Frank Reul, Vice President Development Accor Premium, Midscale & Economy for Eastern Europe, the Balkans, Italy, and Greece, speaks with journalist Vicky Kourlimpini for Capital.gr about the group’s latest investments in the Greek market, its strategy for sustainable growth, and the outlook for Greek tourism. Through new projects such as the revitalization of Elatos Resort on Mount Parnassus and upcoming hotels in Heraklion and Sivota, Accor reaffirms its commitment to Greece, strengthening its presence in one of Europe’s most promising tourism landscapes.

Accor has established one of the world’s strongest hospitality networks, operating in over 110 countries with 5,500 hotels, spanning more than 45 brands across all categories. In the Greek market, the French group also maintains a robust presence, which it is continually expanding, sending a clear message about the competitiveness and future potential of Greek tourism.

Accor’s agreement with the LAMPSA Group (Grande Bretagne / King George) for the management of Elatos Resort & Health Club on Mount Parnassus has already been announced. This investment exceeds €30 million, with the luxury resort expected to reopen in 2026 as a high-end, year-round mountain destination. Accor will manage the resort for 25 years, incorporating it into its prestigious “Emblems Collection.”

Additionally, just a few days ago, the Athens Capital Suites – MGallery Collection on Zalokosta Street commenced operations. This is another LAMPSA investment, featuring 19 luxury suites and exceeding €4 million in value. The official opening of this exclusive property is scheduled for next Thursday.

Q1: Last year ended with very strong performance for Accor hotels in Greece. What are your expectations for this year?

In 2024, Accor saw a strong performance in Greece, with a 13.3 percent increase in room revenue, a 5.3 percent rise in overnight stays, and a 7.5 percent boost in average room rates compared to 2023. European visitors contributed 35 percent of total room revenue (up 5 percent compared to 2023), and international travelers accounted for 30 percent (up 28 percent compared to 2023). Conversely, domestic travelers represented 4 percent of total room revenue, a decline of 36 percent compared to 2023. The company’s success reflects Greece’s enduring appeal, attracting over 35 million international visitors last year, a record for the country. This surge in international tourists highlights Greece’s competitive position on the world stage. It underscores the growing need for a sustainable tourism model that preserves its cultural heritage and natural beauty. Looking ahead, Accor is optimistic about the continued growth of the Greek tourism market. We expect this momentum to carry into 2025, with demand for more sustainable and experience-driven travel rising. We remain focused on expanding our presence across key Greek destinations, prioritizing responsible growth that respects the country’s unique heritage while enhancing the overall guest experience.

Q2: The agreement for the Elatos Resort of the Lampsa Group has already been announced. Are you currently in discussions for the management of additional properties, and what are your objectives for expanding your presence in the Greek market?

In 2025, Accor will open two landmark properties and, at the same time, introduce two new brands to Greece in April Rocca a Mare Heraklion – Handwritten Collection will join the network, and soon after, Mövenpick Resort Agios Nikolaos Sivota. At Mövenpick Resorts, indulgence is done right; this Mövenpick resort, Agios Nikolaos Sivota is located in Sivota, a small settlement built on a gulf at the northwestern edge of Greece, offering a scenery of breathtaking views where dense vegetation embraces the beautiful beaches and the crystal clear waters. Rocca a Mare Heraklion perfectly reflects this collection of curated hotels thoughtfully inviting guests into their charming and stylish homes. Accor, as the leader in Europe, has the brands, sales, distribution infrastructure, people, and, most importantly, customer base to be an ideal partner for hotel owners in Greece, including resorts in a wide range of destinations and hotels in all gateway cities.

Q3: How do you see the future of Greek tourism? Do you believe the upward trend will continue?

Greece has tremendous assets to grow the tourism industry, which is imperative for the future of our industry. The country is blessed with unparalleled natural and cultural wealth, and the preservation of these treasures is a duty of all of us in this industry. Accor has been a pioneer in bringing sustainability to hospitality for more than 30 years, and we are now accelerating our global sustainable transformation. We are building a company that contributes to solving problems rather than creating new ones. This is because the long-term future of our business depends on it and because we must be the preferred partner of guests, owners, investors, partners, employees, and regulators, whose demands are growing ever more stringent. Greece remains a strategic growth market for Accor, supported by increasing tourist arrivals, extended travel seasons, and government backing for sustainable tourism. As long as all actors work within this scope, there are plenty of opportunities, and we are ready to help our partners take advantage of these opportunities. Accor’s commitment to offering premium, experience-driven hospitality aligns perfectly with the growing demand for meaningful, authentic stays, and we are focused on expanding our diverse brands across new destinations in Greece, ensuring the right fit for each location.

Q4: Which Greek destinations interest you for future expansion?

Greece offers a unique blend of natural beauty, cultural depth, and year-round appeal-making it an ideal setting for a variety of hospitality concepts. We are actively exploring both urban centres and emerging leisure destinations that are authentic yet under the radar, with the aim of bringing our diverse brand portfolio to places where it can genuinely enhance the guest experience and support local tourism growth.