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Ups and Downs of Hotels in Greece

The newest study by GBR Consulting throws a light upon the situation with Greek hotels. The third quarter was also quite complicated for the accommodations in this country, but at the same time there were some positive factors as well. While hotels in Athens keep struggling with the consequences of political unrest and the decline in arrivals of 2.1% comparing to the previous year, other parts of the country feature the improved number of international visitors.

All main airports of the country including Thessaloniki show improved stats. They finished the third quarter with the increase of as much as 12.3%. The number of arrivals in the country is really amazing and GBR already predicts that 2011 can become the record year for the country.

RevPAR level is also improving. This is particularly true for hotels located in resort destinations of Greece. Here RevPAR increased by 11.4%. The total sum of receipts from international tourists also has increased comparing to the previous year. In August 2011 this sum estimated €2,378 million, which is 6.5% higher than in August 2010 (€2,233). Even though this digit is not as stunning as in June and July (13.4% and 16.7%) the positive trend makes experts issue positive forecasts about the future of the region.

The return of German tourists to the resorts of Greece is surely a positive sight. The increase of arrivals estimated 13.3%. The visitors from this country also left 11.8% more money this summer comparing to the previous year. However, the signs of recovery of resort destinations cannot cure whole industry. Winter destinations rely on local tourists only, while owners of hotels in cities are very pessimistic about their results. Athenian accommodations are the most pessimistic ones.

10.11.2011

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