Ενημερωτικό Δελτίο Φιλοξενίας

Hotel performance in Athens began 2025 with solid results, showing increases in both occupancy and ADR in Q1 compared to the same period in 2024. In April, occupancy declined by 5.6%, while ADR rose by 4.6%, resulting in a 1.3% drop in RevPAR. May was strong, but in June, both occupancy and ADR declined by 2.0% and 3.9%, respectively.

After several years of robust post-COVID expansion, a stabilization of hotel performance is expected. Hotel supply has increased significantly, and a substantial pipeline of new rooms is under development. At the same time, the Short-Term Rental (STR) market in Attica continues to grow, with a 17% increase of units in 2025, putting additional pressure on hotel occupancy, while prices in the STR sector continue to rise.

Preliminary July figures indicate a drop in both occupancy and ADR for the Athens hotels. Demand was weak putting pressure on prices and for August the market is not optimistic.

Hotel performance in Thessaloniki showed steady improvement during the first half of 2025, with occupancy increasing by 4.3% and ADR rising by 4.4% compared to H1 2024.

The resort hotel sector in Greece opened the season in April 2025 with a 4.1% decline in occupancy compared to a year earlier. However, Total Revenue per Occupied Room (POR) rose significantly by 25%, while rooms available increased by 27% in April 2025 compared to same month last year.

Overall, during Q2 2025, weak occupancy performance was recorded. YTD June 2025/24, occupancy declined by 1.1%, while Total Revenue per Occupied Room increased by 10.3%, with May as the weakest month. As a result, Total Revenue per Available Room (RevPAR) improved by 9.1% in H1 2025/24.

After years of record-breaking growth in Greek tourism, an increasing number of stakeholders are voicing concern over the absence of a clear strategy for Greek tourism and the urgent need to address key challenges — many of which were outlined in our 2024 Q3 newsletter.

We note that Greece still does not have a defined vision for its tourism sector - one that expresses a long-term aspiration and a desired future state, supported by a new strategy capable of bringing this vision to life. The need for both has by now become acute. Tourism sector development is needed that no longer erodes what makes Greece attractive — but rather actively protects and enriches it. Tourism should serve local communities, their societies and environment, not displace them; and it should support cultural heritage and continuity, not dilute it or even delete it

Governance structures must follow strategy. While Destination Management Organizations (DMMOs) are increasingly being established in various regions and destinations, they too require a clear national vision, strong regulatory backing, and adequate resources to function meaningfully.

Investors and financiers will play a key role in shaping the future of tourism in Greece. By aligning their projects with a long-term national vision, they can both safeguard their investments and create value for all stakeholders.

At the end of July 2025, it was announced that Spanish investment firm Azora acquired a 50.1% stake in Donkey Hotels, the hospitality group owned by the Ioannou family, who retain 49.9% of the business, represented by Mr. Christos Ioannou. Donkey Hotels consists of:

Zeus International Hotel & Resorts acquired the Eretria Hotel & Spa in Evia. The deal was announced in July 2025 and was part of a strategic agreement with an international fund. The 4-star resort offers 220 rooms, 3 restaurants and 2 bars, spa & fitness center, large conference and meeting facilities, kids club, sports facilities and shops.