Overall occupancy rates and revenues at Athens hotels dropped in 2019, with sector professionals remaining reserved about performance in 2020, according to Athens-Attica & Argosaronikos Hotel Association findings released this week.
More specifically, occupancy levels fell by 2.2 percent and revenue (RevPar) by 1.4 percent last year but average rates increased slightly by 0.9 percent.
The study on “Overall Performance of the Attica Hotel Industry”, carried out by the association in collaboration with GBR Consulting, reveals that occupancy rates were on the negative throughout 2019 by nearly 8.8 percent with the exception of the peak season months of August and September, which recorded the same levels as in 2018.
With regard to rival cities, besides the Greek capital, occupancy rates also dropped in Paris and in Rome in 2019 by 2.3 percent and 0.4 percent, respectively.
Cities reporting increases in both occupancy and revenue were Istanbul (3.9 percent and 13.6 percent), Barcelona (3.1 percent and 11.2 percent), and Madrid (1.9 percent and 12.8 percent).
Athens-Attica hoteliers are attributing the decline to an over-supply of accommodation options available in the Greek capital and are calling on authorities to take researched actions and measures that will regulate number and quality of beds offered.
“The downward trend of occupancy levels observed since the end of 2018 at Athens hotels is not in line with the city’s dynamic, its prospects, and the vision of those who invested or are investing there,” said the association in a statement.