As a holiday rental property manager, it's crucial to stay informed about market trends. Athens’ short-term rental market is an emerging market with an increasing supply that is making the market more competitive.
To optimize bookings and occupancy rates in this market, it's important to have access to the latest short-term rental data. In our latest MarketMinute, we'll provide insights into the Athens short-term rental market.
Looking for actionable data about your market? We've got you covered!
Average Occupancy: 66%
The average occupancy in Athens stands at 66%, surpassing the national average of 60%.
Athens is attractive for short-term rentals due to this attractiveness. Athens has rich historical and cultural treasures, exquisite gastronomy, and a vibrant atmosphere. The city offers a blend of modern delights and ancient wonders, making it a compelling choice for travelers. From beautiful beaches and great restaurants serving amazing Greek cuisine to the presence of ancient temples and amphitheaters juxtaposed with bustling streets, Athens presents a unique and immersive experience. Furthermore, the city's evolution as a top city break destination has contributed to its appeal, offering rewarding stopovers for visitors to the Greek islands and establishing itself as a must-visit location for history, culture, food, nightlife, and the warmth of its people.
Average RevPAN: 43€
The average RevPAN (revenue per available night) for holiday rentals in Greece is 83€. It's noteworthy that RevPAN provides a more precise depiction of revenue management performance compared to other metrics and is the most effective measure for assessing the overall success of your revenue management strategy.
Booking Lead Time: 48 Days
Guests tend to book 20 days later in advance compared to the rest of Greece. Adapting your revenue strategies to the guest's preferences is key. To optimize revenue and bookings, it is recommended to focus on revenue strategies between 40-50 days before the stay.
Top Distribution Channel: Airbnb
In Athens Airbnb and Booking.com are the top booking channels.
Average Number of Reviews per Listing: 37
On average, vacation rental guests in your market tend to be more reviewers compared to the average reviewer in Greece. Care your guest' experiences and encourage them to share their feedback to have better visibility in the OTA’s and stay ahead of the competition in your market.
Average Length of Stay: 4 Days
In Athens the visitors stay less time than in the rest of Greece. The average length of stay is 4 days, which is less than the national average of 5. Property managers should focus on creating an exceptional guest experience and ensure that any minimum stay requirements match up for max bookings.
In summary, the short-term rental industry in Athens offers significant potential for growth and success. Property managers must stay updated on market trends and implement proactive pricing strategies to capitalize on this market. Creating a memorable guest experience is essential for success.
Start increasing your revenue today!
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