Bankrupt German tour operator FTI on Tuesday sought to assure hotels hosting guests who traveled to Greece with the company and became caught up in its insolvency proceedings would be covered.

The chief executive of the Hellenic Hotel Federation, Yannis Hatzis, posted a letter on social media in which FTI clarified that "the statutory cover provided by the German Travel Protection Fund (DRSF) applies" to all travelers who made a package holiday reservation through FTI.

It went on to ask hotel managements to “refrain from holding individual guests on site,” as letters with detailed billing instructions were on their way out to all FTI partners.

It is estimated that there are currently around 7,500 FTI customers holidaying in Greece, with the majority being on the island of Crete.

ALEXANDROS VASILIKOS STATEMENT

Responding to a journalist's question regarding the bankruptcy of Munich-based FTI, the President of the Hotels Federation, Alexandros Vasilikos, made the following statement:

It proves once again that tourism does not lend itself to either over-optimism or complacency, since from one moment to the next, many facts can be overturned.

From one moment to the next, it is up to all of us to ensure that the visitors who are in our country through this tour operator receive warm Greek hospitality. However, it cannot always be the case that dealing with such problems is left solely to the philanthropy of the hotelier, who also suffers the financial loss.

A European legislative umbrella must be created immediately, which will allow Member States to intervene to protect the rights of consumers, visitors, and hoteliers alike. Now, in this particular case, we are working with the Ministry of Tourism and the government to explore how the financial losses for our member hoteliers can be mitigated.