Foreign residents arriving at the International Airport of Athens increased 11.0% during Q2 2019 compared to the same quarter last year. Performance of April was particularly strong with an increase of 20.5% y-o-y, while May and June recorded single digit growth rates of 9.7% and 6.1% y-o-y respectively. It should be noted that these international arrivals include passengers that are transferring in Athens to other domestic destinations.
Despite the total commercial real estate investment in Europe declining 7.8% year-on-year in the twelve months to Q2 2019, hotel investment saw an increase of 5.3% over the same period, totaling 24.3bn, according to the latest data from global real estate advisor, CBRE.
Turning the dial from nice-to-have to business critical
Preliminary July data for hotels in London indicate the highest ADR and RevPAR levels for any July in the STR database for London.