• The cities of Athens and Thessaloniki have commenced their recovery. Domestic traffic at the Athens International Airport is recovering faster than the international traffic, reaching a level of 78% and 70% respectively of 2019 for the month of March. 
  • In terms of international traffic, the airport of Thessaloniki is recovering faster than Athens reaching in March 2022 a level of 83% of 2019, while domestic traffic reach a level of 72%. With traffic picking up in March, the Thessaloniki hotel market registered a RevPAR of 80% of the level of 2019 in March 2022, while Athens reached a level of 62% of 2019 during the same month.
  • Overall, both the Athens and Thessaloniki hotel markets achieved a RevPAR of € 28 during Q1 2022. For Athens, that is significantly lower than its international Mediterranean peers of Rome, Barcelona, Madrid and Istanbul. Also, the performance of Thessaloniki stayed behind many international competitive markets with exception of German destinations, who registered low occupancy and room rates during the first quarter.
  • City hotels outside Athens and Thessaloniki achieved an occupancy level of around 38% during the first three months of 2022. With respect to resort hotels, few units were in operation during Q1 achieving occupancy levels below 35% on average.

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GBR Consulting is the leading hospitality and tourism consultancy in Greece. Its experience includes market and financial feasibility studies as well as valuations and development plans for Hotels, Resorts, Spas, Marinas, Casinos & Gaming, Conference Centers & Arenas, Theme Parks, Golf Courses etc. GBR Consulting is affiliated to CBRE Atria, the Greek arm of CB Richard Ellis, providing together a specialized service for Tourism Properties Transactions. GBR Consulting possesses a database with financial data for over 1,000 hotel establishments in Greece and has a datashare agreement with STR Global, the word's largest databank of hotel operational data.

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