GBR: Stronger Arrivals Spur Athens Q1 Hotel Revenues

Athens, Greece.

International arrivals to Athens International Airport have stimulated revenue for the Greek capital’s hotels in the first quarter of 2018, according to GBR Consulting’s quarterly hospitality newsletter released on Wednesday.

Providing an outlook of the Greek hotel industry for the first quarter of 2018, the report found that due to a y-o-y 27.1 percent rise in the number of Q1 international arrivals, RevPAR at Athens hotels increased by 14.6 percent y-o-y thanks to growing occupancy levels and room rates.

In the northern port city of Thessaloniki, meanwhile, occupancy levels dropped in the first quarter with an increase of ADR, which led to an overall RevPAR improvement of 1.4 percent y-o-y. The report cites a reduction in the number of international arrivals in the first quarter of 2018.

Thessaloniki, Photo Source: Thessaloniki Hotels Association

Thessaloniki Airport manager Fraport Greece said maintenance works at the airport explain the decrease as a number of airlines were forced to reroute to Kavala Airport, which handled 32,000 arrivals in Q1. The report goes on to note however that taking into account the Kavala figures, Thessaloniki would have a recorded a 9.9 percent increase y-o-y.

At the same time, Greek resort hotels also saw RevPAR rise by 33.8 percent y-o-y with Q2 data set to provide a clearer picture for the year.