Market Report Greece

GBR Consulting Reports Greek Hospitality Industry Performance 2nd Quarter 2017 (PDF Download)

Temple Of Olympian Zeus Athens Greece - Photo by Héctor Martínez on Unsplash
Greek Hospitality Industry Performance 2nd Quarter 2017

International arrivals at the airport of Athens increased by 4.6% y-o-y during H1 2017. Subsequently, occupancy levels and room rates increased at Athenian hotels, resulting in an improvement of RevPAR of 10.1% y-o-y during H1 2017.

In Thessaloniki arrivals from abroad showed a significant increase of 20.8% y-o-y during Q2 2017 resulting in an increase of 17.8% y-o-y of H1 2017. Occupancy and room rate levels improved in Q2 2017 compared to the same quarter last year resulting in an increase of RevPAR of 7.9% y-o-y during H1 2017.

Arrivals at 17 airports at resort locations also increased considerably with an overall increase of 12.5% y-o-y during Q2 2017. Especially, the airports of Kos and Zante showed significant increases of international arrivals by 22.6% and 21.3% respectively during Q2 2017 compared to same quarter last year.

Based on data of June 2017, performance of resort hotels seems very promising for this year. During Q2, when not all resort hotels are fully in operation, the Total Revenue per Available Rooms increased by 9.2% compared to Q2 2016, while the TRevPAR of the first 6 months was 6.4% higher than same period last year.

On an international level, the hotel sector of Southern Europe is performing very well with an increase of 8.1% y-o-y in RevPAR during H1 2017. Madrid boosted its RevPAR by 18.6% y-o-y during H1 2017, while Rome recorded a mild improvement of 2.9% y-o-y. The city of Cairo is benefiting from Egypt’s economic recovery as RevPAR was up nearly 87% y-o-y during H1 2017 (measured in local currency).

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GBR Consulting is a leading Greek business consultant firm. GBR Consulting supports clients develop their businesses in a structured manner leading to growth. The firm offers their clients, who are mainly active in the tourism, retail, food, construction and energy sectors, lasting solutions in the field of strategy, marketing, organisation and finance, while also delivering litigation support.

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