The Crete market was the focus of the Crete ShortStay Conference held in Chania on 2 November. A large number of property owners active in the alternative accommodation market as well as short term rental and villa property managers attended the speeches and presentations of global market experts and made contacts with companies that provide solutions and tools to optimize the management and performance of their properties.
The event brought together speakers from leading companies in the field, such as PriceLabs, Octorate, Beyond and KeyData, as well as representatives of local companies such as ThinkVilla, etouri, CreteVillas4u and Tourmie. Participants had the opportunity to learn about the latest technological developments, management strategies, as well as participate in discussions related to new regulations and market challenges.
The market of Crete
The messages from the representatives of the major platforms, Airbnb, Booking.com and Vrbo, are particularly positive for Crete. Mr Tasos Efthymiou, responsible for Greece and Cyprus at Booking.com, said that between April and September, while the number of available accommodation listings increased by 3% compared to the same period last year, the number of overnight stays increased by 12%, signalling the increase in demand. But the market outlook for next year is already very good, with bookings so far for summer 2025 up 31% on the same period last year.

According to Beyond, a company that provides revenue management tools for the short-term rental industry, over 29,000 accommodation establishments were operating in Crete during the summer, a 21% increase compared to the same period last year. However, their occupancy rate increased by 2%, indicating very strong demand.
The occupancy rate of accommodation during the summer months moved above 45% and reached 54% in August, remaining at the same level as last year, despite an increase in the number of listings available on the platforms, KeyData data showed.
Note that 60% of alternative accommodation bookings in Crete come from Booking.com, Beyond data showed.
Travel trends in short-term rentals
In the immediate aftermath of the pandemic, the dominant trend was FOMO (Fear of Missing Out), with travellers wanting to be everywhere and do everything. Now, JOMO (Joy of Missing Out) is becoming the rising trend, as the crowds in various destinations during the high season lead many travellers to choose the extremes of the season, explained James Cassidy, senior director of Vrbo.

This trend was confirmed by KeyData data, which recorded a 15% increase in occupancy rates in May and June for Crete. Visitors are looking for the best value for money and the extremes of the season are much more advantageous. After all, in Crete, good weather is an ally.
In addition, at the peak of the season, visitors are able to book longer stays, a trend that is increasingly on the rise. Anastasios Denedios, Market Manager of Airbnb, explained that in the third quarter stays of more than 28 nights accounted for 18% of bookings on the platform. Long-term stays increased by almost 20% in Q3 2023 compared to the same period last year. The rise in long stays was also driven by accommodation offering a monthly discount, which accounted for 48% of all accommodation in Crete.
In addition, family trips to the island increased by 25% this year compared to last year, a figure that represents around 15% of visitors to Crete. The majority of tourists who booked through Airbnb are from the US and European countries such as the UK, Germany, France, Italy and Greece. As noted by Mr. Denedios, the markets of the Netherlands and America saw the biggest increase for Crete.

The solution to the housing problem does not lie in the restriction of short-term rentals
The issue of regulatory frameworks and restrictive regulations that governments in various countries around the world, including Greece, are attempting to introduce was also discussed at the Crete ShortStay Conference. Acting Secretary General of the European Holiday Home Association, Viktorija Molnar, reported on European Union directives affecting the short-term rental industry, including the imposition of VAT in the digital age (ViDA), which platforms will impose on all listings, even those owned by individuals, and the creation of a common European property registry.
In addition, a number of speakers, including the secretary of the Association of Short Term Rental Companies – Stama, Theocharis Michaelides, the CEO and founding partner of Elxis, George Gavrielides, and the manager and owner of Oreo Travel, Stavros Beretis, rejected the accusation that short term rentals are the main culprit for the housing problem. In analysing this existing problem, they all concluded that its causes lie in the rise in property prices and the simultaneous existence of hundreds of thousands of closed apartments in cities, rather than in the growth of short-term rentals, which provide additional income for landlords, boost the local economy and create new jobs. They explained that in cities around the world where strict restrictions on short-term rentals have been imposed, the housing problem has not improved in the slightest.

Theoharis Mihailidis – Secretary, STAMA
Stratos Beretis – Owner, Oreo Travel
Sessions for useful tools and efficient solutions
The conference also included workshops and interactive sessions, with a focus on sharing experiences and developing partnerships. Discussions focused on strategies that industry professionals can adopt to meet modern demands and maximise revenue and customer satisfaction.
Grand Sponsor of the Crete ShortStay Conference was Vrbo, Conference Sponsors were etouri, ThinkVilla, CreteVillas4u, Hotelyzer, hosthub, webhotelier | primalres, Radefy, Avantio, Key Data, Beyond, PriceLabs, Octorate, tourmie, TravelStaytion, PrimeHost, Crete Chef Services, 12Gods. Tourmie, as a Digital Attendee Experience Partner, provided the specialized digital guide to the conference. Supporters of the Crete ShortStay Conference were Airbnb, Booking.com, Vrbo, European Holiday Home Association (EHHA), Stama and POMIDA.
The date of the ShortStay Conference is renewed for 14-15 February 2025, in Athens, at the Ancient Eleonas Conference Centre.