Greek hotel sector to receive €1.5 bn in 2025 upgrades, revenue hits €12.5 bn

The Institute of Tourism Research and Forecasts (ITEP) reported that investments in Greek hotel renovations and extensions will reach €1.5 billion in 2025, up from €1 billion in 2024. Around 20.7 % of the funding is earmarked for sustainability projects. Total hotel turnover is projected at €12.5 billion for 2025, an 8.7 % increase over the previous year.

The hotel stock now comprises 10,118 establishments with a shift toward higher‑rated properties: five‑star hotels grew from 412 to 869 units (‑+111 %) and their rooms rose 79 % to 112,074, while four‑star units increased 45 % in number and 31 % in rooms. Two‑ and one‑star hotels fell by about 22 %.

Employment in the sector rose to more than 225,000 workers in 2025, with a notable share of women in senior managerial roles. In the first five months of 2026 average occupancy was 63.2 % and the average double‑room price €117, modestly higher than a year earlier.

Tourist arrivals are forecast at 38 million in 2025, generating €23.6 billion in tourism revenue. Tourism directly contributes about 13 % of Greece’s GDP and, when multiplier effects are included, roughly 30 % of total economic output. The hotel market recorded a compound annual growth rate of 21 % for 2021‑2025.