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TBC Capital: Georgian Kakheti region ranks first in terms of hotels’ occupancy

Business Materials 17 July 2020 19:22
TBC Capital: Georgian Kakheti region ranks first in terms of hotels’ occupancy

BAKU, Azerbaijan, July 17

By Tamilla Mammadova – Trend:

In July 2020, the hotels’ occupancy rate in Georgian capital Tbilisi rose to 4 percent, in Batumi -10 percent, in Kakheti - 2 percent, in other regions (Kutaisi, Borjomi, and Kazbegi) - to 13 percent, Trend reports citing the weekly survey of TBC Capital at Georgian TBC Bank.

The occupancy rate is lower at small and medium hotels; however, Kakheti Region with 20 percent is a leader in this indicator, too.

Head of the TBC Capital research Tornike Kordzaia noted that 25 big hotels and 20 small and medium hotels were covered by the survey.

“The last week recorded about 3 percent higher occupancy than was expected in July, excluding Tbilisi. Kakheti Region is a leader in terms of the occupancy at small and medium hotels. It is worth noting that a higher occupancy rate is recorded in big hotels. Our survey proves that customers prefer big hotels to get discounts and comfort", Kordzaia added.

According to the survey results, compared to the previous week, the occupancy of big hotels in July rose by 1 percent, while in Kakheti this figure grew by 3 percent, and other regions – by 2 percent. The occupancy is comparatively stable in Tbilisi.

Occupancy rate on last weekends declined to averaged 40 percent in Kakheti, 25 percent - in other regions, and 16 percent in Batumi.

As reported, the averaged daily tariffs in Kakheti hotels declined to about 45 percent in July, while slighter slowdown was seen in other hotels. The discounts at small and medium hotels ranged from 10 percent to 60 percent and totaled 24 percent on average.

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