According to GBR Consulting, the leading hospitality and tourism consultancy in Greece, the cities of Athens and Thessaloniki have begun to enter their post-pandemic recovery mode.
The performance in the hospitality industry in Greece shows that domestic traffic at the Athens International Airport is rebounding faster than international traffic, reaching a level of 78 percent and 70 percent, respectively, of what it was in 2019 in Q1 2022.
In contrast, the international traffic at Thessaloniki's airport appears to be recovering faster than that of Athens, peaking at 83 percent of 2019 levels in March 2022, while domestic traffic reached a level of 72 percent. With traffic forecasted to rise in March, the Thessaloniki hotel market recorded a RevPAR of 80 percent of the level of 2019 in March 2022, while Athens attained a level of 62 percent of 2019 during the same month.
Overall, the Athens and Thessaloniki hotel markets acquired a RevPAR of € 28 during Q1 2022. For Athens, that is significantly lower than its international Mediterranean peers of Rome, Barcelona, Madrid and Istanbul. Additionally, the performance of Thessaloniki lagged behind many global competitive markets except for German destinations, which registered low occupancy and room rates during the first quarter.
City hotels outside Athens and Thessaloniki obtained an occupancy level of approximately 38 percent during the first three months of 2022. For resort hotels, few units were in operation during Q1 achieving occupancy below 35 percent on average.