Athens: Hotel Occupancy Up, Revenue Down in June 2015

Hotels in Athens, Greece, saw occupancy rise 3.2 percent to 90.5 percent last month, according to data released on Friday by STR Global on the European hotel industry for June 2015.

However, the average daily rate (ADR) in the market was down 3.8 percent to 135.04 euros and revenue per available room (RevPAR) decreased 0.7 percent to 122.17 euros.

“Demand in the market remained strong despite the month’s uncertainty about Greece’s participation in the Euro and agreement of a third European bailout in Greece”, STR Global noted.

According to STR Global, compared to June 2014, Europe reported a 4.5 percent increase in occupancy to 78.1 percent, a 5.5 percent increase in average daily rate to 122.10 euros and a 10.2 percent increase in revenue per available room to 95.34 euros.

In regards to the performance of other featured markets besides Athens for June 2015:

Lisbon, Portugal, reported a 7.7 percent increase in occupancy to 84 percent, a double-digit growth for ADR (+19.8 percent to 104.26 euros) and RevPAR (+29.0 percent to 87.58 euros).

Milan, Italy, experienced double-digit increases for occupancy (+10.9 percent to 76.5 percent), ADR (+29.5 percent to 177.63 euros) and RevPAR (+43.7 percent to 135.82 euros).

Zurich, Switzerland, reported increases in occupancy (+3.2 percent to 83.8percent) and RevPAR (+2.5 percent to CHF206.89). ADR in the market fell 0.6 percent to CHF246.74.

STR Global benchmarks hotel data for over 6.4 million hotel rooms worldwide.