Attica changes its “face” and is filled with five-star hotels: the rapid increase in luxury hotels in recent years

By | May 14, 2023

Above him is the greek tourism with Five-star hotels are constantly increasing in Attica and luxury accommodations to “spawn” in every corner of our country. Investors “vote Greece” carrying enormous sums in their suitcases that come to change the “face” of the hotel infrastructure and to further improve the vacations made in Greece.

Our country is changing the level of tourism, attracting more and more visitors from all corners of the planet while continuous investments increase arrivals. tourists and of course the collections for the state coffers.

“The last five years only in Attica five-star hotels register an increase of 55%» the president of the Hellenic Chamber of Hotels and president of HOTREC, Alexandros Vasilikos, emphasizes speaking to Newsbeast. “The best brands are entering our country and a lot of funds are being invested in quality tourism investments,” she adds.

“Greek hotels are at the forefront of investment”

Referring to hotels in Greece, Alexandros Vasilikos points out that it is a fact that they are at the forefront of investment.

“Through the annual studies carried out by ITEP on behalf of the Hellenic Chamber of Hotels, we found that they invest every year in renovations from 600 million euros to 1000 million euros” the president of HOTREC (Pan-European Hotel and Catering Confederation) Tell us.

“This has an impact on both the quality characteristics of the hotel potential and the star rating, as we see a continuous increase in the share of 4 and 5-star hotels in the overall potential of the country and more specifically of Attica. It is very important that quality features increase in all hotel categories and that we offer all hotels “value for money”.» explains Alexandros Vasilikos.

The President of the Greek Hotel Chamber and President of HOTREC, Alexandros Vassilikos

“We see investments that can modernize and change the characteristics of our destinations for the better”

The president of the Greek Chamber of Hotels and president of HOTREC points out that at the moment we see many brands entering our country, as well as many funds being placed in quality tourism investments.

“Some of them are investments that can modernize and change the characteristics of our destinations for the better,” he clarifies and emphasizes: “You cannot stop referring to the project of ellinikou».

“Attica has seen its hotel potential grow by 8% in the last five years”

According to Alexandros Vasilikos: “Speaking in numbers, Attica has seen its hotel potential grow by 8% in the last five years. If we focus on five-star hotels, this increase is 55%. This also shows us the dynamics of the quality development. tourism».

“Certainly, hotels can offer the necessary condition for the necessary improvement of the indicators in relation to our competitors, but they must necessarily be accompanied by parallel investments in infrastructure”, concludes the president of the Greek Hotel Chamber and president of HOTREC.

The dynamic return of the Greek hotel

His Dynamic return of the Greek hotel Last summer, after the two difficult years (2020-2021) due to the coronavirus pandemic, reflects the annual survey for the hotel industry in 2022, which the ITEP carried out on behalf of the XEE

The survey, presented in April 2023, collects all the basic figures that make up the financial reality of the Greek hotel. At the same time, the study highlights the rapid recovery, the ability of the sector to adapt to the challenges of the moment, which is “the main pillar of the success of Greek tourism in the 2022 season.”

The main conclusions that emerge from the ITEP investigation are the following:

  • The average occupancy of August 2022 marginally exceeded that of the corresponding month of 2019, with 88% and 86.8% respectively.
  • In August 2022, 25% of double rooms were available at a price of up to €70, 50% of hotels were priced between €70 and €178, and the remaining 25% were available at a price higher than €178. euro.
  • The average price of a double room in August 2022 was 150 euros.
  • Total hotel billing in 2022 was slightly higher than in 2019.
  • Hotels in continuous operation registered a lower performance than hotels in seasonal operation in all key indicators (occupancy, prices, etc.), which translated into a drop in billing of -21.2% compared to 2019.
  • A similar picture emerges from the performance comparison between 4* and 5* hotels and 1* to 3* hotels (turnover compared to 2019: 4* and 5* +13.1%, 1– 3 -22.3%).
  • 18% of total hotel investments in 2022 were investments in sustainability.
  • About 1/3 of hotel customers come from online travel agencies (OTAs).
  • Of the hotels that have signed contracts with tour operators by 2023, 85% have signed contracts with prices increased by 11.4% on average.
  • The biggest challenge facing hoteliers in 2022 was staff and energy costs.
  • Competition from short-term rental accommodation and liquidity remain a major concern in the industry.

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