Athens hotels closed the first quarter of 2024 with an average occupancy rate of 68.7%, compared to 63.9% in 2023, according to the Athens Hotel Association of Attica and Argosaronikos.

The average hotel occupancy rate for the four months was not recorded as particularly impressive nor as expected for the capital's hotels, according to a statement.

In fact, the positive change recorded (of 7.6% in the four months compared to 2023) certainly does not represent the expectations of hoteliers from 2024, always according to the statement.

However, as the first quarter includes the traditionally "sluggish" winter months, a more positive development is expected in view of the summer.

The same applies to the 7% increase in Average Room Rate (ADR) quarter-on-quarter compared to the same period in 2023, which reached 110.77 euros from 103.52 euros, while Revenue per Available Room (RevPar) performed better, reaching 76.12 euros in the first quarter of 2024, compared to 66.13 euros in the first quarter of 2023, and an increase of 15.1%.