Is 2019 a bad year for Greek Tourism?

Last year at ITB Berlin I could only notice relaxed and smiley faces in the Greek stand. Early Booking results were in, and it was probably one of the most successful Februaries for bookings. What happened next? Why did this euphoria become a Greek tragedy at the end of the season with lower than expected ADRs and Occupancies?

Was it the return of Turkey and Egypt as a preferred family destination? Was it that Greece was so “hot” in 2017 that guest needed to share a different experience for 2018 in the social profile. At the end of the day probably it was bound to happen as many forget that like any industry, Tourism has cycles, and 2017 was the peak. So 2018 caught us off guard, like a Trojan horse, but what if we haven’t seen the end of it?

The first results of 2019 are low compared to the overachieving 2018, but at the same time regular as the demand is back on its standard rate, the rooms available have increased (the 5star segment has added over 200 hotels in the past 8 years) and as a result, this oversupply will push rates down to previous year levels. Families will tend to travel to cheaper destinations, so July & August might take a more significant hit.

The solution is Marketing & Distribution (M&D) as my consultant for almost ten years now, Mr. Andreas Birner always says. M&D will ensure traffic and brand awareness, get you through the storm and on your feet for the next peak. The idea is simple, spend your Marketing Budget on channels that work and lower your price with special offers. It’s simple and effective.

Patience is the key to success.

PS. The Athens Market is on its way to the peak soon so I would invest my money back to the property, as I am doing in Piraeus with the Alex.