The ShortStay Crete Conference, which will take place on November 2, 2024 in Chania at the Mikis Theodorakis Theatre, is an important event for the short-term rental market in Crete. This event, which has moved from Athens to Crete for the first time ever, marks the growing importance of the island in this sector and the efforts of the market to highlight its potential.
The short-term rental market in Crete
As the largest tourist destination in Greece, Crete has attracted the interest of tourists, many of whom choose to stay in short-term rental accommodation. AirDNA data shows an impressive increase in overnight stays in summer 2024, with 1.367 million overnight stays from May to September – an increase of 152% compared to the previous year.
Crete has benefited from keeping prices stable during the summer, with the average price per night ranging from €131 to €154. This strategy helped to maintain high occupancy rates, which averaged 67.5% compared to 63.6% last year. The best month was August with an occupancy rate of 80.8% in 2024 compared to 75.1% in 2023, followed by July 73.4% in 2024 compared to 71.2% in 2023 and September 67% in 2024 compared to 60.4% in 2023.
There is also a gradual increase in the booking window. For example, about 30% of August bookings were made more than 3 months in advance, while 17% of August bookings were made more than 3 months in advance.
Dynamic growth
The market in Crete is experiencing strong growth, with the construction of new tourist accommodation representing a significant investment opportunity, especially in eastern Crete, where until recently the areas were largely underutilized. The construction of the new airport at Kastelli is also expected to further boost tourism.
In Crete, the three largest property managers, Think Villa, Etouri and Oreo Travel, manage hundreds of properties in total, highlighting the professionalization of the sector and the importance of strategic property management.
The ShortStay Crete Conference will not only be a meeting point for industry professionals, but also an opportunity to discuss the prospects and challenges facing the market.
The conference will be a platform for the exchange of views and expertise and will examine the challenges facing short-term rental in Crete, including market regulation and the need for sustainable tourism development.
See here the program of the ShortStay Crete Conference
Ακολουθήστε μας στο Google News και μάθετε πρώτοι όλες τις ειδήσεις!
