CASE STUDIES

Athens Residence Christokopidou

Located in a privileged location right in the heart of Athens's historic centre, in the namesake scenic alley of hip Psirri neighbourhood, the eco-friendly Athens Christokopidou Residence hotel, which opened on August 30, 2020, is a rare hospitality success story in the middle of Covid- 19.

 

Designed by Elastic Architects, it is located in an exquisitely remodelled building that was home to local artisans for decades. It includes 16 uniquely designed rooms, decorated with custom-made Italian furniture, and a suite with a retractable roof and panoramic views of the Acropolis.

 

Athens Residence Christokopidou is a brand new & subversive oasis of high urban aesthetics with unrivalled facilities that include a spa (consisting of an indoor heated pool, Turkish bath, sauna and two massage cabins) inspired by the blue sea caves of the Greek islands. Of note are the snack bar and the four-seater jacuzzi on the terrace, from where you can enjoy stunning views of the Acropolis. Particular reference should be made to the hotel's breakfast basket, which immediately and rightly talked of the town.

 

The Athens Residence Christokopidou, which was awarded as the New Hotel and Urban / City Hotel at the Hotel of The Year, aroused interest from the first moment and won the public's trust.

 

From 08/30 to 31/10/2020, it remained in booking.com's top ten ranking for Athens hotel searches and in the top three for hotels in the area of ​​Psyrri. Furthermore, it performed excellently with:

  • Occupancy: 84%

  • Net ADR: € 86

  • Average GOP: 25% 

  • Direct Bookings: 38%

The above indicators are of extreme importance in the light of proving the dynamics of a new hotel that opened during a pandemic, without having time to advertise before the opening because the original estimate was for the end of September.

 

Regarding profitability, at Butterfly Hotel Operator, we always apply a model based on the variable cost approach. This means that we avoid the many fixed and inelastic costs, and we manage the expenses to be proportional to revenue by up to an 80% level !!!​

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