Athens Hotel Occupancy Levels Rise by 69% in Jan-Feb

Posted by On March 31, 2023 0 Comment
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Athens saw hotel occupancy levels rise by 69.9 percent in the first two months of the year compared to 2022 setting the scene for a positive spring season, according to the latest data released by the Athens – Attica & Argosaronic Hotel Association in cooperation with GBR Consulting.

However, January-February figures were still down by 6.5 percent on pre-Covid 2019 figures.

More specifically, average occupancy in January this year at Athens-Attica hotels reached 50.9 percent (compared to 26.7 percent in 2022 and 50.7 percent in 2019), showing an increase of 90.2 percent compared to 2022 and 0.3 percent compared to January 2019.

Meanwhile, occupancy levels at Athens hotels in February reached 58.0 percent (compared to 37.6 percent in 2022 and 64.6 percent compared to 2019), up by 54.0 percent compared to 2022 and down by 10.2 percent compared to the same month in 2019.

The Average Daily Rate (ADR) at hotels in Athens during the first two months of the year increased by 32.1 percent over the same period in 2022 and by 11.9 percent compared to 2019. In detail, according to the data provided by GBR Consulting, the ADR for hotels in the Greek capital in January reached 90.60 euros compared to 67.68 euros in 2022 and 80.33 euros in 2019, showing a 33.9 percent rise compared to 2022 and a 12 .8 percent increase compared to 2019. For February, the ADR was 92.12 euros compared to 70.37 euros in 2022 and 82.84 euros in 2019, recording a rise of 30.9 percent compared to 2022 and of 11.2 percent compared to 2019. Total percentages of change in the first two months: (+)32.1% (2023-2022) and (+)11.9% (2023-2019).

Revenue per available room (RevPAR) in the same period rose by 124.4 percent in 2023 over January-February 2022 and by 4.7 percent when compared to 2019.

According to the city’s hotel association, given that January and February are usually slow in terms of tourist flows, the performance achieved so far indicates a good spring season ahead.

“The trends so far demonstrate that barring unforeseen circumstances, the new tourist year for Athens hotels will evolve smoothly, particularly from April onwards, mainly due to the gradual recovery of the conferences and events segment,” the association said in a statement.

Athens hoteliers add that government actions to ensure fair market conditions through the regulation of short-term rental activity, business funding opportunities and improved employment conditions are also expected to give the sector a much-needed boost.

source: GTP