Greek Accommodation Businesses Report High Q1 Revenue – Rhodes Sees Biggest Rise

Rhodes Island. Image source: TUI

The upcoming opening of the summer tourist season and pent-up travel demand have boosted demand for lodging and food and drinks services in the first quarter (Q1) of the year, the Hellenic Statistical Authority (ELSTAT) said this week.

Specifically, according to the latest ELSTAT report, Greek hosting service providers saw their turnover increase by 204.9% to 283,075,798 euros in Q1 2022 against 92,855,293 euros in the same period last year, while companies active in catering recorded an increase of 120.9% in the first quarter to 1,117,240,187 euros against 505,773,774 euros in the same period in 2021.

Leading the hospitality business was the regional unit Rhodes, marking the largest overall increase in first quarter revenue compared to the first quarter of 2021, up 560.1%. The smallest increase – at 66.7% – was recorded in the regional unit of Kos.

The regional unit of Thira (Santorini) was the best performer in the F&B services segment in the first quarter of 2022, which recorded the highest increase of 350.2% in the first quarter compared to the same period last year.

The smallest increase – 86.1% – was recorded in the regional unit of Heraklion, Crete.

Watch march data, companies offering accommodation services with double-entry accounting saw their turnover for the month increase by 240.7% to 91,897,549 euros compared to March 2021 and 26,969,308 euros.

F&B companies oobligated to the double-entry accounting saw The turnover for March 2022 amounts to 123,882,427 euros, registering an increase of 115.2% compared to the same month in 2021 and 57,555,388 euros.

Overall, for accommodation and food service providers required to keep double-entry bookkeeping, total March revenue was €215,779,976, marking a 155.3% increase from to March 2021, at €84,524,696.

For March, The leader in both segments was the regional unit of Zakynthos, showing the highest increase in revenue of 435.8%, the lowest being recorded in Heraklion at 120.9%.


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