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Opinion Article Development

May 22, 2014

HVS In Focus - Mykonos and Santorini, Greece

This article summarizes the performance of two of the most important Greek island tourism destinations. Until recently, Greece had a strong advantage in that it was considered to be a stable country showing a relative resilience as a tourist destination towards major global events. Since 2009 though, the negative publicity stemming from the rumours regarding the potential bankruptcy of Greece and the historically largest bail‐out implemented by the IMF in order to avoid this situation, led to a socio‐political and economic turbulence which generated significant fluctuations in tourist arrivals during 2009‐12...

By Pavlos Papadimitriou, Director with the Athens Office, HVS

Press Release Markets & Performance

April 30, 2014

Q1 2014 Greek Hospitality Industry Performance

The impact of the Greek crisis on the Athens tourism industry in the period 2010 to 2013 has been significant (full analysis here). GBR Consulting has estimated that the total loss in that period amounts to € 2.5 billion for the sector as a whole, of which € 820 million was for the Athens hotels. However, Athens tourism has been recovering since May 2013, as the negative headlines on Greece disappeared and a positive outlook started emerging. In the first quarter of 2014, we have seen significant increases in international tourist arrivals (+32%) as well as significant improvements in occupancy levels, albeit with stabilising room rates, which remain 21% lower than the corresponding quarter of 2008.

Press Release Sales & Marketing

April 14, 2014

Voting opens ahead of World Travel Awards Europe Gala Ceremony 2014

After an exhaustive search, World Travel Awards has revealed the nominees for its Europe Gala Ceremony 2014. Hundreds of entrants have been whittled down to the few who will proceed to the voting stage of the annual event, with industry professionals and members of the travelling public now invited to vote for nominee companies of their choice.

World Travel Awards

Press Release Development

February 18, 2014

Grace Hotels Announces New Development: Grace Kalamata Greece to Open 2017

Grace Hotels has announced plans for a new hotel development including residential villas just outside the historic city of Kalamata, in the south western part of the Peloponnese in Greece. The hotel will comprise 125 rooms and suites plus up to 40 luxury residential villas, each with three, four or five bedrooms.

Press Release Markets & Performance

February 3, 2014

Q4 2013 Greek Hospitality Industry Performance

Total number of international tourists to Greece reached record levels of 17.8 mn and associated revenues also reached record levels of € 11.5 bn in 2013, both up by 15% from 2012; Arrivals from China grew spectacularly by 85% year-on-year, while Russia and Turkey showed increases of 49% and 45% respectively; Very high tourist satisfaction rates in Athens and Thessaloniki based on the lastest satisfaction surveys carried out by GBR consulting; Positive outlook for 2014 based on bookings so far and on the barometer 2014 Q1 for the hotel sector. About 18 mn international arrivals are expected this year and € 13 bn of revenue.

Press Release Markets & Performance

December 4, 2013

Q3 2013 Greek Hospitality Industry Performance

Keypoints are: Greek tourism continued its upward trend with +10% in arrivals and +13.7% in revenues; The Russian market has doubled both in terms of arrivals (~928K ) and revenues (~ € 975 mn); Hoteliers remain bullish about prospects for Q4; highest optimism exhibited by 5* hoteliers and resort hoteliers...

Press Release Development

August 26, 2013

Aria Hotels Adds the Elatos Resort and Health Club on Greece’s Mount Parnassos to its Collection

Aria Hotels, a specialist in authentic Greek hospitality in the country's lesser-known hideaways has added the Elatos Resort & Health Club to its collection of boutique hotels and villas. Elatos is a hidden gem just over two hours from Athens on Greece's Mount Parnassos offering quiet, relaxed skiing in winter and glorious hiking, mountain biking and other country pursuits all year round. In the coming months the hotel will undergo a number of improvements and upgrades which should be completed by December 2013.

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Press Release Development

August 8, 2013

Starwood Hotels & Resorts Expands Footprint in Greece with the Debut of King George, a Luxury Collection Hotel, Athens

Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announces the internationally-renowned King George hotel in Athens joins The Luxury Collection portfolio following a three-month renovation. Owned by Lampsa Hellenic Hotels S.A., King George, a Luxury Collection Hotel, Athens has been redesigned for a new generation of luxury travelers, offering discreet and personalized service in the iconic Greek capital. With this opening, Starwood expands its footprint in Greece where it now operates 11 hotels and resorts, including eight under The Luxury Collection brand.

Press Release Markets & Performance

July 31, 2013

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.

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Press Release General Management

July 4, 2013

trivago Reputation Ranking: Greece Tops Mediterranean Destinations

With the summer holidays drawing close, hotel comparison website www.trivago.co.uk has ranked Mediterranean beach destinations according to the reputation of their hotels. The reputation percentage is calculated from over 34 million user ratings and reviews compiled from over 160 booking sites. Included in the ranking are destinations with over 5000 aggregated reviews.

