Greek Market Report

Hotel Investments 2024 – 2027

In the ever-evolving landscape of Greek hospitality, the necessity for clarity and comprehensive understanding has never been more paramount. As the tourism industry continues its upward trend, it beckons stakeholders to pause and consider the broader context.  

words by Kostas Panagakis | released on February 26th, 2024

The primary objective of this report is to amalgamate into a single comprehensive document the perspectives and insights from global hotel brands & leading domestic hospitality players and to seamlessly integrate these expert views with all publicly accessible information regarding new hotel investments in Greece. Through this endeavor, the report aspires to provide a holistic overview of the current landscape and prospects of the hospitality sector, offering stakeholders a unified resource for informed decision-making and strategic planning.

We extend our heartfelt gratitude to the dedicated teams at Hilton Hotels & Resorts, Marriott International, Accor, Wyndham Hotels & Resorts, Hyatt Hotels Corporation, Radisson Hotels, Meliá Hotels International, Grivalia Hospitality, Hotelbrain Group, Brown Hotels, and SWOT | Hospitality Management Company for their invaluable insights and op-ed contributions. Additionally, we would like to express our profound appreciation to Dr. Aris Ikkos, the Research Director of the Institute SETE, for his expert insights and significant impact on our research. 

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In the wake of the pandemic, the Greek hospitality sector has witnessed a remarkable influx of investments, marking a new era in the industry’s landscape. These investments have ushered in a wave of international hospitality brands, significantly enhancing Greece’s appeal as a global destination. The country has proudly introduced its first Mandarin Oriental in Costa Navarino, first One & Only in Athens, and first W hotel, among others. These additions have not only diversified Greece’s hospitality offerings but have also underscored the nation’s growing prominence on the international tourism stage.

Looking ahead, the horizon is adorned with the anticipation of welcoming more prestigious brands to Greece, including the first Conrad, the first Waldorf Astoria, and the first Six Senses. With over 60 new hospitality projects announced, an interesting composition emerges where 40% will operate under international brands, while the remaining 60% will be spearheaded by domestic entities. This blend of global and local influences underscores Greece’s hospitality sector’s dynamic and multifaceted nature.

In closing, the essence of this report circles back to the foundational principle of clarity. In an era marked by rapid growth and significant transformations, the ability to discern the trajectory of hotel investments with clarity is invaluable. This report aims to serve as a comprehensive repository, offering stakeholders a clear and detailed overview of the upcoming developments in the Greek hospitality sector. Through this endeavor, we hope to contribute to a well-informed and strategically poised industry, ready to embrace the opportunities and challenges of the future with confidence and insight.

Cover photo by Content Pixie

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