The hotel sector is particularly significant for the growth of national economy and is undoubtedly the "pillar" of Greek tourism.
Due to Covid-19 pandemic, tourist arrivals in Greece in 2020 registered a fall of 76.5% while in 2021 they recovered as they doubled compared to 2020.
After the 75.7% decline in the overall market size (in value) of hotel businesses (Luxury, A' and B' category) in 2020 compared to 2019, as a result of the coronavirus pandemic, recovery appears in 2021 where the market size reached approximately 73% of the respective 2019 size.
Foreign tourists are the main customers of Greek hotels as their room nights accounted for approximately 70% of the overall room nights in 2021.
During the same year 10,098 hotels operated around Greece of a total capacity of 879,255 beds. 5* hotels accounted for 23.2% of total beds in 2021, while 4* hotels accounted for 28.5%.
The domestic market size (in value) of Luxury hotels is estimated to have reached about 71% of the respective size of 2019. The market size of A’ category hotels was slightly higher (approximately 75%of 2019) while the market size of B’ category hotels accounted for approximately 71% of 2019 size in 2021.
As regards the market breakdown per category, A’ category hotels accounted for 45.3% of the total market in 2021, followed by Luxury hotels with 37.3% and B’ category hotels with 17.4%.