• Ilma Danielienė

GBR Consulting reports 79% fall in Athens hotel revenue

Restrictions related to the COVID-19 Pandemic has affected the average revenue of Greek hotels. According to GBR, average room revenue of hotels in Athens decreased by 79% and in Thessaloniki by 67% through the end of September 2020.


Athens, Greece: 2 November 2020



Data from multiple sources confirms that the Greek tourism sector has been badly affected by the COVID Pandemic.

  • According to an earlier analysis by ITEP, only 6,700 Greek hotels operated in the 2020 tourist season, down from 9,971 in 2019.

  • This estimate has been confirmed by GBR, which reports that 77% of the room supply in Athens and 88% of hotel rooms in Thessaloniki were in operation during September 2020.

Average revenue per available room (RevPAR) in Athens and Thessaloniki reached € 25 that is 79% and 65% less compared to the same period in 2019.

Total revenue of city hotels in other Greek destinations declined by 63% during Q3 2020 and resort hotels registered a drop of 79% during the same period.



IATA and Tourism Economics forecast that the international business travel will recover to 2019 levels only after 2024. Domestic business travel is expected to recover faster, reaching 2019 levels in 2022.

Navigator Consulting has been reporting extensively on the risks and impacts of COVID-19 on the tourism sector in Cyprus and Greece. We support clients restructure their operations to prepare for COVID-19 and wider unfolding risks and opportunities in the region.

For further information, please contact:

Philip Ammerman

Managing Director

info@navigator-consulting.com

Sources:

Greek hospitality industry performance

GBR Consulting. Q3 2020.

Covid-19 sends Greek hotel revenue tumbling, says GBR report

Greek Travel Pages. 2 November 2020

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