Attica hotels see revenues drop in Q1 due to short-term rentals
The major increase in short-term holiday rentals in Athens and other large cities in Greece, and the rise in the popularity of city breaks are highlighted by Bank of Greece data on travelers and their expenditure in the first quarter of the year. Although the number of visitors and travel receipts increased considerably, the Attica hoteliers' association reported a decline in occupancy and revenues in Q1.
Given that the January-March period does not draw sea-and-sun-seekers, and that winter tourism showed little change from previous years, it can be deduced that the increased number of arrivals were in Greece for city breaks, and a large portion of those visitors stayed at properties leased through online platforms such as Airbnb and HomeAway.
At the same time there was particularly strong growth in visitors from the US and their spending in Greece: In the first...