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Hotel occupancy increases in all Georgian regions

Business Materials 16 January 2021 05:01
Hotel occupancy increases in all Georgian regions

BAKU, Azerbaijan, Jan. 16

By Tamilla Mammadova – Trend:

Hotel occupancy increased in all Georgian regions compared to last week, Trend reports via the TBC Capital updated report.

In particular, the occupancy rate in January was 3 percent in seaside hotels, 3 percent in Tbilisi, and 12 percent in Kakheti, while in other regions the highest rate of 15 percent was registered.

The report shows that the hotels in Kakheti increased the occupancy on weekends compared to last week while in Tbilisi and seaside hotels their occupancy decreased, in other regions no changes were observed.

In December the biggest discounts in the hotels were observed in other regions followed by Tbilisi and Kakheti.

The seaside hotels offered customers a relatively low discount.

The publication published by Cushman & Wakefield Georgia reads, that the state subsidy program provided a much-needed boost to the real estate market, but the program finished in 2020. However, the program is no longer active in 2021. During the last few weeks of 2020, developers had been openly asking for the government to continue subsidizing interest on mortgages into 2021 as well, however, no budgetary provision has been made for such a decision.

Cushman & Wakefield Georgia considers that the first quarter of 2021 at least will be characterized by downward tendencies.

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