Greek hotels turnover has marginally jumped above 2019 levels in 2022
Greek hotels turnover has marginally jumped above 2019 levels in 2022
  Economy  |  Tourism  |  Hotels  |  Greece

Greek hotels turnover has marginally jumped above 2019 levels in 2022

RE+D magazine
06.04.2023

Greek hotels turnover has marginally jumped above 2019 levels according to the annual survey for the hotel industry in 2022, carried out by ITEP on behalf of the Hellenic Chamber of Hotels.

According to the research data, the hotels operated seasonally for 5.6 months and continuously for 11.4 months in 2022. The average occupancy in August 2022 slightly exceeded that of the corresponding month in 2019, with 88% and 86 .8% respectively.

On August 22, 25% of double rooms were priced up to €70, 50% of hotels were priced between €70 and €178 and the remaining 25% were priced above €178.

The average price of a double room in August 22 was €150.The total hotel turnover in 2022 was marginally higher than in 2019.

Continuous operation hotels recorded lower performance than seasonal operation hotels in all key indicators (occupancy, prices, etc.) resulting in a drop in turnover of -21.2% compared to 2019.

A similar picture emerges from the performance comparison between 4* & 5* hotels and hotels from 1* to 3* (turnover vs 2019 : 4* & 5* +13.1%, 1*- 3* -22.3%).

The hotels invested over €600 million in repairs, renovation, maintenance. 18% of total hotel investments in 2022 were sustainability investments. About 1/3 of hotel customers come from Online Travel Agents (OTAs).

Of the hotels that have signed contracts with tour operators for 2023, 85% have signed contracts with prices increased by 11.4% on average.

The most significant difficulty hoteliers faced in 2022 was staffing and energy costs.

Competition from short-term rental accommodation and liquidity continue to be a major concern in the industry.

The President of the Hotel Chamber of Greece (H.E.E.) Alexandros Vassilikos, commenting on the results of the survey, stated that: "The hotels proved their adaptability and dynamics. They are the backbone of Greek tourism, which in 2022, as everyone recognizes, contributed the most to the Greek economy and to the support of society. Of course, in a changing global market, there are major demands, such as sustainability, digital transformation, protection against unfair competition, thematic enrichment and destination diversification, which require special attention and care in the context of an integrated long-term strategy. breath. It should be a priority for the new government of the country that will emerge from the upcoming elections, in order to shield and strengthen this dynamic of the Greek hotel, which can give even greater values to the country. In a global economic storm, the contribution of the hotel and tourism is more than decisive in order to tie the ship of the Greek economy to a safe harbor".