GBR: Greek Hoteliers Expect Higher Occupancy Rates in 2018

More than half of Greece’s hoteliers are expecting occupancy rates to increase by at least two percent while 70 percent estimate that room rates will improve by two percent compared to 2017, according to a survey released this week by GBR Consulting.

Resort proprietors are expressing even greater optimism with 71 percent estimating occupancy levels will increase by more than two percent and 78 percent foreseeing price improvement of two percent and more.

According to the study, the positive momentum in terms of revenue will continue into 2018. Relevant data for 2017 found that revenue per available room grew by 8.7 percent in Athens, 9.2 percent in Thessaloniki and by 8.3 percent at resorts.

Athens recorded improved figures compared to Rome, which marked a 0.6 percent rise over the year but behind Madrid, which saw an 18.4 percent increase in 2017.

GBR Consulting goes on to note that in 2017, a total of 27.2 million foreign travelers (excluding cruise passengers) visited Greece, an additional 1.2 million than estimated.

Foreign vacationers spent a total of 14.2 billion euros, accounting for an 11.2 percent rise compared to 2016, with total revenue at 12.8 billion euros, below the set goal of 14.4 billion euros.

Travel receipts from German, French and UK travelers grew significantly by 32 percent, 17 percent and 12 percent, respectively, according to 11-month data. US spending rose by 4.8 percent, while receipts from Russian holidaymakers declined by 3.2 percent.

In terms of airport arrivals, 2017 saw an 8.6 percent rise in the number of international arrivals and a 6.1 percent increase for the number of arrivals by road.

The number of overnight stays, meanwhile, also increased to seven nights in 2017 compared to 6.9 nights in 2016.