2024 ended positively for Athens hotels, with an average occupancy rate of 78% (an increase of 2.3% compared to 2023), an average daily rate (ADR) of 149.26 euros (an increase of 8.9% compared to 2023) and a revenue per available room (Rev Par) of 116.48 euros (an increase of 11.4% compared to 2023).
More specifically, an average occupancy of 73.8% was recorded in November and 61.5% in December, an increase in the average daily rate (ADR) by 7.9% and 14.6% respectively, and an increase in revenue per available room (Rev Par) by 13.7% in November and by 24.7% in December.
Athens’ competitors
Compared to other competitor cities, Athens’ hotels recorded a quite good performance.
Specifically, the average occupancy in the European Benchmark cities ranged between 69.2% (Istanbul recorded a decrease of 7.3% compared to 2023) and 81% (London). However, occupancy also increased in Madrid (+13.7%), Rome (+10.5%) and Barcelona (+9.7%).
In terms of average daily rate (ADR), comparing the average price of Athens in the 12 months of 2024 against the corresponding period of 2023, an increase of 8.9% was observed for Athens, 14% for Madrid, 7.7% for Barcelona and 2% for Rome, while Istanbul decreased by 6%.
Correspondingly, the revenue per available room (Rev Par) rose 11.4% in Athens in the 12-month period, 19% in Madrid, 7% in Barcelona and 3.1% in Rome, while in Istanbul it moved at similar levels (+0.4%).
