and unexpected collapse of British travel giant Thomas Cook.

The head of Spain’s Confederation of Hotels and Tourist Accommodation is pleading with the Spanish government to intervene although it’s unclear what it would be able to do.

The sum total of the unpaid bills left by the demise of the tour operator is expected to far exceed original estimations of $220 million.

Of those hotels facing immediate closure, 100 are exclusively dependent on Thomas Cook. Worst hit are those in the Canaries and the Balearic Islands, where 40 per cent of hotels are affected.

@CanBizJournal

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