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GBR: More 5-star Hotels in Greece Running Under Brand Names

The number of Greek hotels in the 5-star category increased by 77 percent in the 2009-2017 period with 8 percent of all hotels and 27 percent of all rooms belonging to an international chain or local brand, according to a survey on the “Size and Performance of the 5-star Hotel Chains in Greece” released this week by GBR Consulting.

According to the study, luxury hotels in the 2009-2017 period went from 280 to 496 units, with the 4-star category marking a 28 percent rise from 1,164 to 1,485 units, and the 3-star segment a 15 percent increase, or an additional 336 hotels.

There are 30 international hotel chains operating in Greece, at the moment  accounting for 259 hotels and 44,198 hotel rooms. A total of 47 national chains represent 246 hotels and 44,592 hotel rooms.

More specifically, 59 percent of 5-star hotels are running under a brand name, followed by 41 percent of 4-star units, and 4 percent of 3-star facilities. With regard to rooms, 70 percent of all branded rooms are in the 5-star category, 41 percent in the 4-star category, and 8 percent in the 3-star category.

Greek hotel brands at the top include Grecotel and Mitsis with a total of 11,244 rooms nationwide, while H Hotels Collection, Koullias, and Esperia Hotel Group stand out locally.

In terms of consortia, Tablet Hotels, Mr & Mrs Smith and Leading Hotels of the World are major operators.

With regard to international players, TUI, Thomas Cook, Marriott International, Der Touristic, and Sani / Ikos Group are in the top five.

According to GBR analysts, most of the 5-star branded rooms are concentrated in the Dodecanese, Crete, Attica, Halkidiki, Corfu and the Cyclades, with Attica recording a 90 percent brand penetration rate.

Based on published financial data for 2014-2016, Greece’s 5-star hotel market was valued at 2.5 billion euros in 2016, against 2.1 billion euros in 2015.

In terms of revenue, the highest total revenue per available room was recorded in 5-star hotels run by consortiums with units in the Cyclades posting the highest TRevPAR in 2016 at 68,519 euros.

The study concludes with total capital investment in 2016, which came to 216 million euros among a sample of 124 enterprises owning 24,639 5-star rooms.

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