Viv- agree the prices are appalling BUT they are accepted when on commitment because it is a guaranteed income whether occupied or not- also the apartment owner does not have to spend any money on publicity themselves, as well as facing the insecurity of being in competition with all the other independent apartments...sure there are many more independent beds on Corfu than there are independent seats on planes!
I agree with Jan, I think I am correct in saying that they get a payment upfront early in the year...which helps their cashflow in the winter when they are on contract. In todays market being independent seems to me to be a somewhat more exposed strategy.
I thought it was the other way round, payment at the end of the season by British TO's?? Lots of people got burnt with the collaspe of Golden Sun, Kosmar and Libra. The good independants are thriving because they invest their earnings and upgrade their properties. I could name four in Agios Gordios where you have to book a year in advance.
Message posted by mousey on 31 July 2011 at 10:22pm - IP Logged
Unless things have changed a lot payment by commitment is on contract with specified dates for payment of each percentage.
Allotment bookings are paid when clients have departed.
Whilst agreeing that tour operators are FAR from perfect a lot of delay in suppliers getting paid is due to the Corfu local agent retaining the money paid to them by the tour operator (on time) to distribute- can be over a year in some cases!
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