Athens climbed to new heights in terms of average occupancy, average room rate and revenue per available room, but still lags behind most of its competitors, according to the first five months of data released by the Athens Attica Argosaronic Hotel Association (EXAAA).
As announced, the first five months of 2024 closed with an average occupancy of 72.3% compared to 68.9% in 2023 for hotels in Athens. The positive change recorded at the five-month level is in the order of 4.8% compared to 2023, and although May recorded better occupancy compared to previous months (86.2%), even yet, this occupation shows a decrease compared to the corresponding occupation in May. 2023 by -2.7%.
The 5-month Average Room Rate (ADR) and the Revenue per Available Room (RevPar) show slightly better performances compared to the corresponding period in 2023: More specifically, the 5-month Average Room Rate (ADR) in 2024 is 127.15 euros ( an increase of 8.8% compared to the 5th month of 2023) and as an average Revenue per Available Room (RevPar) 2024 91.90 euros – compared to 80.58 euros in the 1st 5th month of 2023 (an increase of 14%).
And May is considered a peak month for the capital, like June, and by definition, better performances are always expected.
The Average Room Rate (ADR) for May 2024 was €178.16 (ie an increase of 15.6% compared to last May) and the Revenue per Available Room (RevPar) for May 2024 was €153.50 (an increase of 12 .4% against the corresponding May 2023 RevPar).
The best filling of three stars
Next, EXAAA commented on the performance of hotels in Athens, noting, among other things, the following:
– Again, it is obvious that the data and results of the hotels are not consistent with the general ‘celebrations’: The best average occupancy of all is shown in 3 * hotels, both in th 5 months in 2024 (80.5%) and in May 2024 (91.9%) followed by 4* and 5* hotels – something that is especially pleasing for hotels in the lower categories, but at the same time we believe that it also shows the many opportunities available for attracting customers with higher financial potential – where we should aim in Athens in the future.
Attracting tourists who are willing or able to spend a lot of money on their visit to Athens certainly works with the profile that the city itself ‘builds’ every day as a European capital and an international destination – satisfying visitors with many needs. . For our part, this year we also updated all this data starting from the month of June in the hotels – members of the Association of the 20th Survey of Guest Satisfaction and Performance of Attica Hotels EXAAA & GBR Consulting – where our the guest himself will answer.
The competitors in Athens:
– The average occupancy of Athens in the first 5 months fluctuates at a good level compared to other competing cities (note the average occupancy of European cities from 63.4 % – Vienna and 75.8% – London). It is also one of the few times that it has done better than Istanbul, which in the 5 months of 2024 recorded an average occupancy of 63.9%, an average room price of 125.74 euros and a Rev Par of 80.35 euros. However, some competitors have better average room rate performance, for example. Barcelona (179.32 euros), Madrid (162.54 euros), Rome (218.63 euros), Paris (302.55 euros), London (202.33 euros), Amsterdam (170, 46 euros) and others against 127.15 euros in Athens. Similarly, the performances of other competitors are also higher in terms of revenue per available room, as for example. Barcelona (€135.57), Madrid (€122.07), Rome (€148.67), Paris (€219.95), London (€153.37), Amsterdam (€120.86), against 91 .90 euros in Athens.
“Shocked” the example of Barcelona
At this point, EXAAA emphasizes that we should not “leave us indifferent” to the latest and “shocking” for EXAAA, new tourist destination in Barcelona – as proposed by the Mayor Jaume Collboni and presented in most publications: “In 2029 there will be no house. licensed as a tourist accommodation’. It is worth noting that in the last decade, hotel agencies (XEE – ITEP, EXAAA) have repeatedly submitted the a number of targeted research and studies for Athens and especially for short-term rentals – to be used by the relevant agencies. We believe that what is submitted should be considered in studies, initiatives of information and new synergies where bodies such as the Region of Attica and the Municipality of Athens continue. At the same time, a series of projects and investments launched to frame in the near future the ‘core ‘ in Athens (Historical & Commercial Center) will certainly contribute to the overall upgrade of the destination – and its offer to visitors. tomorrow – enriching the current accommodation options and tours routes (eg new and renovated high-end tourist units, Elliniko, Tatoi, etc.).