Thessaloniki Hotel Market Dynamics - Turn back the Clock

by Victor Matsas • 27 Dec 2024

Location: Greece, Thessaloniki

We have just returned to Athens from Philoxenia and we are eager for analyses on the dynamics of the co-capital!
Thessaloniki Hotel Market Dynamics - Turn back the Clock
So we thought to capture in a chart some dynamic data, such as market availability and weighted average (WM). In particular, we want to compare the current values of these variables with the values they had about a month ago.

In this way we will be able to monitor how rapid the changes are taking place day by day, for a period between now and the end of February.

This time the shopping on Booking was for a stay of one and three days and along with the rest of the dynamic market data, we chose to look at Vanoro Hotel hotel prices as an example.

Dashed lines show the values of variables from 1 month ago, and continuous curves show current values.

General Conclusions:

1) Availability: For the entire period from today until the end of the year, the continuous curve of 5-star availability shows a downward trend compared to the prices it had a month ago, since the dotted curve was at higher levels. But the opposite happens from 1/1/2025 onwards! On New Year's Eve there are very few rooms for a one-night stay, while there is still availability for a three-day stay.

2) Weighted average prices: For the entire period from today until the end of the year, the continuous curve of the 5-star PM shows an upward trend compared to the values it had a month ago, since the dotted curve was at lower levels. Minimal changes in PM are observed from 1/1/2025.

3) Demand hits red and prices take off on November 30 and December 31 (expected). PM on November 30 jumps to 800 € due to the fact that the only available room for the Makedonia Palace hotel on Booking is the presidential suite. On the contrary, for December 31, the PM is at more reasonable levels (250 € for LOS=1 and 300 € for LOS=3).

4) We see that the prices of Vanoro Hotel closely follow the green corridor of Hotel Insider's suggested price range until the end of the year. Beyond that, our proposals for this hotel are at lower levels.