Photo source: Visit Greece / Ⓒ P. Merakos
Thessaloniki is entering a new phase of tourism development, driven by a wave of hotel investments and infrastructure upgrades, according to the Greek Hospitality Industry Performance Q1 2025 report by GBR Consulting.
Over the 2019–2024 period, the number of 5-star hotels in the city rose by 40 percent, while 4-star supply increased by 19 percent.
According to the report, Thessaloniki is now home to five international hotel chains operating six 5-star brands, alongside 13 national and 2 local hotel chains.
Several notable hotel projects are in the pipeline, adding to the city’s growing appeal. These include the upcoming NYX Thessaloniki (130 rooms) by the Fattal Group and the Electra Hotel (165 rooms), both in the 5-star category. The former Olympic Hotel, now under Israeli ownership, is set to reopen as the 3-star Oscar Olympic with 47 rooms.
In March 2025, the former Nikopolis Hotel reopened as the 5-star urban resort September Hotel Thessaloniki, operated by HotelBrain under a lease agreement with owner Nimtenco. Further ahead, hotel developments are also planned within two major urban regeneration projects: the former FIX brewery and the Thessaloniki International Exhibition & Congress Center, each expected to include a property of around 140–150 rooms.
The former Nikopolis Hotel in Thessaloniki.
Moreover, the report said Thessaloniki’s hospitality momentum is supported by broader shifts in accommodation demand. Thessaloniki’s short-term rental market expanded by 20 to 30 percent in 2024, reaching an average of 4,600 units.
Hotel performance indicators also show improvement.
According to GNR Consulting, compared to 2023, occupancy rose by 3 percent, average daily rate (ADR) increased by 6 percent, surpassing the 100 euros threshold for the first time, and Revenue per available room (RevPAR) grew by 9 percent.
Additionally, infrastructure upgrades are helping shape the city’s tourism capacity. The new metro line, which began operation in late 2024, is set to expand with five additional stations toward Kalamaria this year. Meanwhile, construction is ongoing on the Thessaloniki Flyover, a project aimed at reducing congestion on the city’s eastern ring road.
Meanwhile, visitor sentiment remains positive. According to GBR’s “Tourist Profile and Satisfaction” survey, the city maintained a score of 7.8 out of 10, while 94 percent of visitors said they would recommend the destination, and 92 percent expressed interest in returning.
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