AIROTEL is looking to increase revenue further in 2026, with booking trends raising hopes for the current financial year after revenue edged up and profitability declined in 2025.
At the same time, the company, whose chairman and chief executive is Alexandros Vassilikos, focused in 2025 on upgrading its facilities, including renovation work at the Achaia Beach in Patras.
The outlook for 2026
According to the management report accompanying AIROTEL’s financial statements, management sees positive signs for revenue growth in 2026, based in part on booking trends.
The company’s hotels, it says, have recovered in terms of both occupancy and room rates. There are significant signs of further revenue growth this year, although management expects a slower rate of increase. The company describes the outlook for 2026 as good, despite pressure from the energy crisis and inflation.
Management’s main priorities include controlling operating costs, curbing non-productive expenditure and further improving the services provided.
Investment and the Achaia Beach
On the investment side, net payments for the acquisition or sale of fixed assets reported in the cash flow statement amounted to €833.8k in 2025, compared with €229k in 2024, an increase of about 264%. The financial statements do not specify which hotels or particular projects the amounts were spent on.
The management report separately highlights renovation work carried out at the Achaia Beach in Kastellokampos, Patras, while the hotel was closed. The hotel operated from 19 February to 30 October in 2025.
Financial performance
AIROTEL’s revenue came to €11.54m in 2025, compared with €11.42m in 2024, an increase of 1.03%. At the same time, earnings before interest, tax, depreciation and amortisation (EBITDA) fell to €2.85m from €3.05m in 2024, while profit before tax fell to €1.33m, from €2.63m.
However, 2024 results had been boosted by one-off income of about €1.38m, arising from a settlement of liabilities linked to a sale-and-leaseback transaction.
The portfolio
The wider hotel portfolio of Alexandros Vassilikos’s group, as presented on the official website of Vassilicos House of Hospitality, comprises eight hotels in Athens, Patras and Kavala.
These are the Stratos, Alexandros, Parthenon and The Editor in Athens; the Achaia Beach, Patras Smart and Mercure Patras Astir in Patras; and the Galaxy in Kavala. The Editor is listed as a hotel managed by Vassilicos House of Hospitality.
Of these eight hotels, four are identified in AIROTEL S.A.’s 2025 financial statements as properties operated by the company. They are the Stratos Vassilikos and Parthenon in Athens, the Galaxy in Kavala and the Achaia Beach in Patras.