Hotel bookings in Thessaloniki have slowed down following the outbreak of war in Iran, despite a positive start to the year. However, data from the property management platform Hosthub show that short-term rentals have demonstrated resilience during the same period, with demand remaining steady or increasing.
According to Hosthub's March 2026 analysis, the Middle East geopolitical crisis did not significantly affect Greece's overall short-term rental market. Booking rates across the country increased marginally by 0.3% compared with March 2025, although trends varied by region. In contrast, Cyprus experienced a sharp 27.3% decline in booking rates.
Thessaloniki remains among the stronger-performing destinations, with Airbnb bookings in the city rising by around 14% in March, followed by a further 15.2% increase during the second ten-day period of the month. This growth indicates that a considerable share of visitors to the city prefer short-term rental accommodation over hotels.
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The findings are complemented by data from the Institute of the Greek Tourism Confederation (INSETE), which reports a substantial increase in planned airline seat capacity at Thessaloniki's "Makedonia" Airport. For March 2026, scheduled seats rose by 68.6% year-on-year, reaching 195,899, according to Air Data Tracker figures covering the period from March to October.
Elsewhere in northern Greece, Halkidiki recorded a 4.9% increase in short-term rental bookings, though the sample size was relatively small. Across Greece, the strongest growth was observed in other regions, including the rest of Greece (+16.2%), the Cyclades (+29.1%), and the Ionian Islands (+25.5%).
Conversely, Athens was the only major destination to see a significant decline, with bookings dropping by 11.3%. Hosthub attributes this decrease to the nature of city-break travel, which tends to be more vulnerable during periods of uncertainty, as these trips are short, impulsive, and easily postponed- unlike main summer holidays, which travellers tend to safeguard.
Broadly, the company states: "Despite concerns, travellers did not cancel or postpone their bookings for Greece. The country appears to be considered sufficiently distant from the conflict so that the perception of safety is not affected." It contrasts this with Cyprus, described as the most affected market, where demand has diminished due to geographical proximity to the conflict zone and negative media coverage.
by Lina Tsireka - adapted from Greek by Vassia Barba
