The GBR Consulting Barometer is a regular suvey to obtain insights into the Greek hotel industry's opinions current issues as well as expectations about Occupancy (OCC) and Average Room Rate (ARR).

1. Tourism Barometer
Snapshot Q3 2014
Expectations of the
Greek Hospitality Sector
July 2014

2. Barometer Snapshot Q3 2014
• Overall the Greek hotel sector is very optimistic for the coming third quarter of
2014. Significant increases are forecasted compared to the same period last
year for both occupancy and room rates.
• The city hoteliers have a very positive outlook for Q3 2014 on all levels, while
the resort hotels are more cautious in their predictions: although the
barometers show a positive development overall, still approximately 4 out of 10
resort hoteliers expect stabilising occupancy levels and ARRs or even
decreases.
• The analysis per hotel category of this quarter’s barometer survey shows that
– The 5 and 4 star hoteliers are very positive expecting strong improvements in occupancy
and room rates this quarter.
– The 3 star hotels are among the most optimistic of this quarters’ survey. Significant
improvements are forecasted on all fronts.
– The 2 star hoteliers are optimistic with respect to their occupancy levels as they forecast
significant improvements. However, in terms of room rates they expect overall a
stabilising trend for both their own hotels as for the market in general.

3. 50.0%
7%
18%
19%
19%
37%
• All the meters reflect the hoteliers’ projections for current Quarter with
respect to Occupancy (OCC) and the Average Room Rate (ARR) for:
– their Own Hotels, in the top half of each page
– the Market Overall, in the bottom of each page
How to read the Quarter meters
37% expects
stabilisation –
between -2% and +2%
18% expects an
increase -
between 2% and 5%
7% expects an
increase –
more than 5%
19% expects a
decrease –
more than 5%
The needle shows the
overall expectation /
feeling1
19% expects a
decrease –
between 2% and 5%
1 The position of the arrow is based on the weighted average of the projections for increases and decreases, where the
increases / decreases of more than 5% have a weight twice as high as the increases / decreases of between 2% and 5%

4. 5%
3%
18%
32%
42%
«MY HOTEL»
All hotels
The Greek hoteliers
continue to be very
optimistic on the
performance of their
hotels in the third
quarter of this year.
They forecast
significant
improvements in
occupancy levels and
room rates compared
to the same quarter
last year. For the
market in general
hoteliers are slightly
more cautious on ARR
development, but still
very positive.
7%
6%
17%
38%
33%
3%
6%
15%
38%
37%
«MARKET IN GENERAL»
5%
8%
21%
37%
29%
ΟCC ARR
ΟCC ARR
Decrease
2 – 5%
Stability
-2% - +2%
Increase
>5%
Decrease
>5%
Increase
2 – 5%
% of respondents that expected
Expectations for 2014 Q3

5. 2%
11%
29% 58%
«MY HOTEL»
City hotels
The city hoteliers in the
barometer survey
expect clearly
significant
improvements in the
overall performance of
their hotels. Almost 9
out 10 hoteliers expect
occupancy levels to
improve with 2% or
more for both their
hotel units and the
market as a whole.
With respect to room
rates about 8 out 10
hoteliers expect similar
performance.
2%
2%
15%
39%
42%
2%
11%
41%
46%
«MARKET IN GENERAL»
3%
3%
20%
38%
38%
ΟCC ARR
ΟCC ARR
Decrease
2 – 5%
Stability
-2% - +2%
Increase
>5%
Decrease
>5%
Increase
2 – 5%
% of respondents that expected
Expectations for 2014 Q3

6. 6%
8%
23%
35%
29%
«MY HOTEL»
Resort hotels
The resort hotels are
more cautious than the
city hotels in their
forecast for the coming
quarter. Even though
the barometers show a
positive development
overall, there is a
group of hoteliers that
expects stabilising
occupancy levels and
ARRs or even
decreases. Around 4
out 10 hoteliers fall in
these categories, while
6 out of 10 hoteliers
expect increases of 2%
and more for both
occupancy and room
rates.
10%
8%
18%
37%
27%
6%
10%
21%
35%
29%
«MARKET IN GENERAL»
7%
14%
21% 37%
21%
ΟCC ARR
ΟCC ARR
Decrease
2 – 5%
Stability
-2% - +2%
Increase
>5%
Decrease
>5%
Increase
2 – 5%
% of respondents that expected
Expectations for 2014 Q3

7. 3%
3%
11%
37%
46%
«MY HOTEL»
5* hotels
The 5 star hoteliers
have forecasted for this
coming quarter
significant
improvements in
occupancy levels and
room rates. We note
that for the market in
general, 24% expects
stabilising and 6%
falling ARRs. On the
other hand, 69% has
forecasted strong
increases in ARR and
82% in occupancy as
well.
3%
15%
47%
35%
3%
3%
12%
55%
27%
«MARKET IN GENERAL»
3%
3%
24%
45%
24%
ΟCC ARR
ΟCC ARR
Decrease
2 – 5%
Stability
-2% - +2%
Increase
>5%
Decrease
>5%
Increase
2 – 5%
% of respondents that expected
Expectations for 2014 Q3

8. 7%
19%
32%
42%
«MY HOTEL»
4* hotels
The barometers of the
4 star hotels are all
predicting a very good
third quarter compared
to last year.
Nevertheless, a large
minority expects
stabilising levels or
even decreasing rates.
The forecasts of the
market in general is
very similar to the
forecasts of their own
hotels.
3%
7%
26%
29%
36%
3%
6%
19%
31%
41%
«MARKET IN GENERAL»
7%
28%
31%
35%
ΟCC ARR
ΟCC ARR
Decrease
2 – 5%
Stability
-2% - +2%
Increase
>5%
Decrease
>5%
Increase
2 – 5%
% of respondents that expected
Expectations for 2014 Q3

9. 20%
25% 55%
«MY HOTEL»
3* hotels
The 3 star hoteliers are
the most optimistic of
the barometer survey
for the coming quarter.
In terms of occupancy
none of the hoteliers is
expecting decreases
and for rooms rates
only 6% expects mild
decreases of 2-5% as
far as their own hotels
are concerned. For the
market in general the
outlook is also very
positive with 85%
expecting increases in
occupancy of 2% and
more and 82% similar
increases in ARR.
5%
10%
25%
60%
6%
13%
38%
44%
6%
13%
38%
44%
ΟCC ARR
ΟCC ARR
Decrease
2 – 5%
Stability
-2% - +2%
Increase
>5%
Decrease
>5%
Increase
2 – 5%
% of respondents that expected
Expectations for 2014 Q3
«MARKET IN GENERAL»

10. 11%
11%
16%
26%
37%
«MY HOTEL»
2* hotels
The 2 stare hoteliers
show a mixed picture.
While they are very
optimistic to improve
their occupancy rates
with at least 2%, they
expect overall
stabilising room rates.
For both the market as
a whole and their own
hotels around 50%
expects increases
while the other 50%
expects stabilising
ARRs or decreases.
25%
13%
13%
31%
19%
6%
11%
17%
22%
44%
«MARKET IN GENERAL»
13%
25%
13%
31%
19%
ΟCC ARR
ΟCC ARR
Decrease
2 – 5%
Stability
-2% - +2%
Increase
>5%
Decrease
>5%
Increase
2 – 5%
% of respondents that expected
Expectations for 2014 Q3

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Tourism Barometer
2014 Q3
Expectations
Greek Hospitality Sector