The average room rate at hotels in Athens stood at €195 in the nine months from January to September 2026, up 7.5% from the same period a year earlier. Higher prices were the main driver of revenue per available room, as occupancy remained essentially unchanged.
According to GBR Consulting’s report for the third quarter of the year, average occupancy at Athens hotels stood at 77%, down marginally by 0.4% year on year. Despite this small decline, revenue per available room (RevPAR) rose by 7% to €151.
September was particularly strong, with revenue per available room rising by 15.1% compared with the same month in 2025, following two months of markedly slower growth. RevPAR growth had been limited to 1.4% in July and 0.9% in August.
The picture in Thessaloniki
Revenue per room grew more modestly in Thessaloniki, where higher rates were accompanied by lower occupancy.
In the nine months of 2026, the average room rate stood at €111, up 4.4% year on year, while occupancy fell by 1.4% to 69%.
As a result, revenue per available room rose by 2.9% to €76, below the level recorded in Athens.
September also brought a significant improvement in Thessaloniki, following mixed results during the summer months. Occupancy reached 84%, while the average room rate rose by 6.9%, driving RevPAR up by 11.3%.
Resort performance and tourist arrivals
At resorts, average occupancy held at 86% in the nine-month period, edging up by 0.3%. Total daily revenue per occupied room rose by 10.2% to €371, while revenue per available room increased by 10.5% to €318. Overall, resort revenues rose by 12.9%.
Hotel revenues in the country’s two largest cities are rising at a time when international tourist flows to Greece continue to strengthen, but hotel arrivals and overnight stays are not growing at a comparable pace.
According to Bank of Greece data cited by GBR Consulting, inbound travellers increased by 10% in the first eight months of 2026, while travel receipts, excluding cruise tourism, rose by 9.7%.
Over the same period, arrivals of foreign tourists at hotels rose by 1.6% and their overnight stays by 1.2%. At short-stay accommodation, the corresponding increases were 4.7% and 4.4%.
Bank financing
New bank lending to businesses in the accommodation and food services sectors totalled €748 million in the first eight months of 2026, up 18% from the same period in 2025 and 28% compared with 2023.
However, the increase was driven by large businesses, for which new lending rose by 95% to €348 million. By contrast, financing for small and medium-sized enterprises fell by 13% to €400 million.
As a result, large businesses accounted for 47% of new bank lending to the sector, compared with 28% in the same period of 2025 and 17% in the first eight months of 2023, reflecting a shift in financing towards larger businesses.