This newsletter provides a snapshot of the performance and outlook of the Greek hotel industry, within the broader context of the international hospitality industry as well as of Greek tourism and Greek socio-economic developments.
Speaking at a panel session at the Hyatt Regency Pravets Resort in Bulgaria today, World Travel & Tourism Council (WTTC) President & CEO Julia Simpson revealed that the WTTC 2023 Economic Impact Research (EIR) today forecasts that 10% of the Bulgarian economy will come from Travel & Tourism by 2033.
The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals Italy’s Travel & Tourism sector is recovering strongly post-pandemic.
Berlin’s hotel industry recorded its highest performance since September 2022, according to preliminary June 2023 data from STR.
In the latest updates on the regional market performance of the hotel industry in the United Kingdom, we share year-to-date data from May for 2023 compared to the same period in 2022 and 2019, according to HotStats’ monthly Hotel Benchmarking reports.
The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals the Portuguese Travel & Tourism sector is projected to exceed the 2019 peak this year.
Italy is seeing a growing investment appetite for luxury branded hotels, according to the latest study from Global Asset Solutions.
The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals the Greek Travel & Tourism sector is projected to near pre-pandemic levels this year.
C&W Hospitality Market Beat – Greece Q1 2023While the Greek hospitality industry is facing staff shortages and rising operational costs, the sector continues to show remarkable recovery after the pandemic. According to the Bank of Greece, the tourism sector in Greece experienced a surge in activity during Q1 2023, with international visitor arrivals soaring by an impressive 74.7% compared to the same period in 2022. the turnover of hospitality enterprises grew by 28.6% in Q1 2023 (year-on-year), to reach €375 million, with Thessaloniki-based enterprises recording the highest increase at 70.9%. Similarly, restaurant businesses reported a 27% increase in turnover, totalling €1.5 billion during the same period.
The Dutch hotel industry is recovering well from the corona crisis. The somewhat ailing economy does not apply to hotels. Hotel real estate has clearly presented itself as a stable and solid asset class, says Ewout Hoogendoorn of Horwath HTL during PROVADA 2023.
London’s hotel industry reported its highest revenue per available room (RevPAR) since October 2022, according to preliminary May 2023 data from STR.
Beautiful whitewashed houses adorning green hills overlooking the shimmering Mediterranean Sea, crystal-clear waters, golden shores, bougainvillaea-filled alleys, cobbled pedestrian streets, a vibrant nightlife, and exquisite accommodation are just a few components of a Paros vacation that will capture your heart for eternity. Whether you are after utmost pampering and VIP experiences or more authentic and relaxed ventures, the Cyclades island is a dream destination, indeed. Although not as popular as its other siblings, such as Mykonos and Santorini, it, too, bewilders with its own special appeal. Among the many options available, the best accommodation is an issue many visitors wonder about. Here are some basic details to help make up your mind!
Amsterdam’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) for any month on record, according to preliminary April 2023 data from STR.
In an environment of a significant slow-down of the global economy, geopolitical tensions, inflated energy& food prices and rising interest rates - leading to soaring costs for businesses and households - the Greektourism sector showed a strong performance in 2022 mainly on the back of pandemic related pent-updemand and accumulated savings, the strong labour market and temporary policy measures worldwideto contain energy costs. The Greek luxury hotel sector registered significant growth in 2022 compared2019, supported by the return of the Americans. Travel receipts of international business travel to Greeceincreased by 6.1% in 2022 compared to 2019.
Multiple events in the U.K., including the King’s coronation and Eurovision, are driving hotel occupancy on the books in both London and Liverpool, according to STR's Forward STAR data.
Tech-powered short-term rental operator Bob W has made its entry into the German market with the acquisition of Charly Hospitality.
After two years since the COVID-19 pandemic started, the tourism market in Croatia has almost completely recovered in 2022, with only 2% fewer overnight stays than in 2019. Hotels achieved 5% higher revenues in the summer season than in 2019, primarily due to higher ADR. Occupancy reached 79%, 25% above the 2021 season but still 9% below 2019.
Madrid and Barcelona are in an intense competition to attract travelers to their hotels. Madrid, the landlocked Spanish capital, is a popular business and MICE (Meetings, Incentives, Conferences, and Exhibitions) destination, while Barcelona is a coastal city known for its beaches and is the capital of Catalonia. Before the pandemic, Barcelona suffered from overtourism, while Madrid is trying to attract more tourists.
In 2022, the hotel transaction activity in Spain reached €3Bn; a level only exceeded in 2017 and 2018 (record years). The total volume was 21% above 2021, despite the economic and political concerns. The rising popularity of resorts within hotel investments, as well as the continued attractiveness of major gateway cities with a strong leisure appeal, contributed to this significant growth.
Aligned with seasonal trends, Berlin’s hotel industry reported higher levels of occupancy and revenue per available room (RevPAR) month over month, according to preliminary March 2023 data from STR.