Interest rates in the euro zone will differ significantly from country to country for years to come, Ikkos said in an email. “Weaker” euro economics in Greece, Spain, Italy and Portugal will face higher cost of capital for development and very limited financing.
“The above situation favors existing owners, particularly non-leveraged ones,” he added. “This will be particularly important in Greece where there is an oversupply of hotel accommodation. … Over the years, banks had been financing hotels based on their value as real-estate assets rather than ongoing businesses. Therefore, the current crisis may have serious implications for hotel values following sharply increased interest rates and a severe liquidity crisis. So far, this has not come up to the fore as banks have retained hotel loans and associated collateral at historical/face value, in order to avoid writing losses on their balance sheets and bringing down vital adequacy ratios according to the (Basel) criteria.
Finding Affordable Golf Accommodation in Spain « My Blog
Golf has been a massively popular sport for many years with its popularity spanning all age groups. The popularity of golf as a sport is based upon the fact that it is relatively cheap sport to get started in, get yourself a set of cheap golf clubs and away you go. The popularity of golf has spurned a massive industry in golf holidays to destinations all over the world but the most popular golfing destination in the world with tourists is Spain. The climate in Spain lends itself perfectly to all year round golf with the temperature in many places rarely dropping below 18 degrees, this sort of weather is very agreeable to golfers who may otherwise be playing at home in temperatures not much above freezing.
People have traveled to warmer climes for many years but historically it has been an expensive pastime traveling to play golf abroad that was until the low cost airlines started to fly to destinations within reach of the golf resorts. As soon as the low cost airlines started to fly to airports within touching distance of Spanish golfing resorts these resorts saw a massive increase in the amount of foreign players that would turn up and stay for a week or even a weekend.
Not only has Spain got the perfect climate for golfers but it boasts many championship quality golf courses which are kept in pristine condition and are challenging to play. Of all of the destinations that are popular with golf tourists Andalucia is by far and away the most popular with over 65 top quality golf courses and a wonderful all year round climate. Golf tourists have no limit to the amount of affordable golf accommodation in and around the golf courses in Andulacia. As many of the golfers who travel to Andulacia for a golfing break are there for nothing more than the golf the accommodation is not a major factor; as long as it is clean and comfortable it will generally do. The main factor when choosing affordable golf accommodation is its proximity to the golf course.
For many clients, self-catering apartments and villas can help stretch a holiday budget further than hotels. Peter Ellegard talks to accommodation-only
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If you have to bring in workers you have to pay for work permits and accommodation etc. It costs ten times more than using a local workforce,” Mr Kral said.
Our complete guide to hotel holidays, self-catering and villa breaks in Spain, from big tour operators to independent specialists. and more »
Northern Spain: an insider's holiday guideOur expert guide to holidays in northern Spain, including information on travel, hotels and accommodation, museums, and sights. By Annie Bennett EasyJet and more »