Hundreds of hotels in Spain are facing imminent closure over the collapse of British travel giant Thomas Cook, the head of the Spanish hotel federation warned on Monday.
And the sum in unpaid bills left by the demise of the tour operator would be much higher than the initial estimate of 200 million euros , said Molas, whose organisation represents 15,000 businesses.Of those hotels facing immediate closure, 100 were exclusively dependent on Thomas Cook, he said, while the rest counted on the firm for between 30 and 70 percent of their clients.
Worst hit are those in the Canaries and the Balearic Islands, where 40 percent of hotels are affected. Industry experts fear the impact there could be even more devastating than elsewhere as the resort is very popular as a winter destination among tourists from northern Europe.