2,213 hotels and accomodation establishments operated in Georgia in 2022.
According to Sakstat, in 2022 this figure soared by 24.6% compared to 2021.
In Mindia Gadaev’s words, Director of the development company Rustavi Property and the founder of Ibis Styles Old Tbilisi PDP, the hotel business is not distinguished by the comparative profitability.
“The hotel business is not highly profitable; these are long-term projects, the return on investment is at least 10 years given the international standards. In Georgia 3-star hotels are mainly in demand, unfortunately, tourists prevail over foreigners arriving on business. As a rule, 5-star hotels are in demand in this segment,” - he explains.
Mindia Gadaev adds that the trend will likely to continue in the coming years.
According to PMC Research, in August 2023 the average price of 3-star hotels in Georgia was GEL 181 per night, 4-star hotels - GEL 278. The average price of guest houses is GEL 130.
