Signs of market saturation in the Athenian hotel industry
Signs of market saturation in the Athenian hotel industry

Signs of market saturation in the Athenian hotel industry

The vast majority of the tourist accommondation premises in Athens (about 94%) are Airbnb-type entities.
RE+D magazine
13.12.2022

The rapid spread of short-term rental accommodation has covered an overwhelming percentage of the large increase in demand for accommodation services in recent years in Athens

Almost half of the beds (about 43%) that are available in Athens are mainly non-hotel accommodation (Airbnb and rentals), with the vast majority of them (about 94%) concerning Airbnb-type accommodation, with the short-term rental rooms and beds offered have increased by 374% and 377%, respectively.

In contrast, hotel rooms and beds have increased by only 11% and 12%, respectively.

Those are just some of the data comprised in the latest study of the Institute of Tourism Research and Forecasting (ITEP) on the so-called "Carrying Capacity of Athens - Attica as a tourist destination" which was presented in the context of the 52nd annual general assembly of the Athens Hotel Association – Attica and Argosaronicum (EXAAA) which was presented by Panteion University Assistant Professor Mr. Giorgos Soklis.

In September 2022, 12,165 Airbnb-type accommodations were operating in the Athens area, a number that is a record for the entire period under review, while in July 2015, only 2,116 such accommodations were operating.

These accommodations, which extend mainly in the areas of Emporiko trigono, Koukaki - Makrygianni, Museum - Exarchia, Neapoli, Neos Kosmos, Agios Konstantinou, Acropolis, Kolonaki, Thisio, Kerameikos, Petralona, Kypseli, Stadiou, Zapeio, Gazi, have created a an increase which actually implies an increasing attraction of more tourists and potentially risks in terms of the balance of urban development of the center of Athens", states the research.

The tourist density in the area is extremely high, which implies that the Athens area may have exceeded or is already at the limit of its carrying capacity.

The good news is that the rooms offered in the Athens area belong to higher categories, while the seasonality of tourist activity in hotel accommodation is already significantly lower compared to the rest of the territory, resulting in the easing of tourist pressure.