Report: Prices up to €40,000 for 5 nights in Greek 5-star hotels during August

Α Decrease font Enlarge font
Report: Prices up to €40,000 for 5 nights in Greek 5-star hotels during AugustHigh demand from the beginning of the season has limited the availability of luxury beds early this year

Prices in the few rooms that are available in luxury hotel units in Greece are expected to peak during the next few days.

According to a survey conducted by Greek daily "Kathimerini", occupancy in 5 star hotels in several popular Greek destinations for the period around the 15th of August has reached 100%.

High demand from the beginning of the season has limited the availability of luxury beds early this year, especially in destinations that attract high-income tourists.

One of the largest travel booking agencies estimates that during the period from 11th to 16th of August, the average occupancy of luxury hotels in Santorini, Corfu and Rhodes will reach 99%.

In the 5-star hotels of Mykonos the average occupancy reaches 97% and in Elounda 89%. At the same time, the prices of the remaining rooms and suites in the luxury units of the above areas are very high. Indicatively, the price in a 5-star hotel room in Santorini for 5 nights from August 11th to August 16th can reach up to 40,000 euros. In Corfu, hotel prices rise up to 15,244 euros, in Mykonos up to 11,647 euros, in Elounda up to 7,640 euros and in Rhodes up to 6,200 euros.

According to the latest figures from the Greek Chamber of Commerce, Greece boasts 444 5-star hotels out of a total of 9,730 units. Capacity of 5-star hotels amounts to 67,407 rooms with 137,210 beds while 407,146 rooms with 788,553 beds operate in all hotel categories.

At regional level, most five-star hotels operate in the southern Aegean. In total, in the southern Aegean islands, there are 144 5-star hotel units, with a capacity of 19,715 rooms, with 40,742 beds. Crete is followed by 97 five-star hotels with a capacity of 18,844 rooms and 40,742 beds.

However, based on the results of a study conducted by National Bank for the hotel industry, the share of high-income tourists has fallen in Greece from 27% in 2008 to 23% in 2016.

According to the study, the improvement of the tourist income levels depends on the quality of services offered by hotels, with 5-star units attracting 52% of high-income visitors versus 6% of hotels with few stars.

Also, the study notes that the quality of hotels is not enough to combat the high seasonality of Greek tourism.

This is because the seasonal variations between 5-star hotels and those with less than 2 stars are extremely small, with almost half of the revenue coming from two months of high demand in both cases.

It is also noteworthy that the average European spends 15% less money in Greece than in competitive destinations and 34% less than all international destinations.

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinations Greek travel marketGreek tourism statisticsGreek tourism report

Photo Source: Wikimedia Commons Copyright: Michael W. Pendergrass License: CC-BY-SA

 

Tornos
  1. 20/10 16:09

    Religious tourism: Òssios Loukás best preserved monastery in Greece

  2. 20/10 16:06

    Opposition head discusses needed reforms in Greece with European Commissioners

  3. 20/10 15:59

    Greek Reporter: Guide on the wines of Crete

  4. 20/10 15:56

    Cosmote rapidly expands its fibre optics network across Greece

  5. 20/10 15:45

    Presentation of Attica as tourist destination for the Scandinavian market

  6. 20/10 14:28

    Sundair charter flights from Germany to Halkidiki

  7. 20/10 13:55

    50,000 winter tourists in Crete

  8. 20/10 13:43

    8-year-old’s message in bottle out to sea discovered 29 years later

  9. 20/10 13:34

    Trapped wildcat released back into the wild on Crete island

  10. 20/10 13:19

    Greek President Pavlopoulos visits island of Samothrace

  11. 20/10 11:23

    Travel report: Best traditional destinations in Chania of Crete

  12. 19/10 18:09

    Prime Minister thanks Greek-American community for its warm welcome

  13. 19/10 18:02

    Two Greek researchers earn L'Oreal-Unesco 'Women in Science' Scholarships

  14. 19/10 17:48

    First Cyprus, Greece and Armenia meeting on diaspora issues on Friday in Nicosia

  15. 19/10 17:44

    Air Berlin pilots suspended after “dignified goodbye” with fly-by (video)

