80% of Hotels in Kakheti Region Lower Tariffs - Cushman & Wakefield Georgia
Eighty percent (80%) of accommodation facilities in the Kakheti Region have lowered prices. Only 18% of the facilities have maintained the old tariffs.
Cushman & Wakefield Georgia conducted the research for the third and fourth weeks of June and the activity constituted 85%. As noted by the inquired hoteliers, the number of rentals at Kakheti-based accommodation facilities declined by 37%, while at individual facilities tariffs decreased by 15%-60%.
According to the respondents, in June the hotels’ workload radically differs from each other. In the mentioned period, the workload ranged from 25% to 80%, however, the average indicator was seen in the third and fourth weeks of June – 45%. Despite the high demand, the 2020 indicators are lower compared to the high season, as compared to the same period of 2019. Last year, the average workload of hotels in the Kakheti Region reached 65% in high seasons, and 28% in the low season.
The regions recorded 231 accommodation facilities in February 2020, with 1,920 suites and 4,589 beds. A total of 15 hotels opened in Kakheti in 2019 with 512 suites and 1,039 beds (up 23%). The ratio of new suites in total quantity was 27%. Noteworthy that 21 hotel construction licenses were issued in Kakheti Region in 2019.
On the whole, the previous years recorded a growing trend of issuing licenses. Furthermore, the number of finished hotel projects also grows. Namely, 5 new hotels were finished in 2018 and 12 new hotels were finished in 2019.