TBC research: Georgia sees rise in occupancy rates of hotels

BAKU, Azerbaijan, June 20

By Tamilla Mammadova – Trend:

The forward occupancy rates of the surveyed branded hotels in Georgian regions increased in the second half of June and totaled 22 percent as of June 15 reservations, Trend reports with reference to TBC Research Group at Georgian TBC Bank.

Circa 86 percent of June reservations were made by Georgian citizens, whereas non-residents made 14 percent of the bookings. The proportion changes in the following months, with 70 percent of bookings in July currently made by the foreigners.

In June, the yea-on-year decline in the room prices (ADR) in the surveyed hotels equaled circa -30 percent for Tbilisi, circa -40 percent for Batumi and circa -50 percent for the regions.

The report notes that the non-cash spending on hotels marginally improved due to the domestic tourism. By now, the residents remain a sole source of the spending on hotels in Georgia.

Moreover, further improvements are visible in restaurant spending as restrictions have eased.

Domestic tourism has already resumed in Georgia, and the country is now getting ready to reopen its airspace to international flights starting from July 1.

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