Greek Companies Capitalize on Short-Term Rental Wave

While criticised for pushing locals out of central neighborhoods, the short-term rental trend has also inspired some companies, who are making a profit catering to the needs of the visitors.

The growing supply and demand for short-term holiday rentals in Greece have generated a whole new and fast-growing industry with many firms riding the wave in the Mediterranean tourism destination.

These companies adjusted to the short-term rental trend, offering a wide range of services and products from online software and booking management to pre-packed snacks, welcome drinks, and delicacies.

“As landlords realize the need for technology to assist them in this maturing market, they have to let the experts undertake the management and booking of their property,” said Thanasis Athanasopoulos, Managing Director of a vacation rentals software company based in Athens.

“They need the necessary software to monitor their renting business,” Athanasopoulos added.

Nelly Koronaiou, who runs a pre-packed delicacies company in Athens, also noted that short-term rentals had impacts on her business.

“We have certainly benefitted from the flourishing of short-term holiday rentals, and demand from hosts has been diversifying,” she said, “we are getting demand from hosts especially for Greek products, such as honey, herbs, etc.”

Even companies that originally catered for high gastronomy requirements have turned their attention to short-term rental hosts.

“Landlords wish to have something that will not alienate anyone, so they ask for products such as Greek delicacies and wine bottles that are in most people’s tastes, therefore we have adjusted some of our offerings likewise,” said Maria Halari, a wine expert.

The latest data from the Hellenic Statistical Authority showed that more than a quarter (25.61 percent) of the night tourists spent in Greece in 2018 were at short-term accommodation, the biggest share of which is available for booking online.

Tourism accounted for 20.6 percent of Greece’s gross domestic product and a quarter of employment in 2018, according to the World Travel and Tourism Council, an organization representing the global private sector of travel and tourism.


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