  16. 19/10 17:39

    European Union: Directives don’t apply to Parthenon Marbles return after Brexit

  17. 19/10 17:35

    Grivalia completed acquisition of 48.500 m2 portfolio of 16 assets

  18. 19/10 17:31

    Two beaches in Piraiki coast delivered to the public after cleaning

  19. 19/10 17:24

    Olympic Brewery continues investment program in Greece

  20. 19/10 17:13

    Ancient Greek grains pave way for nutritious and healthy modern lifestyle

  21. 19/10 16:29

    Mediterranean Resort & Hotel Real Estate Forum 2018 to be hosted by Athens

  22. 19/10 16:19

    Visit Greece: The small gems of Argosaronic Gulf islands

  23. 19/10 15:40

    Santorini island excavation unearths Bronze Age settlement

  24. 19/10 15:34

    HELINA: 'Guardian' article on Epidaurus failed to cross-check the science

  25. 19/10 15:02

    Hellenic American Union's conference on 'The Quest for Reforms' in Greece

  26. 19/10 14:57

    Survey: 4 out of 10 Greeks spend 40% of income on housing

  27. 19/10 14:54

    ELSTAT: 1.4% rise in Greek merchant fleet for August

  28. 19/10 14:48

    Greek language taught in Australian preschools

  29. 19/10 14:43

    Intelen CEO: First Greek 'smart' battery for homes ready to hit the stores

  30. 19/10 13:37

    Athens University opens the doors to its research labs on October 20-21

  31. 19/10 12:38

    Visit Nafplio, the wonderful first capital of Greece

  32. 19/10 10:32

    Pavlopoulos and Stournaras briefed on online platform for investors

  33. 18/10 23:48

    40 bloggers present their travel experiences in Greece

  34. 18/10 23:45

    New case of a privatization project stuck in Greece's logjam

  35. 18/10 23:42

    Greek Marinas Association wins bid to host ICOMIA World Marinas Conference in 2018

  36. 18/10 23:33

    Swedish tourism: Crete and Rhodes most popular destinations for Apollo in 2017

  37. 18/10 23:08

    Top-10 hotels in Greece at Conde Nast Traveler's Readers' Choice Awards 2017

  38. 18/10 22:51

    Large fish-shaped fossil discovered at Samaria Gorge on Crete island in Greece

  39. 18/10 22:46

    Intrakat firm leases historic Athens building for boutique hotel

  40. 18/10 22:37

    Sources: US Congress recognizes Greece's importance for American interests

  41. 18/10 22:27

    Report: Following the trail of Egyptian connections in Athens

  42. 18/10 21:50

    Nine Greeks on the Forbes 400 Wealthiest People in America list

  43. 18/10 21:41

    2017 to mark a new historic high in tourist arrivals to Cyprus

  44. 18/10 21:23

    US President Trump: We have great confidence in Greece

  45. 18/10 17:33

    58th Thessaloniki International Film Festival between 2-12 November

  46. 18/10 17:20

    US VP Pence reiterates support for credible debt relief for Greece

  47. 18/10 15:03

    Large travel organisations reps visit Messolongi area in Western Greece

  48. 18/10 11:38

    Greek astronomer discovers rare cigar-shaped galaxies (video)

  49. 17/10 16:14

    Greek Tourism Confederation’s head Yiannis Retsos: SETE alongside local communities

  50. 17/10 16:02

    Greek state to sell 30% stake in Athens airport holding company

  51. 17/10 15:57

    Greek banks accelerate actions against strategic bad debtors

  52. 17/10 15:51

    Impressive “Jews of Greece’’ exhibition opens in Sydney, Australia

  53. 17/10 15:42

    Greek yogurt conquers India with Epigamia brand (video)

