Monday, June 30, 2025
Greece has firmly established itself as a leading force in the European luxury hotel market, joining the EU’s top 5 in 2024 with an impressive €438 million in transactions. While Germany and Sweden continue to dominate in hotel investments, Greece’s remarkable growth, marked by high-value deals and premium property acquisitions, has made the country a competitive player in the luxury sector. This surge in investments, particularly in iconic destinations like Athens, Mykonos, and Santorini, highlights Greece’s rising appeal to global investors and its ability to maintain strong momentum in the face of economic challenges.
In 2024, Greece’s hotel sector witnessed an impressive surge in both investment and infrastructure growth, marking a pivotal year for the nation’s luxury hospitality market. The country added 12,000 new hotel rooms, with 8,500 of those being in four- and five-star properties, according to data from the Hellenic Hoteliers Federation, processed by INSETE Intelligence. This expansion underscores the increasing demand for high-quality accommodations in Greece, reflecting a broader trend of international and domestic interest in luxury tourism in the country.
The European luxury hotel market, too, saw strong performance in 2024, recording €10.95 billion in transactions across 137 deals involving four- and five-star hotels, as reported by Global Asset Solutions. Despite a challenging economic environment, marked by inflation, geopolitical tensions, and fluctuating demand, the luxury hotel sector demonstrated resilience and strong growth. Greece stood out within this landscape, with its high-quality offerings continuing to attract significant investor interest despite the overall reduction in the number of transactions across the continent.
Greece’s Strategic Hotel Investments
Greece made a remarkable impact within this broader European trend, securing €438 million in hotel investments through just four key transactions. These investments accounted for approximately 4% of the European Union’s total hotel investment market, reflecting Greece’s growing importance as a destination for high-value hotel investments. This figure is particularly notable considering that it was achieved through just a few major deals, showcasing the country’s ability to attract large-scale, premium investments.
One of the most significant aspects of Greece’s hotel investment performance in 2024 was its exceptionally high transaction values. With an average transaction value of €109.5 million per deal, Greece achieved the highest average in Europe for the year. This figure significantly surpasses the transaction values recorded in other key European markets such as Sweden and Germany, further cementing Greece’s position as a leader in luxury hospitality investments.
In addition to the impressive transaction values, Greece also achieved a remarkable price-per-room of €332,000, surpassing many of its European counterparts. This figure highlights the premium nature of the hotels that were sold and acquired in the country, underscoring the fact that Greece continues to attract investors looking for high-quality, high-value assets in the luxury sector. In total, 1,321 hotel rooms changed hands in Greece, further illustrating the shift towards premium properties and locations that offer strong growth potential.
Greece’s Leading Role in the European Hotel Market
The strong performance of Greece’s hotel sector comes amid a competitive European hotel investment market, where several countries vie for investor attention in the luxury space. While the broader European market saw €10.95 billion in luxury hotel transactions in 2024, Greece’s performance demonstrated that, even in a more competitive market, it has the ability to capture a significant share of high-value deals.
This success can be attributed to several key factors, with Greece’s mix of historical appeal, beautiful landscapes, and high-end infrastructure playing a major role in attracting both international and domestic investors. Prime locations like Athens, Mykonos, and Santorini have become synonymous with luxury tourism, and they continue to capture the attention of investors looking for iconic properties with strong growth prospects. The ongoing appeal of these locations, particularly with a global resurgence in luxury travel, means that Greece remains a highly attractive investment destination in the European hotel market.
The investment in Greece’s hotel infrastructure extends beyond just room additions. The country has also seen significant developments in the renovation and refurbishment of existing properties, further enhancing its appeal as a top-tier destination for luxury tourism. With both new developments and extensive renovations occurring across key locations, Greece’s hotel market is becoming increasingly sophisticated, meeting the expectations of affluent travelers from around the world.
Key Transactions and Future Outlook
Among the standout deals in 2024 was the acquisition of the Grand Hyatt Athens, a 548-room hotel, which became Europe’s largest hotel transaction by room count for the year. This deal alone helped solidify Greece’s standing as a dominant force in the European luxury hotel market. Athens’ growing appeal as a hub for luxury hospitality is evident, with both domestic and international investors increasingly turning their attention to the capital as a prime location for high-end investments.
Other regions, such as Mykonos and Santorini, have also attracted considerable investment due to their continued popularity with high-net-worth individuals and luxury travelers. These destinations remain key components of Greece’s luxury hotel sector, offering not just an iconic destination for tourists but also a profitable opportunity for investors seeking premium assets.
Looking ahead, the future of Greece’s hotel sector appears exceptionally bright. The combination of strategic investments, increasing demand for high-end accommodations, and the ongoing appeal of iconic Greek destinations ensures that Greece will continue to be a major player in the European luxury hospitality market. The country’s ability to attract selective, high-value investments highlights the resilience and long-term potential of its tourism sector.
Greece has surged into the EU’s top 5 luxury hotel markets in 2024, securing €438 million in high-value transactions. While Germany and Sweden remain strong, Greece’s impressive growth signals its rising prominence in the luxury hospitality sector.
With the ongoing development of both new and renovated luxury properties, Greece’s position as a global leader in luxury tourism is secure. As international demand for luxury experiences continues to rise, Greece is well-positioned to maintain its competitive edge in the European hotel market, making it an attractive destination for investors looking to capitalize on the growth of the high-end tourism sector.
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