GBR Consulting Reports Greek Hospitality Industry Performance 1st Quarter 2017

View of Santorini. Public domain

ATHENS. The Greek Tourism Confederation is optimistic for 2017 forecasting at least 26 million international tourists, representing an increase of 5% and significantly higher receipts, targeting at € 14.4 billion, an increase of 12.9% y-o-y. We assume that this increase is based on expected changes in the market mix, Hotels News Resource reports.

At the Athens International Airport total international arrivals declined in Q1 2017 with 0.6% y-o-y, mainly caused by the performance of the month of February, which recorded a drop of 7% y-o-y.

Occupancy levels as well as room rates of Athenian hotels showed a positive trend, resulting in an improvement of RevPAR in Q1 2017 of 12.3% y-o-y.

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GBR050117