Q2 2013 Greek Hospitality Industry Performance
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.
Its Keypoints are:
- tourism picks up in the first half of 2013, with international airport arrivals and revenues up by 10% (Q1 and Q2) and 15.5% (Jan-May) respectively;
- resort hotels lead the race with RevPAR increasing by 18.7% in the first half of 2013;
- 18 hotels with ~2,500 rooms were added in the 5* category during crisis years 2009 - 2012;
- more than 60% of the 5* rooms (~60,000 in total) are branded or part of a marketing consortium;
- new legislation creates friendlier environment for development of multiple use resorts and strong incentives for foreign buyers in the form of Schengen Visa entitlement.
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