Rate Increase and Stable Occupancy in Greek Hotels in July 2024: At 325€ for 5 Stars, At 174€ for the Average Room Rate
Greek hotels saw a significant increase in room rates in 2024, with the average rate for a double room reaching €174 for January-July 2024, compared to €153 for the same period in 2023. In seasonal hotels, the price increased even more, reaching €194 in July, up from €168 in the same month in 2023, according to exclusive data from MONEY & TOURISM.
At the same time, occupancy rates at Greek hotels remained consistently high, with the rate for July 2024 reaching 82.8%, compared to 82.7% in July 2023. Crete recorded the highest occupancy rate, reaching 89.3%, followed by the Ionian Islands. The average room rate in 5-star hotels showed the highest increase, reaching €325 in July 2024, up from €269 in the same period in 2023. Similarly, in 4 star hotels the price was 164€, while in 1 star hotels it remained stable at 71€.
At the regional level, the Ionian Islands achieved the highest average room rate for July 2024, reaching 218€, surpassing South Aegean with 213€ and Crete with 175€. These increases reflect broader tourism growth trends and the increasing demand for quality accommodation services, especially in luxury hotels.
The figures come from the research of the Institute of Tourism Research and Forecasting, which provides valid data on the Greek tourism market, highlighting the challenges and opportunities presented by the industry. Price increases, especially in high-end hotels, show the shift of travellers towards quality choices, while stable occupancy rates demonstrate Greece’s continued popularity as a destination.
This new landscape, while positive for the economy, requires careful management to ensure a balance between offer and demand in order for the Greek tourism industry to remain competitive.