Press Release Markets & Performance

May 1, 2013

Q1 2013 Greek Hospitality Industry Performance

Keypoints are: A good start for the year for the resort destinations, but a bad start for the main cities Athens and Thessaloniki; Hoteliers are overall optimistic for 2013 with significant improvements expected in occupancy, while expectations on room rates vary depending on the type (City or Resort) of hotel, along the same lines as the experience of Q1...

March 28, 2013

VOILA Hotel Rewards Adds Xenia Villas to Worldwide Network and Brings New Experiences to the Ancient World

VOILA Hotel Rewards (www.voilahotels.com) today announced the expansion of its network with the addition of Xenia Villas (www.xeniavillas.gr) inGreece. This recent addition is another step in the company's focused strategy to increase VOILA Hotel Rewards presence worldwide. The Greek word "Xenia" translates to "hospitality shown to strangers" and that's precisely what guests enjoy while staying at the privately owned chain of luxurious villas with private swimming pools. Starting now, VOILA members can earn points and exchange them for stays at any of 16 Xenia Villas worldwide in Greece.

Press Release Development

March 8, 2013

Starwood Hotels & Resorts Expands Its Luxury Portfolio In Greece With King George, A Luxury Collection Hotel, Athens

Starwood Hotels & Resorts Worldwide announced that the internationally-renowned King George Hotel in Athens will join The Luxury Collection Hotels & Resorts’ ensemble of the world’s finest hotels. In partnership with Lampsa Hellenic Hotels S.A, Starwood will open King George, a Luxury Collection Hotel, Athens later this year. The opening will mark The Luxury Collection’s eighth hotel in Greece, reinforcing the brand’s global growth as it remains on track to surpass 90 hotels by 2016.

February 1, 2013

Q4 2012 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 socioeconomic developments.

Press Release Development

December 11, 2012

Investors Eye Greek Hotels | MKG Reports

A large chunk of hotels in Greece are being forced to sell, with values expected to drop drastically according to experts at the recent 13th Greek Prodexpo conference on property held in Athens. Banks will need to write off bad debts, freeing up hotel real estate to be purchased by foreign investors, funds and private equity firms. "The real challenge for investors will be choosing optimal opportunities, such as prime hotel assets and good value properties in high potential markets. As such, hotel valuation methods will come under scrutiny, and at the same time be the key to making the right purchase," says Senior Consultant Market Feasibility Studies and Valuations, MKG Hospitality, Colette Ambiehl who was speaking at the event.

Press Release Markets & Performance

October 31, 2012

Q3 2012 Greek Hospitality Industry Performance

After the difficult year of 2010 and the strong recovery in 2011, the Greek tourism industry as a whole showed signs of stabilisation in 2012. Considering the constant stream of negative news from Greece, this can be evaluated as positive. However, there are major regional differences. With respect to arrivals YTD September, Athens suffered most with a decline of 11.9%. On the other hand, Thessaloniki saw an increase in the number of international arrivals with 7.4%, while the rest of Greece stabilized in Q3 with the same number of arrivals as Q3 2011. In this segment we see the Dodecanese islands of Rhodes and Kos declining, the Ionian islands of Corfu, Zakinthos and Kefalonia increasing and Crete and Cyclades stabilising.

Press Release Markets & Performance

August 1, 2012

Q2 2012 Greek Hospitality Industry Performance

Greece has left a difficult second quarter behind with a first round of elections on May 6th 2012 and a second round on June 17th2012, after which a coalition government was formed headed by Mr. Antonis Samaras, leader of the New Democracy party. Mainly due to the continuing political and economic uncertainty around Greece in the second quarter, international arrivals declined 4.6% overall comparing the first six months of 2012 and 2011. Athens showed the biggest drop of all international airports in Greece of 15.1%, while Thessaloniki saw their international arrivals increasing with 7.0%.

May 1, 2012

Q1 2012 Greek Hospitality Industry Performance

This newsletter provides a snapshot of the performance of Greek hotels based on a sample of more than 180 hotels & resorts in Greece. The hotel performance data is complemented by data from other sources so as to place the Greek hospitality industry in the context of Greek tourism and of the International Hospitality Industry. Finally, the outlook of the industry, as seen by hoteliers themselves, is given.

Press Release Markets & Performance

February 3, 2012

Q4 2011 Greek Hospitality Industry Performance

This newsletter provides a snapshot of the performance of Greek hotels based on a sample of more than 180 hotels & resorts in Greece. The hotel performance data is complemented by data from other sources so as to place the Greek hospitality industry in the context of Greek tourism and of the International Hospitality Industry. Finally, the outlook of the industry, as seen by hoteliers themselves, is given.

Press Release Development

November 17, 2011

Rezidor announces the Radisson Blu Park Hotel, Athens

The Rezidor Hotel Group, one of the fastest growing hotel companies worldwide, announces the Radisson Blu Hotel, Athens: The existing Athens Park Hotel will be rebranded as Radisson Blu Park Hotel Athens by mid December 2011. The property featuring 152 rooms is Rezidor's very first hotel in Greece - the company is now present in 65 countries across Europe, Middle East and Africa.

Radisson Hotel Group