Athens-Attica Hotels End 2024 on a High Note with Increased Occupancy and Revenue

Athens and Attica hotels closed 2024 on a positive note, with the average occupancy rate reaching 78 percent, an increase of 2.3 percent compared to 2023, according to the Athens-Attica & Argosaronic Hotel Association. The average daily rate (ADR) rose to 149.26 euros, an increase of 8.9 percent, while revenue per available room (RevPAR) climbed to 116.48 euros, marking an 11.4 percent increase year-on-year.

In an announcement on Thursday, the association highlighted strong performance in the last two months of the year.

During November, which included the Athens Marathon event in the city, hotels achieved an average occupancy rate of 73.8 percent, while in December, the rate stood at 61.5 percent. ADR increased by 7.9 percent and 14.6 percent, respectively, while RevPAR surged by 13.7 percent in November and 24.7 percent in December.

Athens vs. competitor cities

Athens hotels demonstrated solid performance compared to competitor cities in Europe, according to the association. The average occupancy rate in benchmark cities ranged from 69.2 percent (Istanbul, which recorded a 7.3 percent decline compared to 2023) to 81 percent (London).

Notable year-on-year growth was recorded in Madrid (13.7 percent), Rome (10.5 percent), and Barcelona (9.7 percent).

In terms of ADR, Athens posted an 8.9 percent increase, compared to 14 percent in Madrid, 7.7 percent in Barcelona, and 2 percent in Rome, while Istanbul experienced a 6 percent decline. For RevPAR, Athens saw an 11.4 percent increase, while Madrid led with a 19 percent rise, followed by Barcelona (7 percent), and Rome (3.1 percent). Istanbul remained stable with a slight 0.4 percent increase.

Off-peak months drive growth

According to the association’s data, Athens-Attica hotels saw notable improvements in occupancy during off-peak months in 2024, with increases ranging from 1.5 percent in March to 14.2 percent in February.

“This trend reflects the city’s growing appeal as a year-round destination and its evolution into a favored city-break spot — a long-standing goal for Athens,” the association noted.

However, occupancy during traditional peak months (May through September) showed slight declines, ranging from 1.2 percent to 2.7 percent compared to 2023.

“This dip is attributed to travelers opting for alternative accommodations, such as short-term rental properties and private rooms or apartments,” the association added.

Association welcomes short-term rental regulations, Calls for stricter measures

The recent enactment of Law 5170/2025, which introduces operational and safety standards for short-term rental properties in Greece, has been welcomed by the Athens-Attica & Argosaronic Hotel Association. The law includes provisions for visitor safety and minimum compliance standards, such as civil liability insurance, to enhance the quality of hospitality services.

“While the new regulations will take effect in October 2025, allowing one more tourism season under the current framework, they lay the foundation for improved oversight and enforcement,” the association noted.

The association welcomed the introduction of limits on rental days, the reduction in the number of properties within three municipal districts of Athens, and the implementation of inspections conducted by mixed teams comprising Tourism Ministry employees and inspectors from Greece’s Independent Public Revenue Authority (AADE).

“These measures are essential for our city and its residents, ensuring balanced growth and sustainable tourism development,” the association said.

However, the association highlighted the need for additional stricter measures to address the rapid growth of short-term rentals in Attica, which now account for 137,499 beds.