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Greek Hospitality Industry Performance - 1st Quarter 2019

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 socioeconomic developments.

% Change in International arrivals1 in Greek airports, 2019 compared to 2018

Region
% Change Q1
% Change YTD Q1
Athens
14.3%
14.3%
Thessaloniki
11.8%
11.8%
Rest of Greece
-65.9%
-65.9%
Source: SETE, processed by GBR Consulting

% Change in RevPAR2 in Greek hotels, 2019 compared to 2018

Region
% Change Q1
% Change YTD Q1
Athens
-6.8%
-6.8%
Thessaloniki
4.0%
4.0%
Resorts
3.5%
3.5%
Source: GBR Consulting

RevPAR in Competitive Destinations, 2019 compared to 2018

Region
% Change Q1
% Change YTD Q1
S. Europe
1.8%
1.8%
Rome
-1.4%
-1.4%
Madrid
8.4%
8.4%
Cairo3
13.3%
13.3%
Source: STR Global, processed by GBR Consulting

Commentary

Thessaloniki hotel sector: stagnating demand and shift in source markets

Athens riviera

Transactions

Outlook

Endnotes

1The data refers to passengers on international flights, irrespective of place of residence, with the exception of the data for Athens. Data of Thessaloniki has been corrected due to maintenance works at the airport of Thessaloniki during Q1 as some airlines were forced to reroute passengers to the airport of Kavala. We have added these international passengers to Thessaloniki.

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


3The percentage change of Cairo is based on the RevPAR in local currency

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