GBR Consulting Reports Greek Hospitality Industry Performance 2nd Quarter 2019 (PDF Download)

Parthenon, Greece - Photo by Puk Patrick on Unsplash
GBR Consulting Reports Greek Hospitality Industry Performance 2nd Quarter 2019 (PDF Download)

Foreign residents arriving at the International Airport of Athens increased 11.0%  during Q2 2019 compared to the same quarter last year. Performance of April was particularly strong with an increase of 20.5% y-o-y, while May and June recorded single digit growth rates of 9.7% and 6.1% y-o-y respectively. It should be noted that these international arrivals include passengers that are transferring in Athens to other domestic destinations.

RevPAR in the Athenian hotel sector dropped by 1.2% during Q2  2019, while YTD H1 2019 a drop of 2.9% was recorded. Occupancy has dropped in each month this year so far, while room rates during the first half year of 2019 remained stable with an increase of just 1%. However, room rates dropped significantly by 4% y-o-y in June 2019.

In Thessaloniki International arrivals at the airport increased by 5.5% y-o-y during Q2 2019 leading to an increase of 7.4% for the first half of 2019. RevPAR performance of the Thessaloniki hotel sector during Q2  2019 was flat with an increase of 0.2% y-o-y, caused by disappointing results in June with a significant drop in occupancy levels of 5.6% y-o-y.

International airport traffic at the main resort locations are up by just 0.9% y-o-y in Q2 2019. In the first 6 months of 2019 the Dodecanese remained stable with an increase of just 0.9% y-o-y for H1 2019, while international traffic at the airports of Crete and the Ionian Islands dropped by 3.4% and 0.3% y-o-y respectively over the same period. Only Mykonos and Santorini as well as Kalamata and Araxos increased the number of international passengers by 9.7% and 8.3% y-o-y respectively during H1 2019.

Overall, the Total Revenue per Available Room of the resort hotels increased by 6.8% during the second quarter of this year, while up to June 2019 the TRevPAR improved by 6.1% y-o-y. However, there are differences per category. While the 5-star resort sector showed a robust performance with a growth of 8.6% of TRevPAR during H1 2019, the 4-star resort sector recorded a drop of 2.6% y-o-y, the 3-star segment remained flat and the 2-sector increased its TRevPAR by just 2.6% y-o-y.

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GBR Consulting is a leading Greek business consultant firm. GBR Consulting supports clients develop their businesses in a structured manner leading to growth. The firm offers their clients, who are mainly active in the tourism, retail, food, construction and energy sectors, lasting solutions in the field of strategy, marketing, organisation and finance, while also delivering litigation support.

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