The tourist traffic in Athens is heating up, however, the performance of the hotels is far from the performance of 2019

With a drop of 33.6% in occupancy, with a decrease of 36.3% in the revenue per available room (RevPar) and a decrease of 4.1% in the average room price ‘closed’ in the first 4 months of January – April 2022 for the hotels of Athens, compared to the corresponding four months of 2019 – the most recent normal tourist year for the hotel in Athens, as emphasized in a relevant announcement of the hoteliers of Athens (EXAAA). During the first four months of 2022, the average occupancy was 44.9%, the average room rate was 85.08 euros and the revenue per available room reached 38.2 euros. At the same time, the average occupancy gradually increased from 26.9% to 50% during the first quarter, while in April it reached 65%. However, it remained 19% lower than in 2019.

The decrease in revenue per available room (RevPar) in the first four months of 2022 (by 36.3% compared to 2019), as highlighted, is mainly due to this fact, ie the low occupancy levels during the first three months of 2022. In addition , corresponding performance is recorded by the research of XEE / ITEP that was conducted nationwide, in terms of Athens, where during the period December 2021 – April 2022 the average occupancy did not exceed 39% in the open hotels of Attica and 36.7% of the total hotels of Attica. The average room price was around 77 euros. Of course, any comparisons with the data of 2021-2020, according to the Hoteliers Association, do not lead to correct conclusions, as they compare the performance of 2022 with the performance of years in which, for short or long periods, many – or all – the hotels remained closed.

“In conclusion, the estimates and forecasts for the course of this summer tourist season can be really positive, however, we should remain moderately optimistic as it is too early for conclusions about the autumn and winter ahead of us.” report the hoteliers of Athens. Meanwhile, EXAAA notes that bookings are still at very low levels, conferences are not yet certain that they will take place, while at the same time, the oversupply of beds of all kinds that ‘open’ and are announced on a daily basis, are data that cause concern, such as they mention.

“At a strategic level and looking ‘further away’ than simply recording arrivals at the capital’s airport, we are very afraid that after a summer that is expected to be positive in terms of arrivals – and if there are no other surprises as we hope – we will be faced with our old ‘bad self’, being one of the few – if not the only – European capital (as well as a country) that: Has not regulated the issues of “sharing economy”, does not have a metropolitan conference center of international standards and will walk -with “Only ‘guaranteed’ – the bill of the pandemic, the increased costs of operation and supplies and the flourishing of the ‘hospitality'”, they note in their announcement.

SOURCE: AMPE