STR: Greece Registers Best January Room Rate Since 2009

Photo: NEW Hotel, Athens.

Greek hotels reached their best level for the month of January in terms of their average daily rate (ADR), according to STR’s January report for hotel performance in Europe. STR is a global data benchmarking and analytics specialist for multiple market sectors.

According to the STR’s monthly survey, Greek hotels achieved an ADR increase of 8.6 percent at 93,81 euros in January 2018, while the average revenue per available room (REvPAR) increased by 5.6 percent to 46,36 euros.

“Athens, one of the region’s top markets for performance growth in 2017, opened the year with a 13.5 percent jump in RevPAR, driven mostly by a 10.4 percent increase in ADR,” the report said.

Europe hotel performance for January 2018

Europe’s hotel industry posted growth across the three key performance metrics during January 2018, according to data from STR.

Last month, European hotels recorded an increase in occupancy by 3.4 percent to 58.6 percent, a rise in ADR by 2.2 percent to 97.88 euros and an increase in the RevPAR index by 5.7 percent to 57.39 euros.

The report noted that the indexes of Greek hotels are still below the European average, while the occupancy index in January 2018 dropped (-2.7 percent) in the country.