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Negative results for Athens hotels in 2019
A 2.2% drop in occupancy, a 1.4% decline in RevPar and a marginally positive change (0.9%) in Average Room Price marked the 2019 closing for the hotels in Athens.
According to the monthly reports of the Hoteliers Association of Athens, GBR Consulting and the hotel traffic and performance data, the hotel occupancy in 2019 had been negative throughout 2019 at rates up to 8.8%, except for August and September, during which the occupancy was the same as in 2018.
In comparison with cities abroad, only Athens, Paris and marginally Rome declined in 2019 (-2.2%, -2.3% and -0.4% respectively), while hotels in cities like Istanbul, Barcelona and Madrid have had agood year, not only in terms of occupancy (+ 3.9%, + 3.1% and + 1.9% respectively), but also in terms of RevPar (+ 13.6%, + 11.2% and + 12.8% respectively).
According to the Hoteliers Association there should be a focus on the over-supply of beds in Athens to all types of accommodation, as well as changes in the supply-demand relationship.
Original Source: Euro2day
Adaptation/Translation: Kiki Athanasiadis