Average Hotel Prices in Georgia & Hotel Price Index (February 2018)
By Sopho Basilidze | PMCG Research
In this bulletin, we discuss:
• Hotel prices1 in February across different regions of Georgia.
• The hotel price index2 in February 2018 compared to January 2018.
• Monthly hotel price changes during the November 2017-February 2018 period.
Average Hotel Prices
In February 2018, the average cost of a room in a 3-star hotel in Georgia was GEL 136 per night. The most expensive 3-star hotels in Georgia were in Mtskheta-Mtianeti region (exceeding the average price by 56%).
The average cost of a room in a 4-star hotel in Georgia in February 2018 was GEL 198 per night. The most expensive 4-star hotels were found in Mtskheta-Mtianeti region (exceeding the average price by 52%).
The average cost of a room in a 5-star hotel in Georgia in February 2018 was GEL 363. In Tbilisi, the average price was GEL 591, followed by Samtskhe-Javakheti-GEL 358, Kakheti-GEL 297, and Adjara-GEL 207.
In February 2018, the average cost of a room in a guesthouse in Georgia was GEL 86. The highest daily rates for guesthouses were found in Kvemo Kartli, Guria, Mtskheta-Mtianeti and Samegrelo-Zemo Svaneti regions.
Hotel Price Index
In February 2018, the hotel price index3 decreased by 2.2% compared to January 2018. The daily rates for standard double hotel rooms decreased significantly in Racha and Tbilisi, while the daily rates increased the most in Mtskheta-Mtianeti. The prices remained stable in the other regions.
In February 2018, compared to January 2018, the number of international travelers visiting Georgia decreased by 1%. Of these international travelers, the proportion who stayed in Georgia for 24 hours or more (classified as tourists) decreased by 6% compared to the previous month4. The insignificant change of prices in February can be linked to this fact.
The 3-star, 4-star and 5-star hotel price index decreased by 3.2% in February 2018 compared to January 2018. For these types of hotels, Tbilisi and Samtskhe-Javakheti regions recorded the steepest price decreases.
In guesthouses, the price index decreased insignificantly by 0.9%. In this type of accommodation, the biggest percentage price decrease for standard double rooms was recorded in Racha region.
Hotel price dynamics
November 2017-February 2018
During the period of November 2017- February 2018, a monthly hotel price increase was only recorded in December (9.3%). In addition, the highest daily rates for standard double hotel rooms during this period was recorded in December 2017.
The highest monthly decrease of price for standard double hotel rooms was recorded in January 2018 (6.4%). Looking at the monthly data, the lowest average price for standard double rooms in a 3-star hotel was recorded in January, while for the same type of room in 4-star and 5-star hotels the lowest rates were recorded in February 2018 and for guesthouses these rates were at their lowest in November 2017.
During these four months, prices for guesthouses were stable compared to prices for 3-star, 4-star and 5-star hotels.
