Athens Hotels Experience 21% Price Increase in August as Trivago Data Reveals

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Data from the trivago Hotel Price Index has unveiled a notable 21% surge in the average online overnight price for Athens hotels in August compared to the same period last year. Specifically, the average cost of a double room has risen from 140 euros to 170 euros this year.

It is worth highlighting that June witnessed a substantial increase of 25.8% in the online price per night for double rooms, reaching 180 euros compared to the previous year. July, on the other hand, saw the price reaching 176 euros. However, it's noteworthy that traditionally, August is not the peak month for hotel activity in the capital, as indications suggest that bookings for September and October are showing robust momentum.

Trivago's data also highlights the average hotel prices in other major European cities for August this year: Amsterdam at 265 euros, Barcelona at 231 euros, Berlin at 158 euros, Istanbul at 127 euros, London at 255 euros, Madrid at 136 euros, Paris at 212 euros, and Rome at 212 euros.

In a parallel study, the Athens - Attica & Argosaronic Hotel Association (EXAAA), in collaboration with GBR Consulting, examined the Hotel Traffic and Performance data for the first half of 2023. This analysis revealed a relatively strong average occupancy rate of approximately 73% for Athens hotels, indicating a 24.1% increase compared to the same period in 2022. The occupancy rate aims to approach the levels of the corresponding period in 2019, with a deviation of around -3%.

During June 2023, the average hotel occupancy rate significantly improved, reaching 93.2%, a 2.8% increase compared to June 2022 and a 0.4% increase compared to June 2019. The Average Room Rate/ADR for June was 175.92 euros, showing a significant increase of 19% compared to June 2022 and a substantial 40% increase compared to June 2019.

Furthermore, revenue per available room (Rev Par) for the first half of 2023 reached 94.65 euros, marking a significant 45.2% increase compared to the same period in 2022 and a notable 22.7% increase compared to the first half of 2019. June 2023 performed exceptionally well in terms of Rev Par, achieving a Rev Par of 163.87 euros, indicating a remarkable improvement of 22.4% compared to 2022.

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