Another bad year
for the Greek hotel sector in 2003, according
to the newly released Hotel Study 2004 by GBR Consulting. The main reason can be found in the
drop in the revenue per available room (RevPAR)
by 15% in comparison with 2002 or 30% when comparing
the results with 2001. As a consequence the
Gross Operating Profit (GOP) has reached an
alarmingly low level of between 10 - 15% with
the exception of category B hotels as they are
reaching a level of around 30%.
The following graph refers to
a selected sample of hotels participating in
2 consecutive hotel studies and summarises clearly
the situation, covering hotels of all categories.
Source: Hotel Study 2004, GBR Consulting
This
picture is also confirmed by the fall of the
main profitability index GOPPAR (GOP per available
room) by 40% in comparison with 2002 or 60%
in comparison with 2001. The Hotel Study 2004
presents in more than 50 pages market, operational
and financial data for the following specific
categories as well as for all hotels:
- Luxury
- A Class
- B Class
- City Hotels,
De Luxe and A Class
- Resort Hotels,
De Luxe and AClass
The Hotel Study was conducted under the auspices of
Sete and the support of Traveldailynews.
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