  54. 17/10 15:38

    Tender winner has tabled required paperwork for Thessaloniki port sale

  55. 17/10 15:30

    Top rafting destinations across Greece

  56. 17/10 15:26

    Greek opposition leader congratulates Austria's Kurz for election win

  57. 17/10 15:12

    Negotiations over sale of Syros island shipyard in the end of October

  58. 17/10 15:02

    Interview: First Paleontology Museum and Natural History Park in Peloponnese

  59. 17/10 11:45

    Smart cards now used across Athens metro and trains networks

  60. 17/10 11:41

    National Opera opening at Stavros Niarchos Foundation Cultural Center in Athens

  61. 17/10 11:35

    Passenger traffic in Greek airports up 9.4% during January - September 2017

  62. 17/10 11:31

    Wizz Air launches eight new routes from Athens in 2018

  63. 17/10 11:25

    Record participation in the 3rd “Santorini Experience” event

  64. 17/10 11:20

    Carla Bruni launches world tour in Athens on October 23-24

  65. 17/10 11:17

    Big taxes and high costs drive Greek professionals to Cyprus

  66. 17/10 11:13

    Memo of cooperation with European organisation to promote religious tourism

  67. 17/10 11:10

    Work on Israel-Cyprus-Greece electricity link to begin in 2018

  68. 17/10 11:03

    Greek Prime Minister to meet United States President at 19.00

  69. 17/10 10:27

    Lufthansa's takeover of Air Berlin fuels competition concerns

  70. 16/10 18:39

    Costa Navarino wins ‘Europe’s Responsible Tourism Award 2017’

  71. 16/10 18:30

    Archaeologists: Ancient Greek Roman City of Phaselis slowly submerging

  72. 16/10 17:19

    Hellas Gold withdraws from first Halkidiki Development Conference

  73. 16/10 16:19

    TAIPED receives proposals for historic edifice on Corfu island

  74. 16/10 15:18

    First Greek Prime Minister to visit National Hellenic Museum in Chicago

  75. 16/10 14:26

    Sharp rise in direct Greek hotel online bookings in 2017

  76. 16/10 13:40

    World's scientists puzzled by giant mystery hole in Antarctica

  77. 16/10 13:28

    Report: First Greek electric vehicle Ecocar hits the road

  78. 16/10 11:24

    Adjusting objective values is proving a tough nut to crack in Greece

  79. 15/10 14:41

    Fraport Greece reveals modernization plan for critical Santorini airport

  80. 15/10 14:38

    US Ambassador to Greece Pyatt: Tsipras' visit to USA will be a success

  81. 15/10 14:33

    Eco-festival with pink flamingos in Kalochori lagoon in northern Greece

  82. 15/10 14:27

    Impressive science-fiction exhibition opens in Athens Onassis Cultural Center

  83. 15/10 14:23

    How to avoid long lines for transport e-cards in Athens metro and buses

  84. 15/10 14:19

    Greek Deputy FM for Diaspora meets with community leader in New York

  85. 15/10 14:16

    Greece honored country at Summer Fancy Food Show in New York

  86. 15/10 14:13

    Acropolis Museum show on Eleusinian Mysteries “Sacred Way” in December

  87. 15/10 14:08

    Annual historic rally of Greece kicks off in Larissa

  88. 15/10 14:06

    Two former Greek Tourism officials escape jail over bribes

  89. 15/10 13:33

    Greek church in Rhodes' Lindos bans foreign weddings after "lewd act"

  90. 15/10 11:59

    Nostos 2017: Greek alternative tourism meets global market in Nafpaktos

  91. 15/10 10:15

    Greek Economy Minister meets with US Secretary of Commerce

  92. 13/10 16:40

    Cash prizes for lucky cardholders across Greece

  93. 13/10 16:37

    US Ambassador: Greece is a pillar of stability in the region

  94. 13/10 16:31

    Greek government and banks to exclude property under €300K from e-auctions

  95. 13/10 16:16

    Telegraph: Athens is the ideal city for an autumn break

  96. 13/10 16:12

    Top distinctions earned by the National Theatre of Greece in Russia

  97. 13/10 16:07

    Attiki Odos' exit 8 to close from Saturday 23:00 till Sunday 08:00

  98. 13/10 15:42

    Study: New regional spatial planning framework in Greece already outdated

  99. 13/10 15:32

    Tourism: Turkey's ban on own ships sailing to the Greek islands lifted

  100. 13/10 15:27

    Germany renews border checks with Greece and Austria