ITEP-Hotels: Revenues rise but profits fall behind

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ITEP-Hotels: Revenues rise but profits fall behindIn order for hotels to remain competitive, they are forced to keep their prices down, the study points out

Seasonality of Greek tourism remains high, since during the June-September period both in 2016 and 2017, 70% of arrivals and almost 80% of overnight stays took place.

Five Regions of Greece (Attica , Crete, South Aegean, Central Macedonia and Ionian Islands) attract more than 85% of tourist visitors to the country.

These are the main findings of the annual study carried out by the Institute for Tourism Research and Forecasts (ITEP) entitled "Developments in the basic sizes of the Greek hotel", which was presented on Friday at the general assembly of the Hellenic Chamber of Hotels.

As recorded in the study, the average size of the Greek hotel has remained stable for years and ranges around 42 rooms.

In 2017, an increase of 11.3% was recorded in the average revenue per room based on the category of the hotel compared to 2016.

As the study notes, the nominal increase observed in gross average revenue per room is not accompanied by an increase in corresponding net income, as the hotel product is overburdened by direct and indirect taxation.

Therefore, in order for hotels to remain competitive, they are forced to keep their prices down, the study points out.

According to the study, foreign travelers account for 85 percent of overnight stays, an indication of the pressure exerted on hotels that rely on domestic tourism.

Finally, it is remarkable that during the 2012-2017 period, 498 new hotels were opened with a total capacity of 17,153 rooms, while 427 units with a total capacity of 11,715 rooms were shut down.

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

 

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