Greek Hotel Market Expects Increase in Occupancy, Room Rates in 2017

Hotel Grande Bretagne, Athens.

Greek hoteliers are very optimistic for 2017 with a majority expecting increases in occupancy levels and room rates compared to last year, according to the latest tourism barometer report on the expectations of the Greek hospitality sector for this year.

According to the report, conducted by GBR Consulting, around 55 percent of Greek hoteliers is forecasting increases in occupancy levels and 62 percent is expecting improvements in ADR (Average Daily Rate) as far as their own hotels are concerned.

City hoteliers expect to continue the positive trend of 2016, with 47 percent expecting improvements in occupancy levels of at least two percent, while 56 percent is expecting these growth levels for ADR.

For the resort market, about six out of 10 hoteliers are forecasting for their own units improvements in occupancy levels and room rates this season compared to last year. Overall, resort hoteliers are even more optimistic with 27 percent forecasting increases of 5 percent and more for both occupancy and room rates.

In the 3-, 4- and 5-star categories, the majority of hoteliers is expecting increases of two percent and more on all levels for the market in general.

The 5-star hoteliers are the most optimistic of all hoteliers. Half of the hoteliers has forecasted
improvements in occupancy and nearly eight out 10 are expecting increases in room rates as far as their own hotels are concerned.

Moreover, owners of 2-star hotels are also optimistic in terms of occupancy development, but expect room rates at similar levels as last year.