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Cushman & Wakefield: Additional 57 000 Beds Appeared in Georgia’s Hotel Industry in 2016

In 2016 additional 57 000 beds appeared in Georgia’s hotel industry and year on year growth made up 20%, the report by Cushman&wakefield consulting company reads.

At the same time, a major part of hotels are mainly located in Tbilisi and Batumi. The report also covers a growing demand in resort zones, including in Gudauri and Goderdzi ski resort.

A major part of demand for hotel suites is recorded for international visitors, of which 37% stay at hotels for at least one night.

Because of instable economic environment in 2016, after GEL exchange rate depreciation, inauguration  of Rixos and Sheraton Tbilisi hotels was postponed for 2017, the report reads.

Because of seasonal factors, the company expects a slowdown in demand in the first quarter, but forecasts a considerable upturn throughout the year thanks to increased inflow of international visitors.

In December 2016, demand for hotels in Tbilisi rose by 8% year on year.