The International Airport of Athens recorded a strong Q1 2019 with an increase of international arrivals of 14.3% y-o-y.
However, occupancy levels at Athenian hotels dropped by 6.8%, while room prices remained at the same level as last year, mainly caused by the expanding accommodation sector: the Short Term Rental segment continues its growth path and now also in neighborhoods which were previously not perceived as attractive. Furthermore, the rooms-to-let sector has grown over the past 3 years with 239% in terms of units and 157% in terms of rooms.
The Attica hotel sector added around 800 rooms in the 3 – 5-star segments in 2018, while the 310-room Athens Hyatt re-opened (former Athens Ledra).
In 2019 hundreds of new and renovated hotels rooms in Attica will be added. The 330-room 5-star Four Seasons Astir Palace has just opened, and the 240-room 4-star Ever Eden of Somewhere Hotels and the 60-room 5-star Academia of Athens Autograph Collection will open in the coming period.
Other hotel developments are planned for 2020, while more than 900 former hotel rooms are currently not in operation but will be placed in the market in near future.
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