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Greek Hospitality Industry Performance - 4th Quarter 2015

Introduction

This newsletter provides a snapshot of the performance and outlook of the Greek hotel industry, within the broader context of the international hospitality industry as well as of Greek tourism and Greek socio-economic developments.

% Change in International arrivals1 in Greek airports, 2015 compared to 2014

Region
% Change Q4
% Change YTD Q4
Athens
25.1%
25.6%
Thessaloniki
-6.1%
0.3%
Rest of Greece
2.0%
1.3 %
Source: SETE, processed by GBR Consulting

% Change in RevPAR2 in Greek hotels, 2015 compared to 2014

Region
% Change Q4
% Change YTD Q4
Athens
10.5%
9.9%
Thessaloniki
3.8%
7.8%
Resort
0.2%
0.0%
Source: GBR Consulting

RevPAR in Competitive Destinations, 2015 compared to 2014

Region
% Change Q4
% Change YTD Q4
S. Europe
16.0%
12.7%
Rome
10.5%
5.5%
Madrid
6.9%
14.0%
Cairo

40.1%

59.8%
Source: STR Global, processed by GBR Consulting

Commentary

Greece back into deep recession

Major deals in the tourism sector

Investment activity in the Athenian hotel market

Privatisations in progress

Barometer

 

 

 

 

Endnotes

1 The international arrivals statistics are based on SETE calculations compiling the data from 13 major airports of Greece, representing 95% of foreigners' arrivals by plane in Greece and 72% of total foreigners' arrivals. Thessaloniki airport does not distinguish between arrivals of Greeks and foreigners.

2 RevPAR : Revenue per Available Room; for Greek resorts, calculations are based on TRevPAR (i.e. Total RevPAR).

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