ECONOMY

Myconos hotel rates beat Monaco

myconos-hotel-rates-beat-monaco

Average online double-room rates for Myconos hotels have risen above 500 euros per night for this month, even exceeding luxury hotels in Monte Carlo, according to the latest data on holiday booking website Trivago.

Trivago indicates that the average rate across Greece this month is 160 euros per night, almost on a par with the rate in August 2014. This is the fourth-highest average online rate among the 24 European countries listed on Trivago’s chart. Switzerland tops the chart on 259 euros, with Britain and Croatia following.

In Athens, the average hotel rate has posted an annual increase of 25.6 percent, reaching 113 euros this month. Despite the demand, the cost of accommodation in the capital’s hotels remains below that of other rival European city destinations, such as Barcelona (153 euros), Rome (120 euros) and Istanbul (118 euros).

Data show that the cost of accommodation on Myconos is highest by far, as its average rate of 507 euros is trailed by Monte Carlo, which is a distant second on 470 euros. Santorini hotels also rank quite high with a 412-euro average rate.

Nevertheless, the level of hotel prices on Myconos and Santorini does not seem to have discouraged high-income holidaymakers, who revisit the popular Cycladic islands year after year. This year the rise in air arrivals during the first half of the year reached 23.3 percent for Myconos and 10 percent for Santorini.

A growth trend has also been recorded at many other popular resorts around the country: On Paros, average hotel rates have soared by 45 percent to 159 euros, in Hania by 22.7 percent to 119 euros, on Naxos by 18.5 percent to 160 euros, on Spetses by 18.4 percent to 232 euros, on Milos by 17.2 percent to 109 euros and on Corfu by 10.4 percent to 117 euros. Rates have dropped on Lefkada, by 5.3 percent to 124 euros, and on Cephalonia, by 0.9 percent to 107 euros.