Attica hotel rates keep rising
The growth in room prices in Athens and the region of Attica is continuing, while the occupancy rates of hotels of all categories are also expanding, according to January-May 2024 data.
The average occupancy increased by 4.8% to 72.3% in the year to end-May, while the average daily rate (ADR) in May stood at 178.16 euros, up by 15.6% compared to last May. Occupancies reached 86.2% in May, per the performance data of Attica hotels published by the Athens-Attica and Argosaronic Hotel Association (EXAAA).
The ADR of the first five months of 2024 was €127.15 – i.e. it increased by 8.8% compared to the corresponding period of 2023. The average revenue per available room was therefore €91.90, against €80.58 in the first five months of 2023 (+14%).
“Once again, it is evident that the data of hotels are not in line with the general celebrations,” commented EXAAA, citing that the best average occupancy of all was shown by 3-star hotels both in the year’s first five months (80.5%) and in May (91.9%), followed by 4* and 5* hotels, “which is particularly pleasing for hotels in the lower categories, but it also reveals the many opportunities for attracting clientele of higher financial potential that Athens should aim for.”
