Hotels in Athens recorded an average occupancy rate of 72.3% in the first five months of 2024, compared to 68.9% in 2023.
In May, occupancy rates stood at 86.2%, a reduction of -2.7% compared to the same month of 2023.
The 5-month Average Daily Rate (ADR) and Revenue per Available Room (RevPar) showed slightly better performances compared to the same period in 2023: More specifically, the 5-month Average Daily Rate (ADR) of 2024 was 127.15 euros ( an increase of 8.8% compared to the same period in 2023) and the average Revenue per Available Room (RevPar) in 2024 was 91.90 euros – which compares with 80.58 euros in the same period of 2023 (an increase of 14 %).
May is considered peak month for the capital, while June has even better performance.
The Average Room Rate (ADR) for May 2024 was 178.16 euros (i.e., an increase of 15.6% compared to last May) and the Revenue Per Available Room (RevPar) for May 2024 reached 153. 50 (an increase of 12.4% compared to the corresponding RevPar of May 2023). .
“Once again it is clear that hotel data and results are not consistent: The best average occupancy of all was presented by 3* hotels, both in the five-year period of 2024 (80.5%), and in May 2024 (91. 9%) followed by 4* and 5* hotels. Something particularly pleasant for hotels in the lower categories, at the same time as it reflects the many opportunities that exist to attract customers with greater financial potential, which Athens should aim for in the future”, stated the Association of Hoteliers of Athens, Attica and Argosaronic.
He also highlighted that, in order to “attract tourists who are willing or able to spend much more money during their visit to Athens, the city itself must ‘build’ a relevant profile as a European capital and international destination – satisfying high quality standards. guests demand” .