January-April occupancy rates disappoint Athens hoteliers
Hoteliers in Athens expressed their disappointment with occupancy rates recorded over the first four months of the year which marked a 33.6% decrease over the same period in pre-pandemic 2019, according to Athens-Attica and Argosaronic Hotel Association (EXAAA) results published this week.
Specifically, occupancy rates for the January-April 2022 period declined by 33.6%, revenue per room (RevPAR) fell by 36.3%, and the average daily rate (ADR) decreased by 4, 1% compared to the same four months. in 2019.
According to the data, the average room occupancy from January to April 2022 was 44.9% with an average room rate of 85.08 euros and revenue per room of 38.2 euros.
Looking at rival cities – Rome, Barcelona, Madrid and Istanbul – occupancy levels and room prices were higher than in Athens. More precisely, Rome saw the occupancy rate reach 47% and the ADR at 149 euros; Barcelona’s RevPAR reached 55% with an average daily rate of 124 euros; Madrid’s RevPAR reached 56% with an ADR of 116 euros; and Istanbul saw occupancy levels reach 64% with an ADR of 97 euros.
The average occupancy rate increased gradually in the first three months between 26.9% and 50% and 65% in April, when Greece relaxed Covid measures. April’s performance was still down 19% from the same month in 2019.
Athens hoteliers attribute the decline in revenue so far this year to limited occupancy rates during the first three months of the year. In terms of bookings, EXAAA said they were still low, conferences were still on hold, and alternative accommodation establishments such as Airbnbs were creating an oversupply of rooms.
The forecast for the summer looks positive
Looking ahead, EXAAA said that “estimates and forecasts for how this summer tourist season will unfold look really positive, however, we remain moderately optimistic because it is too early to draw conclusions about the autumn and winter season ahead of us”.
The association goes on to point out that “Athens is one of the few, if not the only city in Europe, which has still failed to regulate illegal home-sharing practices and which still does not have a metropolitan conference”.
Earlier this year, citing an Institute for Tourism Research and Prospective (ITEP) – Hellenic Hotel Chamber (HCH) surveyGreek hoteliers said they expect turnover to reach pre-pandemic (2019) levels in 2023 or later.
According to the same study, the average occupancy rate in Athens during the period December 2021-April 2022 was 39% and 36.7% in the whole of Attica with room rates at 77 euros.
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