Athens Hoteliers See Occupancy Level Improvement in January-June

Athens hoteliers welcomed a rise in occupancy levels in the first half (H1) of the year, reaching 73 percent, up by 24.1 percent over the same period in 2022.

More specifically, according to the latest data released by the Athens-Attica & Argosaronic Hotel Association in cooperation with GBR Consulting, occupancy levels are fast approaching pre-Covid 2019 levels but still down by 3.0 percent.

Indicative of the tourist demand for the Greek capital, June occupancy levels at Athens hotels reached 93.2 percent, up by 2.8 percent over June 2022 and by 0.4 percent compared to June 2019.

Average daily rate (ADR), meanwhile, at Athens hotels in June came to 175.92 euros, marking a 19 percent increase over the same month a year ago and a 40 percent rise over June 2019 rates.

ADR for the January-June period came to 129.75 euros, marking a 17 percent rise over the first  six months of 2022 and a 26.5 percent increase compared to the same period in pre-pandemic 2019.

Analysts attribute the improved performance to higher prices in May (154.66 euros) and June (175.92 euros).

At the same time, Athens hotels are among the four cities together with Vienna, Berlin, and Madrid offering competitive prices. Indicative room rates at rival cities include: Istanbul, where the average room rate in June came to 185.42 euros, up by 92.8 percent over 2019. Hotels rooms in Barcelona in June went for 208.33 euros (+19.9 percent over 2019), 307.33 euros (+68.8 percent / 2019) in Rome, and 467.69 euros in Paris (+60.1 percent / 2019). Rooms rates in Athens, however, are still very low compared to rival cities, the city’s hotel association said.

Meanwhile, revenue per available room (Rev Par) in the first half of 2023, came to 94.65 euros, up by 45.2 percent compared to the same period in 2022 and by 22.7 percent over H1 2019. According to the data, June was the best-performing month with RevPAR reaching 163.87 euros, up by 22.4 percent over 2022.