Over 1 billion euros were the total investment of hotels For 2024, an amount corresponding to 9% of their turnover. The total amount of investments (which was € 1,028,581,504) 200 million euros in viability actions, according to a survey of the hotel industry, carried out by ITEP on behalf of the Hellenic Chamber of Commerce (FIFE), were invested in the total amount of investments (which was € 1,028,581).
It is noted that the percentage of investment in sustainability actions increased significantly in 2024, reaching about 19% of total investment, compared to 13.3% in 2023. “Our research confirms that the hotel industry is showing a noticeable momentum with a positive development. Proper policies must protect and strengthen Greek hotels as they are a stable pillar of economic and social progress throughout Greece and have the potential to offer even more, “said Greece’s Hotel Chamber of Commerce President Alexandros Vassilikos.
The same research demonstrates stabilizing tourist traffic during high demand months with completeness and prices remaining at a constant level compared to last year, while there is a clear trend of reinforcement in the cutting -edge months, which is reflected by increasing completeness and price in hotels.
Regarding the hotel turnover in 2024, it was € 11.5 billion, increased by 8.8% compared to 2023. Hotels 1*-3*, which make up 74% of hotels, recorded their turnover increase by 5% in 2024 compared to 2023. Hotels 4*-5*recorded their turnover by 10% by 10%. According to the same survey, about 80% of hotel revenue comes from overnight stays.
The total contribution (direct and indirect) to the produced product of the Greek economy is € 17,814.9 million and amounts to 5.9% of the GDP of the Greek economy, compared to 4.8% in 2023.
The hotel industry for 2024 supported more than 340,000 jobs in total (directly and indirectly). Of these, the 143,000 seats constitute indirect positions created in other sectors.
The hotel industry is also estimated to have contributed to the Greek economy’s external balance by about € 7.9 billion.
It is also noted that in the last decade the number of hotel units has increased by only 4% and the rooms by 11%, which even finds the quality upgrading of the country’s hotel potential, which proves that these hotels are not responsible for over -concentration of tourism.
The average percentage of foreign tourists in Greek hotels in 2024 was 69.2% at about the same level as in previous years. At the same time more than about 1/3 of hotel customers comes from online travel agents (OTAS).
Regarding the 2025 contracts, the survey shows that half of the hotels have signed contracts for 2025, at the same level as 2024. The percentage of seasonal hotels signed by 2025 contracts is 60% (2024: 55%).
Of these, 41%(2024: 72%) have signed contracts with prices increased by 8%, as well as last year. Of the seasonal hotels signed by contracts for 2025, 34% have signed a Commitment contracts, with 56% of their rooms, as well as last year.
Focusing on the most important difficulties faced by hoteliers in 2024, the research shows that they include staff finding, and the cost of energy while concern is still causing: operating costs, reduced full -length peak months, lack of workers and competition.
Source: RES – EIA