More than 15 percent of Athens hotels closed down last year because of the eurozone crisis, the Greek hotel association said on Wednesday, while citing better value for money thanks to lower rates.
"Last year, 41 hotels (out of 240) closed in the capital, mostly establishments with fewer than three stars or located in outlying districts," association president Alexandre Vassilikos said.
"It's the first time that we've seen closures of this magnitude, in a city that lives so much off tourism."
He said it had not been a good year, with few reservations and many cancellations due to concerns over the country's political stability, fears fuelled by the many Greek demonstrations in 2012.
"Everyone was asking whether we'd stay or leave the eurozone, whether ATMs would continue to dispense money. There was a great fear over Athens as a tourist destination."
But he added that a roughly 10 percent drop in rates had improved the quality-price ratio of hotels in the debt-ridden country's capital, upping its competitiveness compared to other European cities.
Vassilikos also struck a note of optimism for 2013, saying it would be "a better year", with 500 000 extra visitors expected across the country.