Athens hotels: Annual occupancy increase of 4.8% in May – Average room rate at 127 euros

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%, lower by –2.7% compared to the corresponding month in 2023.

The 5-month Average Daily Rate (ADR) and the Revenue per Available Room (RevPar) showed slightly better performances compared to the corresponding period of 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 – compared to 80.58 euros in the same period in 2023 (an increase of 14%).

May is considered a peak month for the capital, while an even better performance is expected in June.

The May 2024 Average Room Rate (ADR) was 178.16 euros (ie an increase of 15.6% compared to last May) and the May 2024 Revenue per Available Room (RevPar) reached 153.50 (an increase of 12.4% against the corresponding May 2023 RevPar).

“Once again it is evident that the data and results of the hotels are not consistent: The best average occupancy of all was shown by the 3* hotels, both in the five-month period of 2024 (80.5%), and in May 2024 (91.9%) followed by 4* and 5* hotels. Something particularly pleasing for the hotels of the lower categories, while at the same time reflecting the many opportunities that exist for attracting customers of higher financial potential, which Athens should aim for in the future,” the Athens, Attica and Argosaronic Hoteliers Association.

It also pointed out that in order “to attract tourists who will be willing or able to spend a lot more money during their visit to Athens, the city itself must ‘build’ a relevant profile as a European capital and international destination – satisfying high-demand guests”.