The performance of Athenian hotels in relation to European cities

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By Vickys Kourlibini

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Occupancies of Athenian hotels fluctuated at satisfactory levels in July, but there is much room for improvement in the critical indicator of revenue per available room. The comparison can be made with the performance of accommodations in major European cities as well, according to data from GBR Consulting for the Hotel Association of Athens, Attica and Argosaronicos.

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Athens hotels had in July occupancy 63.3% from 46% in July 2021, average room rate (ADR) 117 euros from 97 euros last year and revenue per available room (RevPar) at 74.5 euros from 45 euros last year.

Istanbul had the highest occupancy in July with 70.5%, an average room price of 120 euros and an average income of 85 euros.

Madrid performed 64%, €128 and €82 respectively, Barcelona 69%, €150 and €103, Amsterdam 57%, €157 and €90, Rome 61%, €187 and €115, Munich 57% , 147 euros and 83 euros, Berlin 61%, 103 euros and 62 euros, Paris 69%, 285 euros and 196 euros, London 70%, 203 euros and 141 euros and finally Vienna 51% occupancy, 111 euros average room rate and 57 euros revenue per available room.

“We would also characterize the course of the average room price as positive, since it showed an increase of 20.6% at the level of 7 months compared to 2021, however, if we observe what is happening at the European level, the increase in the average room price of Athens remains the smallest recorded in relation to its competitor cities” commented the Athens Attica and Argosaronic Hotel Association.

The same applies to the revenue per available room, where the positive change for Athens does not exceed 65.9%, while in the other cities there are RevPar increases from 144.1% (Istanbul) to 530.5% (Amsterdam) compared to the corresponding period of 2021. Regarding the 7-month RevPar in relation to the corresponding one of 2019, it appears with a negative sign of -8.5%.

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How did the seven months go?

At the 7-month level, Athens slightly reduced the gap between the years 2022 and 2019 in the average occupancy of Athens hotels, as recorded during the 1st semester, namely from -21.7% to -17.8%.

The 7th month of 2022, compared to the corresponding 7th month of 2019, however, closed with a negative sign in terms of the average occupancy of the units in the Greek capital, simply, this reduction no longer exceeds 20%.

However, it is noted that July and August are not months with high tourist traffic for Athens hotels, unlike September and October, so performance is expected to improve significantly.

Source: Capital

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