Jan-April Occupancy, Revenues Rise But Athens Hoteliers Still Disappointed

Occupancy levels, revenues, and room rates increased in the first four months of the year but hoteliers in Athens are still disappointed by the performance.

More specifically, according to data released this week by the Athens – Attica & Argosaronic Hotel Association, average occupancy reached 68.7 percent in the January-April period up from 63.9 percent in 2023 up by 7.6 percent.

Average daily rate (ADR) also rose by 7 percent over the four-month period in 2023 to 110.77 euros up from 103.52 euros with revenue per available room (RevPAR)increasing by 15.1 percent to 76.12 euros up from 66.13 euros in 2023.

Once again, compared to rival cities Athens had the lowest room rates. Indicative rates: Barcelona (169.88 euros), Madrid (153.57 euros), Rome (195.97 euros), Paris (295.11 euros), London (194.09 euros), and Amsterdam (161.97 euro).

RevPAR, meanwhile in Barcelona came to 124.18 euros, Madrid (112.11 euros), Rome (126.40 euros), Paris (209.23 euros), London (144.21 euros), and Amsterdam (111.44 euros).

According to the data, of the four months April was the best performing with occupancy levels at 84.7 percent, ADR at 138.81 euros up from 124.35 euros a year ago, marking an 11.6 percent rise, and RevPAR at 117.56 euros up from 94.15 euros in April 2023 marking a 24.9 percent increase.

In the first three months of 2024, occupancy levels at hotels in Athens grew by 5.6 percent to 63.5 percent, compared to Q1 2023.

Athens–Attica hoteliers expressed their disappointment in a statement, citing the need for further regulation of short-term rentals, measures during peak season to address the crowds at archeological sites, museums and highly-visited areas, and improved infrastructure in the city.