Latest News
HomeRegional NewsEuropeAthens hotel recovery in full swing
Hospitality

Athens hotel recovery in full swing

In 2013, the downturn bottomed out, primarily due to a recovery in leisure tourism. From April onwards, occupancy levels significantly improved compared to 2012, while room rates stabilised. Occupancy rose 7.0 percent in 2013 to 56.8 percent.

LONDON – Hotels in Athens reported significant performance improvement in 2013, according to data from STR Global and GBR Consulting.

The market saw strong growth after the 2004 Olympic Games with significant increases in occupancy and average daily rate. This trend was reversed at the end of 2008 as a result of a prolonged period of social unrest.

“The period of social unrest caused a significant impact on the hotel industry in Athens as demand declined for the city”, said Elizabeth Winkle, managing director of STR Global. “However, the industry’s performance has been on an upward trend for nearly a year now, and we expect to see this trend continue. Positive news has emerged surrounding the economic situation and outlook in Greece. If this can be maintained, leisure tourism is expected to recover further because of the attractiveness of Athens as a destination”.

According to Stefan Merkenhof, managing consultant of GBR Consulting, “The impact of the Greek crisis on the Athens tourism industry in the period 2010 through 2013 has been significant with a total estimated loss of EUR2.5 billion for the sector as a whole, of which EUR820 million was for the Athens hotels. However, Athens tourism has been recovering since May 2013 as the negative headlines on Greece disappeared and a positive outlook started emerging. In the first two months of 2014, we have seen significant increases in international tourist arrivals at Athens as well as significant improvements in occupancy levels, albeit with stabilising room rates. With the leisure market solidifying and the return of the conference and incentive market to Athens, of which there are already clear signs, the city seems to be set for a substantial recovery, in line with its rich offering for leisure and MICE travellers alike”.

In 2013, the downturn bottomed out, primarily due to a recovery in leisure tourism. From April onwards, occupancy levels significantly improved compared to 2012, while room rates stabilised. Occupancy rose 7.0 percent in 2013 to 56.8 percent.


As a result of the occupancy increases, revenue per available room also improved significantly. RevPAR for the market increased 7.9 percent to 53.89 euros. The biggest increase in RevPAR was achieved by the Economy segment with a 13.2-percent increase, followed by the Upper Upscale segment with a 4.7-percent increase.

Co-Founder & Chief Editor - TravelDailyNews Media Network | Website | + Posts

Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.

She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.

28/03/2024
27/03/2024
26/03/2024
25/03/2024
22/03/2024