High returns for Greek hotels

• 21 July, 25

Greece continues to be a top destination for investment in tourism properties, and hotels in particular, as it shows among the highest returns in Europe.

It has the second highest average revenue per room after Italy, leaving behind large developed markets such as Spain and France. This is evident from the latest report by MKG Consulting, which confirms a survey among large foreign investors by the US multinational real estate firm CBRE Group.

That explains the significant investments made by both Greek and foreign investors either in hotel renovations and upgrades or in the development of brand-new hotel properties. Based on data from May this year, Greece recorded a 14.9% increase in revenue per available room (RevPAR): The average revenue per available room in Greek hotels in May 2025 amounted to 154.70 euros compared to €134.70 in the same month last year.

Based on that amount, Greece ranks second among the 16 most profitable hotel markets in Europe after Italy, where the average revenue per available room amounted to €162 from €154.30 last year. Switzerland (€141), the Netherlands (€140), Portugal (€134.50) and Spain (€129.50) follow.

RevPAR is one of the most important performance indicators for hotels. It is calculated with the revenue from room sales and not with other sources of income, such as catering services or wellness services.

In terms of occupancy, Greece also performs particularly well: It recorded the largest increase (+9.8%) in the hotel occupancy rate among all 16 European countries recorded in the survey by MKG Consulting. However, the average daily room rates (ADR) of Greek hotels, according to the consulting company, remained at similar levels to the corresponding period last year, even recording a marginal drop of -0.3%.

This picture concerns all of Greece, since hotels in Athens have recorded a significant increase in prices. For Athens, CBRE Group noted earlier this year that “the steady increase in international travel demand to Athens will further strengthen its appeal as an emerging investment destination.”

Cre: ekathimerini