- This October, Athens’ hotel occupancy rose by 2.2%, finally ending months of declines.
- 2024’s ten-month performance showed a modest 1.6% gain in hotel occupancy.
- ADR for October 2024 saw a 9% boost compared to last October.
- Compared to Mediterranean competitors, Athens held its own but didn’t outshine.
- Industry insiders stress the importance of reinvestment in tourism infrastructure and fair taxation.
Positive Numbers After a Rough Stretch
Athens hotels finally saw a 2.2% boost in occupancy this October compared to October 2023, breaking a five-month streak of declines. This slight rise added some much-needed optimism to the city’s 2024 ten-month performance, which closed with a 1.6% increase overall. Meanwhile, the average daily rate (ADR) for October 2024 climbed by an impressive 9% over the same month last year, and the ten-month ADR also saw an increase of 8.9%.
Comparing Athens to Its Mediterranean Frenemies
When stacking up Athens’ October numbers against other Mediterranean cities, the results were a bit of a mixed bag:
- Madrid: Occupancy rose by 3.1%, with a 5.2% increase in ADR.
- Rome: Saw a 3.3% rise in occupancy, with ADR ticking up by 2.7%.
- Istanbul: Dominated with a whopping 9% jump in occupancy, though ADR didn’t budge.
- Barcelona: The black sheep, where occupancy dropped by 3.7%, though ADR held steady.
In the ten-month window, Athens posted a modest 1.6% bump in occupancy compared to last year’s same period. For context:
- Madrid enjoyed a 4.7% rise in occupancy.
- Istanbul surged with a 6.6% increase.
- Rome and Barcelona? Yawn. Both hovered at the same levels as 2023.
ADR numbers for the ten months told another story:
- Madrid flexed with a double-digit ADR jump of 14.5%.
- Barcelona saw a solid 8.1% gain.
- Athens held steady with its respectable 8.9% rise.
- Rome eked out a mere 1.4% increase, while Istanbul stumbled with a 7.6% drop.
What’s Behind Athens’ New Popularity?
Athens isn’t just basking in ancient glory anymore. These improved numbers signal the city’s growing attraction as a leisure and business hub. This newfound success positively impacts hotel revenues, local businesses, and broader government returns. However, officials and industry leaders stress the importance of protecting and enhancing this momentum.
Talking Taxes and Returns
The Athens-Attica & Argosaronic Hotel Association (EXAAA) wasn’t shy about weighing in. They expressed cautious optimism, stating, “We hope that the various fees, like municipal and accommodation taxes, and the newer climate resilience charges, genuinely support this philosophy of contribution and reciprocity.”
EXAAA didn’t miss the chance to throw some shade: “Let’s not forget the new tax laws designed to beef up the climate fee. Sure, hotels across categories have quantifiable contributions, but how about those countless unregistered short-term rental properties? At the end of next year, we’ll all see how much revenue was actually collected and where it was spent. Will these funds really go toward preventing natural disasters and improving infrastructure, or will they vanish into thin air?”
