WEHOST Revenues Fell by 65%

Revenues for Wehost were reduced by 65% ​​due to declining demand for apartment rentals.

According to the company's operating director, 95% of the company's revenue depended on tourists from abroad. Even at the expense of domestic tourism, this deficit can not be compensated.

"Our 95% of income came from foreign visitors and we are in a difficult situation in this regard. The revival at the expense of domestic tourism was present in August, the load in Batumi, for example, was 90%, but due to the epidemiological situation, we have canceled a number of bookings since September, "- explains Kote Anjaparidze.

According to him, the price of daily rental of apartments is significantly reduced. Among other factors, the depreciation of the Georgian lari also affected the decline in prices.

"During the pandemic, the price of renting apartments has decreased everywhere in the country. The daily rental price is reduced by 30-45%. There is a similar decrease in terms of reservations, ”Kote Anjaparidze explained.