Market Report Greece

GBR Consulting Reports Greek Hospitality Industry Performance 1st Quarter 2019 (PDF Download)

Temple Of Olympian Zeus Athens Greece - Photo by Héctor Martínez on Unsplash
Greek Hospitality Industry Performance 1st Quarter 2019

GBR Consulting

The International Airport of Athens recorded a strong Q1 2019 with an increase of international arrivals of 14.3% y-o-y.

However, occupancy levels at Athenian hotels dropped by 6.8%, while room prices remained at the same level as last year, mainly caused by the expanding accommodation sector: the Short Term Rental segment continues its growth path and now also in neighborhoods which were previously not perceived as attractive. Furthermore, the rooms-to-let sector has grown over the past 3 years with 239% in terms of units and 157% in terms of rooms.

The Attica hotel sector added around 800 rooms in the 3 – 5-star segments in 2018, while the 310-room Athens Hyatt re-opened (former Athens Ledra).

In 2019 hundreds of new and renovated hotels rooms in Attica will be added. The 330-room 5-star Four Seasons Astir Palace has just opened, and the 240-room 4-star Ever Eden of Somewhere Hotels and the 60-room 5-star Academia of Athens Autograph Collection will open in the coming period.

Other hotel developments are planned for 2020, while more than 900 former hotel rooms are currently not in operation but will be placed in the market in near future.

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GBR Consulting is a leading Greek business consultant firm. GBR Consulting supports clients develop their businesses in a structured manner leading to growth. The firm offers their clients, who are mainly active in the tourism, retail, food, construction and energy sectors, lasting solutions in the field of strategy, marketing, organisation and finance, while also delivering litigation support.

GBR Consulting
4 Sekeri Street, 106 74 Athens, Greece
T (+30) 210 36 05 002
F (+30) 210 36 06 935
www.gbrconsulting.gr
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