Oversupply Ηits Greek Hotels’ Occupancy Rates

February 10, 2020

ATHENS – An oversupply of beds in Athens is hitting occupancy and expenses of hotels in Athens, Evgenios Vasilikos, secretary general of the Athens – Attica & Argosaronic Hotel Association said on Monday.

In comments made to reporters, Vasilikos said he expected this problem to continue in 2020 since new hotels are opening in the capital while short-term leasing is on the rise. Athens hotels reported a 2.2 pct decline in their occupancy rates in 2019, while revenue per room fell 1.4 pct and average room price rose 0.9 pct.

Vasilikos said Athens seemed not to be affected by a Brexit and its consequences on tourism flows.


The continuation of the pandemic continues to raise hurdles in forecasting the short-term trend of the country's Gross Domestic Product, but based on available data the Greek GDP is expected to rise by 5,2% in the first half of 2022 (7% in the first quarter and 3.

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