PMCG reveals August dynamics of hotel prices in Georgian regions

PMCG reveals August dynamics of hotel prices in Georgian regions

BAKU, Azerbaijan, Sept. 18

By Tamilla Mammadova – Trend:

The analysis of the yearly Hotel Price Index shows that hotels in Georgian Guria (-32.1 percent) and Adjara (-21.7 percent) decreased their prices the most in August 2020, followed by Samtskhe-Javakheti (-20.1 percent), Racha (-12.5 percent), and Mtskheta-Mtianeti (-12.2 percent), Trend reports via the Policy and Management Consulting Group (PMCG) International development company.

The year-on-year decline was even higher for 3, 4 and 5-star hotels compared to the decline in the prices of guesthouses: in Guria, the prices for 3, 4 and 5-star hotels declined by 39.4 percent, while the hotels decreased their prices by 30.1 percent in Samtskhe-Javakheti and by 28 percent in Adjara.

In addition to the Hotel Price Index, the average prices of accommodation in the two regions were analyzed in August 2020, 2019, and 2018. In Guria, the average prices for both guesthouses and 3-star hotels increased in 2019 compared to 2018, by 17 percent and 23 percent respectively.

In August 2020, both types of accommodation suffered a major drop compared to 2019, with the average prices of guesthouses declining from 161 laris ($51.20) to 67 laris ($21.31) and the average prices of 3-star hotels declining from 185 lari ($58.83) to 120 laris ($38.16).

In Adjara, the average prices of 3-star hotels and guesthouses have been declining for the past two years.

The average price of guesthouses in August decreased by 11 percent in 2019 compared to 2018, and by 2 percent in 2020 compared to 2019, while the average price of 3-star hotels declined by 10 percent in 2019 compared to 2018, and by 20 percent in 2020 compared to 2019.

In Batumi, the average prices of guesthouses decreased by 4 percent in August 2020 compared to 2019, while the corresponding figure for 3-star hotels was 24 percent, which is a significantly larger decline than in Adjara overall.

The picture is quite different for 4 and 5-star hotels in Adjara. The average prices of both grew in August 2019 compared to August 2018, by 8 percent and 17 percent respectively, and they both suffered a major drop in August 2020, compared to August 2019.

The prices of the 4-star hotels declined the most in 2020 compared to 2019 (by 38 percent on average), while the prices for 5-star hotels declined by 25 percent on average. In Batumi, the average prices of 4-star hotels decreased by 34 percent in August 2020 compared to 2019, while the corresponding figure for 5-star hotels was 13 percent, which is a significantly smaller decline than in Adjara overall.

"In August, Georgian seaside hotels adopted the strategy of lowering prices and kept their facilities relatively occupied, not stopping their activities. Whether this strategy pays off or not largely depends on the future of the pandemic," the report said.


