Athens-Attica Hotels Achieve 75.5% Occupancy Rate in First Half of Year

Photo source: Athens Capital Hotel – MGallery

The average occupancy rate for hotels in the Greek capital and the wider region reached 75.5 percent in the first half of the year, the Athens-Attica & Argosaronic Hotel Association reported on Thursday. This marks a 3.5 percent increase from the previous year.

According to the data, three-star hotels in Athens and Attica showed the highest average occupancy rate over the six-month period (83 percent), followed by four-star hotels (75.2 percent) and five-star hotels (69.6 percent).

The association noted that while arrivals to Athens from January to June were on an upward trend, the city’s hotels recorded “relatively low” average occupancy rates.

“This is primarily attributed to the increase in available beds in Athens, particularly from non-hotel accommodations,” the hotel association said.

Citing data from the Hellenic Chamber of Hotels and INSETE for 2023, the hotel association of Athens-Attica reported that the central sector of Athens has 34,953 hotel beds across all categories and an average of 52,500 beds in short-term rental accommodations.

The average daily rate (ADR) for hotels in Athens and Attica increased by 10.7 percent to 143.03 euros during the first six months of the year. Additionally, the average revenue per available room (RevPAR) reached 107.96 euros, up by 14.5 percent compared to 94.28 euros during the same period in 2023.

June

Referring to June, Athens’ peak tourism month, the association noted that while hotels recorded the highest average occupancy compared to all previous months (91.7 percent), this figure also represents a slight decrease of 1.4 percent compared to June 2023.

The ADR of Athens’ hotels in June reached 206.44 euros, up 17.7 percent compared to last June. June’s RevPAR was 189.31 euros, up 16 percent compared to the same month in 2023.

Athens and the competition

The association also released data on the performance of European cities – competitors – of Athens in the first half of 2024.

Athens’ traditional rival, Istanbul, seems to be showing limited progress compared to the Greek capital, a trend observed consistently since 2023.

Specifically, in the first half of 2024, the average hotel occupancy in Athens (75.5 percent) surpasses that of Istanbul (64.9 percent), which also has the lowest six-month average occupancy among the cities in Europe considered.

The best average occupancy during January-June was recorded by Barcelona (77.6 percent), London (77.5 percent), and Madrid (76.4 percent).

Tourists in front of the Hellenic Parliament in Athens. Photo © Greek Travel Pages (GTP)

Accordingly, Istanbul’s six-month ADR of 130.15 euros and RevPAR of 84.47 euros are among the lowest recorded in the first half of 2024.

It is worth noting that Athens’ performance, with an ADR of 143.03 euros and a RevPAR of 107.96 euros, also surpasses those of Vienna and Berlin. However, Athens still falls short compared to the significantly higher performances of other competitors:

– ADR: Barcelona (189.27 euros), Madrid (169.28 euros), Rome (234.31 euros), Paris (321.03 euros), London (215.57 euros) and Amsterdam (175.35 euros).
– RevPAR: Barcelona (146.87 euros), Madrid (129.33 euros), Rome (165.66 euros), Paris (236.28 euros), London (167.07 euros), and Amsterdam (127.65 euros).

In conclusion, the hotel association said that “Athens is on a steady path of increasing popularity”, which is the most “compelling reason” for tourism professionals to remain vigilant and attentive.

“We must continuously monitor and improve the quality of Athens’ tourist offerings for visitors, both in terms of quantity and geographical distribution (carrying capacity) and in terms of the services provided, public and private. It’s essential to respond swiftly with appropriate corrective actions when necessary,” the association highlighted.