Spain ‘to suffer 500 hotel closures’ due to Thomas Cook failure

As many as 1.3 million holidaymakers will be unable to fly into Spanish destinations this autumn and winter due to the Thomas Cook collapse.

This will result in at least 500 hotels being shut down, generating losses to the tourism sector running into hundreds of millions of euros, according to the Spanish Confederation of Hotels and Tourist Accommodation.

The Spanish government previously announced a package of measures worth €300 million, including emergency credit lines and a reduction in airport fees, particularly for hubs in the Balearic and Canary islands, plus plans to spend €500 million in improving tourism infrastructure.