The strong growth path of Athens continues. In Q1 2018 international arrivals increased by a stunning
27.1% y-o-y and RevPAR at Athenian hotels increased by 14.6% y-o-y as a result of both increasing
occupancy levels and room rates.
In Thessaloniki international arrivals at the airport dropped in the first quarter of 2018. However, Fraport
confirmed that due to maintenance works at the airport of Thessaloniki, some airlines were forced to
reroute passengers to the airport of Kavala. During Q1 2018 32,000 international arrivals were registered
in Kavala, which normally would have been served by Thessaloniki. Adding these arrivals to Thessaloniki,
an increase of 9.9% y-o-y would have been recorded for Thessaloniki and 112% y-o-y for the rest of
Greece. The latter is mainly due to the performance of the airports of Iraklio and Corfu, who received
10,749 and 5,817 more international passengers respectively during Q1 2018 compared to same quarter
For the hotel sector in Thessaloniki the first quarter showed drops in occupancy and an increase of ADR,
resulting in an improvement of 1.4% y-o-y of RevPAR. However, compared to 2016 room supply increased
significantly effecting occupancy levels. In terms of rooms occupied a small increase was recorded during
Q1 compared to same quarter last year.
For those resort hotels that were open during Q1 2018, the year started well with an increase of the total
revenue per available room of 33.8% y-o-y. However, Q2 2018 will give a more realistic view on the
course of the resort hotels this year.
Overall the south of Europe had a positive start of the year with an increase of RevPAR of 6.8% y-o-y
YTD March 2018. Rome and Madrid both improved occupancy levels, while ADR grew even faster, leading
to an increase of RevPAR of 7.7% and 11.5% y-o-y respectively.
Click here ( Adobe Acrobat PDF file) to download the complete article.
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.
4 Sekeri Street, 106 74 Athens, Greece
T (+30) 210 36 05 002
F (+30) 210 36 06 935
Logos, product and company names mentioned are the property of their respective owners.