With an average occupancy rate of 63.5%, the first quarter of 2024 closed for Athens hotels – i.e. 5.9% more positive than that of the corresponding period of 2023, according to the data of the Athens – Attica and Argosaronic Hotel Association (SIXAAA ).

At the same time, the Average Room Rate (ADR) for the first quarter of 2024 recorded an increase of 3.9%, as it did not exceed 98.47 euros against 94.75 euros in the first quarter of 2023, while the Revenue per Available Room (RevPar ) increased by 10%, reaching 62.48 euros, compared to 56.79 euros in the first quarter of 2023.

And March 2024, in terms of average occupancy, did not differ much from March 2023: The increase in average occupancy compared to March 2023 was of the order of 1.5%, i.e. it reached 71.5% compared to 70.4% of last March. March 2024 Average Rate (ADR) increased by 7.4% as March 2024 reached €107.86 from €100.43 in March 2023, while Revenue per Available Room (RevPar) in March 2024 increased 9%, reaching €77.08 in March 2024 – compared to €70.72 in March 2023.

“Based on this picture, we move into 2024, estimating that – always barring the unexpected – it tends to develop well, although especially for hotels in Athens – Attica, the performance and prices of Athens could develop even better – in all sizes that are being considered,” concludes the Hotel Association.