June 2019: Average Hotel Prices & Hotel Price Index in Georgia
In Georgia, the average cost of a room1 in a 3-star hotel was 137 GEL per night in June 2019. While the average cost of a room in a 4-star hotel in Georgia was 232 GEL per night and the average cost of a room in a guesthouse2 was 76 GEL per night.
The average cost of a room in a 5-star hotel in Georgia in June 2019 was 448 GEL per night. In Tbilisi, the average price was 618 GEL, followed by Samtskhe-Javakheti - 417 GEL, Adjara – 384 GEL, and Kakheti - 369 GEL.
Hotel Price Index
In June 2019, in Georgia the hotel price index3 increased by 1.5% compared to May 2019. The 3-star, 4-star and 5-star hotel price index increased by 3.6%, while for guesthouses, the price index decreased by 0.1%.
In June 2019, compared to May 2019, the number of international travelers’ trips in Georgia increased by 20.8%, while among the international travelers, the proportion who stayed in Georgia for 24 hours or more (classified as tourists) increased by 11.1%4.
In June 2019, compared to June 2018, hotel prices in Georgia decreased by 2.9%, this was mainly due to the prices of 3*, 4*,5* hotels. The prices of 3*, 4*, 5* hotels decreasing by 7.3%, while the prices of guesthouses increased by 9.9%.
In June 2019, compared to June 2018, the number of international travelers’ trips in Georgia increased by 19.9%, and among the international travelers, the proportion who stayed in Georgia for 24 hours or more (classified as tourists) increased by 18%.
Accommodation Market in Georgia According to Booking.com Website
During June 2019, up to 10000 accommodations were available on booking.com website in Georgia. The prices of the majority of registered accommodation ranged between 50-150 GEL per night (57.5%), while only 4.1% of accommodation prices were above 400 GEL.
Among the accommodation registered on booking. com in Georgia, the majority were in Tbilisi (38.5%) and Batumi (29.1%). These were followed by Kobuleti (5.1%), Kutaisi (4.8%), Borjomi (2.5%), Bakuriani (2.4%) and Mestia (2.1%).
According to the property type, the most registered accommodation in Georgia on booking.com was apartments (49.1%), followed by guesthouses (21.2%) and hotels (17.6%).
Among the hotels in Georgia registered on booking.com, more than half were unrated (56.7%), while 23.5% of hotels were 3-star hotels, 15.5% - 4-star hotels, 2.2% - 5-star hotels.
1 The results are based on the surveying of standard double hotel room prices of 3, 4, 5-star hotels and guesthouses in 10 regions of Georgia. Hotels were chosen arbitrarily according to random sampling principle. The study contains 71% (312) of all 3, 4 and 5-star hotels and 25% (456 guesthouses) of all guesthouses registered on www.booking.com The 3, 4 and 5-star hotel price data was collected by contacting hotels individually, while the prices of guesthouses were taken from booking.com. The average prices are arithmetic mean of standard double hotel room prices.
2 Guesthouse: a type of accommodation that is characterized by having a small number of rooms and services are usually offered by the resident family.
3 The calculation of the hotel price index is based on the recommendations given by the International Monetary Fund (IMF). The elementary aggregate price index is calculated by Jevons index (Consumer Price Index Manual-Theory and Practice (2004), Practical Guide to Producing Consumer Price Indices (2009)).
4 Source: GNTA
5 * Preliminary results