Athens’ Hotels See Poor Occupancy Results

Hotels in the Greek capital saw a 6.1 percent revenue drop for the first eight months of the year while Attica is going through two of the most difficult months of the year (September-October) that will determine the size of the losses, according to the Athens-Attica Hoteliers Association.

“Any result on the revenue better than an eight percent drop for 2010 could be considered a success considering today’s situation,” the association said repeating an assertion it had made in January.

In late September the association distributed its results for January-August 2010, which showed that July and August were the most disappointing months in regards to occupancy rates and revenues. Specifically, four- and three-star hotels saw a decline in revenue per available room of -14,80 percent and -17 percent for the month of July that reached -26.20 percent and -24.70 percent in August, respectively.

The association stressed that figures were even more disappointing when the average room price is compared with Athens’ competitors in Europe.