Greece—Athens in particular—is emerging as a prominent hub on Europe’s hotel investment map, during a year in which the continent’s hospitality market delivered one of its strongest performances in the past six years.

According to the 2025 European Hotel Transactions report by HVS, total hotel transaction volume across Europe reached 22.6 billion euros in 2025, marking a 30% increase compared to 2024 and the highest level recorded since 2019. Notably, this represents the third-highest performance ever observed in the European market.

Within this broader landscape, Greece stands out for its remarkable momentum. The country ranked among the top five markets in terms of transaction value—covering both hotel portfolios and single-asset deals—with a total volume of 1.119 billion euros, up by 479 million euros year-on-year. At the same time, Greece climbed two positions in the ranking of Europe’s ten largest markets, moving from seventh to fifth place.

Athens, in particular, delivered an even more striking performance. The Greek capital rose three places to rank fourth overall, with total transactions amounting to 663 million euros. It also secured second place among European cities in portfolio transaction volume, reaching 271 million euros—trailing only London and surpassing Paris. This performance underscores Athens’ growing and increasingly distinct investment footprint in the global hospitality sector.

The broader European environment proved highly supportive of investment activity. Easing interest rates by central banks, improved financing conditions, resilient hotel operating performance, and increased availability of investment capital all contributed to a significant uptick in transaction volumes.

Overall, the European market evolved along two main axes. On one hand, single-asset hotel transactions reached a historic high of 15.6 billion euros, rising by 48% compared to 2024. On the other hand, portfolio transactions remained stable at 7 billion euros, albeit with notable geographic shifts compared to the previous year. The United Kingdom maintained its leading position, while France moved into second place and Germany recorded one of the most notable recoveries of the year.