Hoteliers in Athens spoke of a “total return” to normality – with stability – citing, however, the potential effect of unpredictable factors such as geopolitical, climate and economic crises.
According to a survey conducted by the Athens – Attica & Argosaronic Hotel Association along with GBR Consulting, two “traditionally” neutral months, such as January and February, performed quite well this year, with hotels in Athens having boosted occupancy by 9% in the first two months compared to the corresponding two months of 2023.
The lowest average room rate in Europe
Athens continues to be the European capital with the lowest average room rate and is consistently ahead of its competitors, who, despite almost identical occupancy rates over the same time period, have a much better average room rate and better available revenue per room.
More specifically, in the first two months of 2024, the average occupancy of Athens hotels reached 59.3% compared to 54.4% in the first two months of 2023 while the average daily rate (ADR) reached 92.58 euros compared to 90.89 euros in the first half of 2023, up 1.9%.
In February 2024, the average occupancy rate stood at 66.3% compared to 58% in February 2023, up 14.3%, while the average daily rate (ADR) in February 2024 rose 3% to 94.49 euros versus 91.76 euros in February 2023.
