Another bad year for the Greek hotel sector in 2003, according to the newly released Hotel Study 2004 by JBR Hellas. The main reason can be found in the drop in the revenue per available room (RevPAR) by 15% in comparison with 2002 or 30% when comparing the results with 2001. As a consequence the Gross Operating Profit (GOP) has reached an alarmingly low level of between 10 - 15% with the exception of category B hotels as they are reaching a level of around 30%.

The following graph refers to a selected sample of hotels participating in 2 consecutive hotel studies and summarises clearly the situation, covering hotels of all categories.

Source: Hotel Study 2004, JBR Hellas

This picture is also confirmed by the fall of the main profitability index GOPPAR (GOP per available room) by 40% in comparison with 2002 or 60% in comparison with 2001. The Hotel Study 2004 presents in more than 50 pages market, operational and financial data for the following specific categories as well as for all hotels:

• Luxury
• A Class
• B Class
• City Hotels, De Luxe and A Class
• Resort Hotels, De Luxe and AClass

The Hotel Study 2004 was carried out by JBR Hellas under auspices of SETE, with the support of Travel Daily News. For more information please contact Dr. Aris Ikkos.

In order to receive the full results of the study, you need a username and a password, which is handed out to those hotels that have participated in the study. If you would like to receive your own copy, complete and send us the questionnaire in pdf or word format.

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