Decline in occupancy and Booking of Hotels during Q1 in Greece

The hotel industry declined in the first quarter by 2019, with a decrease in occupancy, prices and retention, according to the Conjunctural Survey conducted by the Institute for Tourist Research and Forecasting (IRIS) on behalf of the Greek Chamber of Commerce.

According to the Survey, entitled “Hotel Performance in the First Quarter and Forecasts for the 2019 Tourist Season” -which took place in a sample of 1956 Greek hotels out of a total of 9,873 – 45% of the open all year hotels showed reduced occupancy, while 1 in 4 hotels showed a decrease in their prices.

Respectively, 46% of seasonal hotels recorded a decrease in their bookings, while 23% of them had to reduce the prices they offer for Early Bookings to attract new customers.

In conclusion, as shown in the Conjuncture Survey, and in particular in the first quarter of 2019, in hotels operating continuously: – 45% of units recorded reduced occupancy in the first quarter of 2019 compared to the corresponding quarter of 2018. On average, reached 24%. – In terms of territory, the decrease in occupancy was 7.4%. – In the same period, 1 in 4 hotels (25%) reduced their prices, with an average decrease of around 15%, while 64% of hotels maintained their prices constantly.

Similarly for seasonal hotels, the Survey finds that: – In 46% of the hotels, the bookings, which are the indicator of the course of tourism, showed a decrease, which averaged 21%. – As far as hotelier discounts on Early Bookings are concerned, 75% said they kept their fixed rates while 23% were forced to offer increased discounts to attract new customers.

At the same time, the Conjuncture Survey for the predictions of the tourist season 2019 for hotels operating continuously records that: – 31% of hoteliers estimate that the hotel’s occupancy in 2019 will be lower than in 2018. The average decline is expected to be around 20%. – Respectively, 21% of hoteliers expect a fall in their prices. On average, the reduction is estimated at 13%. Lastly, 65% of them will keep their prices stable in 2019.

For seasonal hotels, the Survey concludes that: – Seasonal hotels are being hit harder. Thus, 43% of hoteliers estimate their fullness during the summer season of 2019, with an average decline of around 16%. – 16% of hoteliers expect their hotel prices to drop compared to the corresponding 2018 season.At the national level, the average decline is estimated to be 13%. 60% of them will keep their prices stable. –

Finally, the study shows that there is a regional disparity in performance and that there is a need to support lower class hotels as they are under the greatest pressure on price and occupancy indices nationwide.

Commenting on the study of the Technical University of Athens, the President of the Hellenic Association, Mr. Alexandros Vassilikos, stressed that: “Through the cooperation he has concluded with the Technical Chamber of Greece he gives an accurate” photo of the moment “about the situation of the Greek hotels. Instead of arbitrary estimates, we now have a primary scientific research on an excellent sample which reflects the real data of Greek hotels for the first quarter of this year, but also the industry’s assessment of how market sizes will move to Continuity.

Now with the findings of the survey, it is clear that they confirm the “bell” of the worry that we are now hitting. A series of indicators highlights the major challenges and threats to hotels, which are the backbone of Greek tourism. That is why they should seriously consider the next government that will emerge from the elections in a few days. In our institutional role, we are ready to contribute with positions and proposals so that the Greek hotel can continue to make a big contribution to the economy and society. ”

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