Greece remains one of Europe’s top short-term rental destinations, with overnight stays increasing by 20.1% in February 2025 compared to the same month last year. This growth outpaced the supply increase of 7%, boosting occupancy rates across the country, according to AirDNA.
Athens, Thessaloniki, and Crete ranked as the top three destinations within Greece, with demand in these locations rising at a strong double-digit rate in February 2025.
Additionally, in February, short-term rental bookings in Greece for the upcoming months of the year recorded an 18% increase.
Easter bookings in Greece
This year, Orthodox Easter coincides with Catholic Easter on April 20, unlike in 2024 when it was celebrated on May 5. This alignment has led to an early surge in Easter bookings, with existing reservations already reaching 2024 levels, signaling strong travel demand for Greece.
Short-term rental performance in Europe – February 2025
February 2025 continued the strong momentum in Europe’s short-term rental (STR) market. Key performance metrics include:
Available listings: 3.1 million (+7.7% YoY)
Average Daily Rate (ADR): €158 (+0.9%)
Average Occupancy Rate: 54% (+3 percentage points, +4.9% vs. 2019)
Revenue per Available Night (RevPAR): €89 (+4.3%)
Bookings for future stays: +13.7%
European economy and its impact on tourism
The EU economy showed steady growth in February 2025, with GDP expected to increase by 1.0%, according to the OECD and Vanguard.
Inflation eased to 2.4% year-over-year, nearing the ECB’s 2% target. As a result, the ECB lowered its key interest rate to 2.5% in early March, boosting liquidity and consumer confidence.
A potential challenge is the appreciation of the euro against the dollar, which may dampen demand from non-EU travelers. However, strong economic growth and a resilient labor market support domestic tourism.
Strong booking growth across Europe
The countries with the highest increase in future bookings in February were:
Poland (+28% YoY)
Norway (+23%)
Czech Republic (+20%)
Greece (+18%)
Spain (+18%)
Conversely, the countries with the lowest growth were Denmark (+2%), the UK (+4%), and Sweden (+9%).
Double-digit growth in overnight stays
Among Europe’s 20 largest markets, 11 countries recorded double-digit growth in overnight stays in February. The highest growth rates were seen in:
Norway (+31.7% YoY)
Poland (+30.6%)
Finland (+22.7%)
Czech Republic (+21.4%)
Greece (+20.1%)
In contrast, Germany (-2.3%), Austria (-2%), and Croatia (-3.2%) saw declines in occupancy rates in February.
Strong Easter demand and last-minute deal opportunities
Rising travel demand for Easter has driven high occupancy levels. In many European cities, Easter occupancy already exceeds 60%, with ADR among the highest in Europe.
However, for travelers seeking last-minute deals, Munich and Cologne in Germany have lower occupancy and ADR compared to surrounding weeks.
The impact of the Jubilee Year in Italy
Italy is emerging as the most popular destination for 2025 due to the Jubilee Year, a major religious event held every 25 years that attracts millions of visitors to Rome.
Bookings for Italy surged significantly two weeks before Easter, with ADR reaching €184, matching Holy Week levels. Strong demand is expected to continue for four weeks after Easter, keeping prices high.
Beyoncé’s concerts drive a surge in Paris bookings
Beyoncé’s concert tour in Paris this June has triggered a surge in short-term rental bookings, with demand increasing by 20-30% on concert days.
Specifically, on June 19 and 22, daily bookings have already reached 49,400 per day, compared to 42,700 the previous week, highlighting the importance of major events in hosts’ pricing strategies.
