What the Financials of Major Hotel Chains Reveal About Greek Tourism

The situation is quite different in Greece, where Hilton is recording rapid expansion. With the addition of the new Conrad Athens The Ilisian in Athens and the ÉRA Hotel Heraklion in Crete—both scheduled to open in early 2026—the group will reach a total of 50 hotels in the country, making it the leading player among international branded hotel chains.

The inclusion of Small Luxury Hotels of the World™ (SLH) in Hilton’s portfolio in 2024 significantly boosted its presence in Greece. Of the 50 total hotels, 36 carry the SLH brand, while further investments are underway in Athens and the Ionian Islands.

Marriott: New Investment in Crete, Global Resilience – Slowdown in North America
Marriott International exceeded forecasts for the second quarter of 2025, but revised its full-year RevPAR growth expectations to a range of +1.5% to +2.5%, due to declining demand in the United States and Canada. In contrast, international performance remains strong: RevPAR increased by 5% in Europe, the Middle East, and Africa, and 9% in Asia-Pacific.

Crete is one of the group’s strategic new additions, with the opening of the JW Marriott Crete Resort and Spa, highlighting Greece's attractiveness as a luxury hospitality destination. In total, during Q2, Marriott added 17,300 new rooms, with more than 8,500 located in international markets. The global pipeline now includes 3,858 hotels (590,000 rooms).

CEO Tony Capuano emphasized:

“We achieved strong international growth. Conversions and new midscale brands are attracting owners, and deal activity exceeded all expectations compared to last year.”

Marriott is strategically investing in new brands, such as Series by Marriott, and is expanding its luxury portfolio, with 270 new luxury units in its development plan.

Accor: Seven New Hotels in Greece and a Premium Repositioning
Accor, with a strong international presence across 5,740 hotels and nearly 855,000 rooms, reported a 5.1% increase in revenue and a 13.4% increase in recurring EBITDA at constant exchange rates for the first half of 2025. RevPAR rose 4.6%, with the best performance coming from Luxury & Lifestyle brands (+7%), and signs of strong demand from Asia, Europe, and Latin America.

Greece is one of the group’s core development markets, with at least seven new hotels planned over the next three years. According to Maud Bailly, CEO of Sofitel, MGallery, and Emblems, the investment strategy includes projects in Athens, Chania, Parnassos, and various islands.

Projects include:

MGallery Chania, a 220-room urban resort in a former soap factory, targeted for 2026.

Elatos Resort in Parnassos, to operate under the luxury lifestyle brand Emblems, with an investment exceeding 30 million euros from Lampsa S.A.

Ongoing discussions for additional Emblems properties and a new Sofitel resort on a Greek island.

Accor already operates 11 hotels in Greece, and the success of MGallery in Athens is evident, with an 82% occupancy rate—the highest in the brand’s global network. Greek travelers represent 37% of the company's revenue in Greece (+29% compared to 2023), while Americans come second at 11%.

What Does All This Mean for Greek Tourism?
The financial results of these three hotel giants reveal several key trends:

Greece is solidifying its status as a premium destination: Major openings and luxury investments are reinforcing the country's position on the global luxury tourism map.

Greece’s tourism brand is strengthening: With new hotels from Hilton, JW Marriott, and Accor, the country is attracting the attention of top international players.

Quality is taking precedence over quantity: A shift toward more sustainable, experience-driven, and aesthetically refined hotels is enhancing the diversity of tourism offerings.

Major hotel chains are investing in Greece: In a global environment of uncertainty, the investments in Athens, Chania, Parnassos, Crete, and the Ionian Islands serve as a vote of confidence.

The international hotel industry is evolving rapidly, and Greece is now at the center of these developments. The challenge is to leverage this momentum through long-term strategic planning, a strong local identity, and high standards of quality.