Athens Hotels Face Fifth Month of Occupancy Decline Amid Rising Room Rates

A 1.2 percent decline in the occupancy rates of Athens and Attica hotels was recorded in September compared to the same period in 2023, marking the fifth consecutive month of decreases in 2024, according to data from the Athens-Attica & Argosaronic Hotel Association.

Occupancy trends in other Mediterranean cities that compete with Athens showed varied results: Barcelona experienced a 1.4 percent decline, Madrid’s occupancy remained stable, while Rome and Istanbul saw increases of 2.5 percent and 5.5 percent, respectively.

In terms of the Average Daily Rate (ADR) for September 2024 compared to September 2023, Athens posted an 8.1 percent increase. Meanwhile, ADR levels fell by 8.3 percent in Rome and 3.8 percent in Istanbul, whereas Barcelona and Madrid reported significant rises of 19.5 percent and 18.9 percent, respectively.

Occupancy rates of hotels in Athens, Attica and the Argosaronic.

Over the first nine months of 2024, Athens reported a 1.5 percent increase in hotel occupancy compared to the same period last year.

During this time, demand in Madrid and Istanbul rose by 4.7 percent and 6.6 percent, respectively, while Rome and Barcelona saw stable figures. Notably, according to the association, only Barcelona recorded higher overall occupancy levels than Athens when comparing these Mediterranean cities.

Although Athens recorded an 8.9 percent ADR increase over the nine-month January-September period, it still trailed behind Madrid, which posted a 16.3 percent increase, and Barcelona, which surpassed Athens with a 9.5 percent rise. Rome saw a modest increase in ADR, albeit maintaining high pricing, while Istanbul experienced a decline.

ADR of hotels in Athens, Attica and the Argosaronic.

Commenting on the performance of city’s hotels in September and the first nine months of the year, the Athens-Attica & Argosaronic Hotel Association expressed concern over whether current infrastructure and services are sufficient to meet the needs of Athens’ residents and visitors.

The association underscored the importance of recent studies initiated by the Region of Attica and the Municipality of Athens to assess the destination’s carrying capacity, emphasizing the need for ongoing improvements and adaptation to changing conditions.