Athens hotel prices exceed Madrid, luxury hotels drive growth

Hotel room prices in Athens have surpassed those in Madrid, driven by investments in luxury hotels and the entry of international chains. This trend is evident in both Athens and Thessaloniki, according to a recent report. Athens' average daily rate (ADR) increased by 10% in 2024 compared to 2023, and 42% compared to 2019. Thessaloniki's ADR also exceeded €100 for the first time. The expansion of luxury hotels and the presence of international brands, especially in the 5-star category, are key factors. Thessaloniki saw a 3% increase in hotel occupancy in 2024, with ADR up 6%. Several new hotel projects are underway, and the city is optimistic about tourism growth. The new metro line and the Thessaloniki aerial bridge are also expected to improve infrastructure.