Greek hoteliers reject TUI AG’s Euro demand

Greek hoteliers face a demand from TUI AG to sign new contracts detailing how they will pay bills if the country leaves the euro zone and starts using a new currency.

Greek National Tourism Organisataion president Andreas Andreadis reportedly said that several Greek hoteliers had received the letter from TUI, owner of UK-based Tui Travel and were asked to sign it.

“No hotelier will do that and we turned to the Greek ministry of tourism. Tui can not put pressure on hoteliers to sign such a thing,” he was quoted in the German newspaper Bild as saying.

A Tui AG spokesmen confirmed to news agency Reutersthat the Tui Nordic unit had sent the letters. “As a responsible company, we should protect ourselves for a potential exit of Greece from the euro zone,” he said.

He confirmed the newspaper report in Germany, which included an extract from the letter which said: “If the euro should no longer be the currency, Tui is entitled to pay the sum of money in the new currency. The exchange rate shall be made at the exchange rate set by the government.”

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