80% of continuously operating hotels in Greece remained open in December 2024, according to data from the Institute of Tourism Research and Forecasting (ITEP), and had an average occupancy rate of 44.7%. This represents a slight decrease compared to December 2023, when the average occupancy rate was 47%.
Room Rates
The average double room rate in December 2024 was 78 euros, up slightly from 76 euros in the same month in 2023. The median rate, which divides the total number of rooms into two equal parts, increased to 70 euros from 65 euros in 2023.
At the hotel level, the average double room rate was 74 euros in 2024, up from 69 euros in 2023. The median rate remained stable at 60 euros for both years.
The Average Room Rate (ARR) is calculated as a weighted average of the average room rate for all hotel rooms. The median room price is the price that divides the total number of rooms into two equal parts, with 50% of the rooms having a price lower than the median and the remaining 50% having a price higher than it.
In general, the median price appears higher than the median, as it is affected by outliers (e.g., hotels with very high room prices). In contrast, the median price is not affected by these outliers, as it only takes into account the central values ??of the distribution.
Despite the small decrease in average occupancy, the increase in average and median room prices indicates a positive trend in the Greek hotel market in December 2024. These increases may reflect improvements in the services provided, facility upgrades, or increased demand in specific areas.
It is important for hoteliers to closely monitor these trends so that they can adapt their pricing strategies and service offerings, ensuring their competitiveness in the market.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report
