Updated : Feb 9, 2025
Key Takeaways
- The data showcases the performance of Greek short-term vacation rentals from August 2023 to August 2024, with insights specific to month-on-month ADR, RevPAR, Occupancy rates, average bookings, and active listings.
- There was a continuous decrease in the Average Daily Rate (ADR) from 207€ in August 2023 to 117€ by January 2024, followed by a steady increase back to 170€ by August 2024. Similarly, RevPAR also decreased from 141€ to 26€, then climbed back to 107€.
- Occupancy rates experienced a similar trend, with highs during summer and lows in winter. August 2023 saw the highest occupancy at 71%, which fell to 24% in January before rising to 63% in August 2024.
- However, the count of active listings consistently rose from 157805 in August 2023 to 173184 in August 2024, regardless of season.
- Interestingly, average bookings dropped to 0 in August 2024 despite a relatively high ADR, RevPAR, and occupancy rate.
- This could imply certain factors affecting user bookings even during popular travel times. Regular monitoring of these key indicators can empower stakeholders to strategize for improved performance.
ADR Summary
The average daily rate (ADR) in Greece, represented in EUR, showed a general declining trend from August 2023 (207€) to February 2024 (116€). It gradually decreased from August 2023 to December 2023, plateauing at approximately 122€ for a couple of months before declining slightly further in January 2024.
However, from February 2024 onwards, there was a steady increase in ADR through to July 2024 (184€), indicating a potential seasonal trend of higher rates in the summer months as compared to the winter months. Interestingly, the ADR slightly dropped to 170€ in August 2024, despite still being in the summer period.
Overall, the ADR showed potential seasonal fluctuations with higher rates in the summer (June-August) and lower rates in the winter (November-January), although more data would be needed to confirm this pattern.
RevPAR Summary
The Revenue per Available Room (RevPAR) for Greece over the given period displayed a seasonal trend. In August 2023, the RevPAR was 141€, peaking for the summer season. It then entered a downward trend, falling to 84€ in September, 49€ in October, and reaching its lowest point in December at 31€. From January 2024, a gradual resurgence started, reaching 26€ in January, 28€ in February, 36€ in March, 50€ in April and 62€ in May. The summer season of 2024 saw a steep upward trend, with RevPAR reaching 85€ in June, 113€ in July, and then slightly dropping to 107€ in August. The trend implies that Greece’s RevPAR is higher in the summer months, possibly due to increased tourism during this season and decreases in the off-peak months.
Read here: How to Calculate RevPAR.
Occupancy Rate Summary
The data provided seems to display occupancy trends in Greece from August 2023 to August 2024. In general, a distinct seasonal trend is observed.
Starting in August 2023, the occupancy rate peaked at 71%. From there it steadily declined month-on-month until reaching its lowest in January 2024 at 24%. This trend indicates a lower demand for accommodation during the late fall and winter months (October to January).
However, starting from February 2024, the occupancy rate gradually begins to rise again. By March, the rate increased to 32%, and it continued this upward trend into the spring and summer months, reaching 40% in April, 44% in May, and further jumping to 53% in June 2024.
The highest rates were observed again in the summer, with occupancy hitting 64% and 63% for July and August 2024, respectively. These trends suggest that the demand for accommodation in Greece is highly seasonal, with more demand during the summer months and less during the winter months.
Read here: How to Calculate Occupancy Rate.
Avg. Bookings Summary
The average bookings in Greece have shown a general upward trend from August 2023 to May 2024 based on the given data. It started at 2.2 in August 2023, decreased slightly to 1.8 in September 2023, and then further dropped to 1.5 in October and November 2023. The subsequent months saw a gradual increase in the average bookings count: from 1.2 in December 2023 to 2 in January 2024, 2.2 in February 2024, and continuing to rise until it reached its peak at 3.1 in May 2024.
However, from June 2024 onwards, there was a decline, with the average bookings dropping to 2.9 in June, slightly declining to 2.8 in July, and then dramatically dropping to 0 in August 2024.
This trend suggests that there may be a seasonal pattern to booking behavior in Greece, with the highest bookings observed in spring (around May), and the lowest in late summer (August).
Count of Active Listings Summary
The count of active listings in Greece shows a general trend of occasional ups and downs from August 2023 to August 2024. The count started at 157,805 in August 2023 and initially saw a minor decrease by September 2023, landing at 157,663. In the following months, a significant downward trend prevailed, bringing the number to its lowest at 150,768 in December 2023. After a slight increase in January 2024 to 152,226, it dipped again slightly in February 2024 to 150,938. Since March 2024, there was a remarkable rising trend, which peaked in August 2024 at 173,184 active listings. So, over the course of these thirteen months, despite some fluctuations in between, the overall trend in active listings was increasing in Greece.
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About Short-term Rental Index
The World STR (Short-term Rental) Index by PriceLabs is a free tool for tracking short-term rental market performance worldwide. It offers data from Airbnb markets worldwide, refreshed monthly. You can access free insights on which locations are gaining or losing popularity. Key features include:
– Compare: Compare year-over-year metrics like active listings, occupancy rates, RevPAR, and ADR.
– Trend: Visualize how metrics have changed over the past years.
– Pacing: Compare upcoming year metrics to the previous year for occupancy, ADR, and RevPAR.
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