Gurian-Consulting Press Office - 2018-10-10

Hotel prices are falling in Georgia

pict_Hotel prices are falling in Georgia
  • In Georgia, the average cost of a room in a 3-star hotel was 147 GEL per night in August 2018. The most expensive 3-star hotels were in Samegrelo-Zemo Svaneti (177 GEL) and Adjara (164 GEL). The cheapest 3-star hotels were found in Kvemo Kartli (89 GEL) and Imereti (103 GEL).
  • The average cost of a room in a 4-star hotel in Georgia in August 2018 was 253 GEL per night. The most expensive 4-star hotels were found in Kakheti (299 GEL) and Samtskhe-Javakheti (274 GEL). The cheapest 4-star hotels were found in Samegrelo-Zemo Svaneti (155 GEL) and Imereti (233 GEL).
  • The average cost of a room in a 5-star hotel in Georgia in August 2018 was 455 GEL per night. In Tbilisi, the average price was 619 GEL, followed by Adjara (393 GEL), Samtskhe-Javakheti (383 GEL), and Kakheti (357 GEL).
  • In August 2018, the average cost of a room in a Guesthouse in Georgia was 74 GEL per night. The highest daily rates for bed and breakfast were found in Guria (138 GEL) and Kvemo Kartli (107 GEL). The cheapest guest rooms in August in Georgia were found in Kakheti (61 GEL), Imereti and Shida Kartli (62 GEL).
  • On Airbnb Georgia, the average cost of an apartment in August was US$45. On Airbnb in Georgia, the most visited city destinations are respectively: Tbilisi (42 USD), Batumi (46 USD), Kazbegi (50 USD), Mtskheta (37 USD), Gudauri (89 USD), Kutaisi (31 USD), Sighnaghi (27 USD), Borjomi (32 USD) and Kobuleti (46 USD).

Hotel Price Index

  • In August 2018, the hotel price index increased by 0.01% compared to July 2018. Daily rates for standard double hotel rooms increased in Guria (+7.6%) and Imereti (+1.4%).
  • In the ten regions of Georgia plus Tbilisi, in August 2018, compared to July 2017, hotel prices fell in six of them. Prices fell the most in Samtskhe-Javakheti and Mtskheta-Mtianeti, -1.6% and -1.3% respectively.
  • The price index for 3-star, 4-star and 5-star hotels fell by 0.9% in August 2018 compared to July 2018. In these types of hotels, the largest price decreases were recorded in Mtskheta-Mtianeti (4.1%) and Samtskhe-Javakheti (3.4%).
  • Prices in 3-star, 4-star and 5-star hotels increased only in Guria and Kakheti, by 18.4% and 0.1% respectively.
  • The room price index in Guesthouse increased by 0.7% in August 2018 compared to July 2018. In this type of accommodation, the highest price increases were recorded in Imereti (4.1%) and Adjara (2.2%). In this type of accommodation, prices fell the most in Kakheti and Shida-Kartli (-0.9%).

The results are based on the study of standard prices for double hotel rooms in 3, 4, 5 star hotels and Guesthouses in 10 regions of Georgia. Hotels were arbitrarily selected on the basis of random sampling. The study contains 71% (312) of 3, 4 and 5 star hotels and 25% (456 guest rooms) of Guesthouses registered on www.booking.com Price data for 3, 4 and 5 star hotels were collected by contacting individual hotels, while guest room prices were extracted from booking.com. Average prices are the arithmetic average of the standard prices of double hotel rooms.

Guesthouse: a type of accommodation characterized by a small number of rooms and services are generally offered directly by the Manager.

Source: National Tourism Administration of Georgia

The calculation of the hotel price index is based on the recommendations of the International Monetary Fund (IMF). The index is calculated by the Jevons Consumer Price Index Manual-Theory and Practice (2004), Practical Guide to Producing Consumer Price Indices (2009).

1€ = 3 laris  / 1$ = 2.62 laris

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