Barometer: Greek Hoteliers Optimistic On The Outlook Of Third Quarter

The latest tourism barometer report on the expectations of the Greek hospitality sector for the third quarter of 2013, conducted by GBR Consulting, reflect a very positive sentiment among Greek hoteliers.

According to the report, this development is not suprising as the Greek tourism sector is on a very positive track this year, which already has been confirmed by positive official figures of the first months of 2013.

The report, however, points out some differences recorded between resort and city hotels:

• City hotels
City hoteliers are very positive on developments of their occupancy rates for both Q3 as well as 2013 as a whole. However, they are not that optimistic for their room rates. For 2013 the ARR is expected to stabilize for their own hotels, while room rates for the market in general are expected to decrease.

• Resort hotels
Contrary to the city hoteliers, resort hoteliers are very positive on all aspects measured. They expect significant increases in occupancy levels and room rates for Q3 and 2013 as a whole, for both their own hotel units as well as for the market in general.

All hotels

Overall hoteliers are very optimistic on the outlook of the coming quarter. A fast majority expects significant increases in occupancy and room rates for the third quarter of 2013. Very few hoteliers expect that their occupancy levels and ARRs will decline in the coming period.

The outlook for 2013 as a whole is very positive as well. The hoteliers that do not expect growth in 2013 expect that their room rates will be dropping faster their occupancy levels.

Overall, however, the climate is very positive with a majority of hotels expecting significant increases for both occupancy and room rates and for both their own hotels as well as for the market in general.

For the full results of the study, press here.