Follow the author on Twitter: @Mila61979356

Subscribe to Trend in Google News! Subscribe
Saudi fast-food franchise operator Alamar Foods considers IPO
Saudi fast-food franchise operator Alamar Foods considers IPO
Israel and UAE nearing free trade agreement
Israel and UAE nearing free trade agreement
Turkey reveals cargo traffic with Saudi Arabia for 8M2021
Turkey reveals cargo traffic with Saudi Arabia for 8M2021
Loading Bars
Chronicles of Victory: President Ilham Aliyev interviewed by Russian TASS news agency on October 19, 2020 (PHOTO/VIDEO)
Chronicles of Victory: October 19, 2020
Occupation Museum, Memorial Complex and adjacent Victory Park will be built in Fuzuli
Israel congratulates Azerbaijan on Independence Restoration Day
Turkish President congratulates Azerbaijan on Independence Restoration Day
Tigray forces say air strikes hit Ethiopia's Mekelle, government denies
Czech president too ill to work, politicians discuss relieving him of duties
PMs discuss Belarus-Kazakhstan economic cooperation
Pentagon chief says US values Georgia as strategic partner
Azerbaijan's flag illuminated on TV tower in Georgia due to anniversary of restoration of Azerbaijan's independence (PHOTO)
Iran unveils details of its trade turnover with Oman
Bahar Azadi gold coin price continues to fall in Iran
Iran’s Lavan Oil Refining Company reveals products on sale at IRENEX
Post Bank of Iran sees increase in revenues
Price of Turkmen gas supplied to China grows - Wood Mackenzie
Turkey's Presidential Administration congratulates Azerbaijan on Independence Restoration Day
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 1,245 more COVID-19 cases, 409 recoveries
Georgia and US sign Memorandum of Understanding
Uzbekistan Railways expanding transport, logistics co-op with sea and dry ports
Azerbaijan to hold new auction for state property facilities
Saudi fast-food franchise operator Alamar Foods considers IPO
French ambassador makes statement on occasion of Azerbaijan's Independence Restoration Day
German companies interested in expanding economic co-op with Azerbaijan
EU has exported over 1 bln COVID-19 vaccines
U.S. manufacturing output declines in September
Azerbaijan issues startup certificates to more SMEs
Uzbekistan’s private airline launches flights from Tashkent to Moscow
Iran eyes resuming import of Turkmen gas
Azerbaijan's Khudafarin bridge in Jabrayil district - finally liberated (PHOTO)
Azerbaijan’s renewable energy potential exceeds installed capacity fourfold
Kazakhstan to extend food import substitution measures amid COVID-19
Ukraine has every capability to restore infrastructure of Azerbaijan’s liberated territories – MP
Playtech acquired for $3.7b
Total value of Azerbaijan's oil export abroad up in 9M2021
Georgia to further develop relationship with Azerbaijan - Georgian MFA
EU Special Representative for South Caucasus to visit Azerbaijan
Iran records decrease in production of raw steel, steel products
Weekly review of Azerbaijani precious metals market
Turkish MoD congratulates Azerbaijan with its Independence Restoration Day
Ukrainian companies may partake in construction, restoration of Azerbaijan’s Aghdam – MP
Azerbaijan's announces drastic increase in car imports for 9M2021
Pan-European Executive MBA designed specifically to integrate holistic approach to business (VIDEO)
NATO ready to support ensuring peace in South Cacasus region - special rep
Non-OPEC oil output to more than half from 2020 levels
Weekly review of Azerbaijani currency market
Iran reveals COVID-19 data for October 18
Israel and Azerbaijan are great allies and partners, who have common interest in region – former Israeli MP
European renewables generation to exceed 6,000 TWh
Over 60% of total investment to be spent on developing new oil & gas fields
Iran’s NICICO boosts extraction and production
Azerbaijan Automobile Federation organizes 'Time Attack' race (PHOTO)
Azerbaijan's foreign trade turnover increases in 9M2021
Year passes since Azerbaijan's liberation of Khudaferin bridge from Armenian occupation (PHOTO/VIDEO)
EU gas production falls by 8%
Share of renewables in EU power generation mix decreased
North Carolina declares Oct. 18 as Day of Restoration of State Independence of Azerbaijan
MUSIAD aims to raise trade turnover between Azerbaijan and Turkey (VIDEO)
EU gas consumption reaches highest level in last seven years
EIB, EU Commission ink deal on financing for alternative fuels infrastructure projects
Armenia’s failure to provide minefield maps to Azerbaijan impedes restoration work in liberated territories - FM
Azerbaijan sees no effective steps from Armenia in opening transport links - minister
Azerbaijan recommends revanchist forces not to go down wrong path - PM
TAP updates on progress in market test
Azerbaijan stands for normalizing relations with Armenia in post-conflict period based on int'l law - FM
Turkey reveals cargo traffic with Netherlands for 8M2021
Master plans for Zangilan, Gubadli, Kalbajar and Lachin being prepared, will be done without taking any loans - Azerbaijani president
Khudaferin Bridge is proof of talent of Azerbaijani people - President Ilham Aliyev (VIDEO)
Physical gas flows, nominations at TAP’s interconnections
Great leader Heydar Aliyev returned to power at request of the people, then threat of losing independence again was prevented - president
Azerbaijan boosts gas exports
People of Azerbaijan tirelessly walked towards this victory - President Aliyev
Turkish FM tweets on marking Day of Restoration of Azerbaijan's Independence
Iranian currency rates for October 18
Kazakhstan sees rise in gold jewelry price
IRICA shares data on Iran’s export to neighboring countries
Azerbaijan gives update on mine clearance work on its liberated lands
Azerbaijan calls for urgent interim measures against Armenia
Bank of Georgia allocates funds to back project at local construction company
In villages of Fuzuli, each house will have at least 12 acres of land - president
Azerbaijani First VP Mehriban Aliyeva shares post related to October 18 - Independence Restoration Day on Instagram (PHOTO)
Banks to start connecting Mir cards to Google Pay from October 26
Kazakhstan reveals main objectives of national agro-industrial complex project until 2025
Qatari companies might participate in restoration of Azerbaijan's liberated territories - FM
Gas price in Europe down to $980 per 1,000 cubic meters as trading opens
President Ilham Aliyev receives Turkish minister of labor and social security
President Ilham Aliyev receives delegation led by Deputy Prime Minister of State of Qatar
When I shared news of liberation of Fuzuli, whole world saw that we would complete our glorious mission - Azerbaijani president (FULL SPEECH)
Israel and UAE nearing free trade agreement
Coal’s share in Other non-OECD Asia’s generation mix to reach 50% in 2050
Iran increases raw steel exports
Azerbaijan prevents attempt to violate maritime state border (PHOTO)
Azerbaijani Cabinet of Ministers to soon issue proposals on raising social payments
Azerbaijan’s shares data on GDP growth for 9M2021
Uzbekistan, Tajikistan resume bus transportation
Iran's IRENEX discloses sales of Persian Gulf Fajr Energy Company
Georgia shares data on COVID-19 cases for October 18
Iran's Energy Exchange announces products to be on sale on October 18
Our historic victory - beginning of new era in development of both our country, region as whole - President Aliyev
It is far more difficult to preserve independence than to gain it - President Aliyev
All news