Athens hotels head for record occupancy
Athens hotels have matched the occupancy rates of record year 2019 over the first six months of 2023.
According to the monthly data of the Athens-Attica and Argosaronic Hoteliers Association (EXAA), compiled in collaboration with GBR Consulting, the occupancy of hotel units stood at 73% in January-June, an increase of 24.1% compared to last year and lagging just 3% from the same period of 2019.
In June the average occupancy was much higher and amounted to 93.2%, having improved by 2.8% on an annual basis and by 0.4% compared to June 2019. According to EXAA, both May and June 2023 proved to be peak months for the capital, “which appears to be regaining its momentum as a tourist destination.”
In the first month of summer the average room rate was around 176 euros, having increased by 19% and by 40% compared to the same month in 2022 and 2019, respectively. Overall, during the first half the average room rate increased to €130 – i.e. by 17% and by 26.5% compared to the same period last year and 2019.
This upward change is attributed to the increased average room rates in May (€155) and in June (€176).
Athens, according to EXAA data, has the lowest prices compared to its competitors – i.e. Vienna, Berlin and Madrid – which has a positive effect on demand. In Istanbul, the corresponding average price in June, compared to the same month of 2019, increased by 93% to €185.5, while in Barcelona it reached €209 (+20% compared to 2019). In Rome and Paris the average price per night amounted to €307 and €468, having increased by 60% and 69% compared to June 2019, respectively.
On six-month level, Athens is, along with Vienna and Berlin, among the cities with the lowest average price. In Madrid it increased by 25.5%, to 146 euros, in the corresponding period of 2019.
The revenue per available room increased in the first half to around €95, having increased by 45.2% and by 23% compared to the same period in 2022 and 2019.
