AirDNA: Greek short-term rental RevPAR rose 11.9% this summer
Greece posted one of Europe's highest short-term rental revenue gains this summer, driven by higher rates and stable occupancy, according to AirDNA.
According to AirDNA's monthly review, the Greek short-term rental market saw RevPAR rise 11.9% this summer to €138, compared with a 5.5% average increase across Europe. The gain was driven by an 11.8% rise in average daily rate (ADR) to €195, while occupancy stayed nearly flat at 70.9%.
Greece and Albania were the only two of the 20 largest European markets that did not see occupancy decline over the summer. In August, Greek ADR rose 10.9% to €202 and RevPAR rose 11.0% to €152, with occupancy remaining stable.
Across Europe, RevPAR rose 4.3% in August to €113, with ADR at €160 (+7.5%) and occupancy down 2.1 percentage points. All 20 largest markets recorded ADR growth, but only Greece and Albania avoided an occupancy drop.
For autumn, booked nights in Greece for September-December show a -0.6% change versus last year, compared with a 2.3% increase across Europe as a whole.