During this period and despite any restrictions imposed by the State, the figures for short-term rentals in Greece are constantly climbing, with the number of beds available in the context of the sharing economy exceeding in two regions the corresponding number of hotel beds.
All over the country
Nationwide, the number of beds in Airbnb-style accommodations is approaching that of hotel beds, following a constant upward trend. In more detail, according to the data of the Institute of Tourism Research and Forecasts for 2023, the beds in Airbnb number 703 thousand, while those in hotels, based on the data of the Hotel Chamber of Greece, reach 887 thousand.
In fact, in the Region of Attica and the Region of Thessaly, the number of Airbnb beds exceeds that of hotels.
Attica
As far as the Region of Attica is concerned, Airbnb beds amount to 137 thousand, while those in hotels are 67 thousand. In more detail, in 2023 the number of hotel beds in Attica reached 67 thousand, from 58 thousand in 2014, with the corresponding number of sharing economy beds reaching 137 thousand in 2023, from 16 thousand in 2014, marking a huge increase .
It is recalled that, according to the findings of the research “Sharing Economy: Basic Trends, Socio-Economic Impacts & Regulatory Interventions”, prepared by Grant Thornton on behalf of the Hellenic Chamber of Hotels (ΕΕΕ), the picture recorded in Athens is similar. In particular, the number of hotel beds in 2023 was almost 35 thousand and was increased by approximately 16% compared to 2019. At the same time, the number of beds available for short-term rentals exceeded 63 thousand and was more than double compared to the 29 thousand of 2019.
Thessaly
As for the Region of Thessaly, based on ITEP data, the number of beds in short-term rental accommodation amounts to 31 thousand, with hotel beds reaching 28 thousand.
And it may be that in the South Aegean Region the number of hotel beds is twice what is offered in terms of the sharing economy, but the number of Airbnb beds has registered a huge increase, especially in relation to the development of hotels.
So, as it turns out, the growth rate of Airbnb in the South Aegean Region in general is impressive. It is indicative that the beds in Airbnb accommodation increased from 2014 to 2023 by 1,688% (133 thousand) against 21% of hotel beds (236 thousand). This means that Airbnb capacity grew at an average annual rate of 33%, compared to 2% of hotel capacity.
Within breathing distance
In the rest of the regions of the country, the number of Airbnb beds does not exceed the corresponding number of beds in hotels, however, in some of them, the beds of short-term rentals come within a breathing distance of those of hotel units.
For example, in Central Macedonia Airbnb beds number 85 thousand, while those in hotels reach 92 thousand. Accordingly, in Eastern Macedonia-Thrace, Airbnb beds exceed 20 thousand, with the corresponding hotel beds amounting to 22 thousand.
It is noted that since a short-term rental accommodation can appear on both platforms under consideration, Airbnb and Vrbo, only the number of accommodation available on the Airbnb platform was calculated by ITEP. In other words, these accommodations do not include those that are on short-term lease but posted on other platforms, such as booking, etc.
Chaotic differences in individual destinations
Based on the data of ITEP, however, in terms of the individual island destinations of the Aegean, Mykonos, Paros, Naxos, Andros, Kalymnos, Kea, Milos, Syros and Tinos now count more beds in short-term rentals compared to the corresponding number of hotel beds . In fact, in some destinations the number of Airbnb beds is even 7 times greater than that of hotel beds.
For example, in the Regional Unit of Tzias-Kythnos, the hotel beds amount to only 817, when the corresponding beds for short-term leases exceed 5.9 thousand.
The development of Airbnb is also rapid in Milos, where the number of Airbnb-type beds is over 8.5 thousand and is five times the number of hotel beds, which reaches 1,757.
And in Mykonos, the beds of Airbnb accommodations in 2023 exceeded those of hotels. In particular, the number of beds in sharing economy accommodation rose to over 22 thousand, when the corresponding number in hotels reached 16.5 thousand.
In Santorini, although the number of beds in Airbnb accommodation is smaller than that in hotels, the growth rate of the short-term rental market is moving at high levels. In 2023 the number of Airbnb beds in Santorini reached almost 11 thousand, significantly increased compared to 2015, when the corresponding number was only 106.
High prices and occupancy rates
However, in terms of prices, in the summer Greece was in the top 5 of the European countries that recorded the highest revenue per available room, with an occupancy rate of over 70% and an average price per night over 200 euros. Specifically, based on AriDNA’s available data, Greece was in 4th place and recorded 70% occupancy in the June-August quarter, with the average price per night standing at 214 euros and slightly lower than the average price in hotels, which in August reached 187 euros. Accordingly, the revenue per available Airbnb type accommodation – a size that is a function of occupancy and average price – amounted to 150 euros
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