16.Jan .2021 15:00

Tourism Will Not Reach the Pre-Pandemic Levels Until 2023 – Cushman & Wakefield Georgia

Tourism Will Not Reach the Pre-Pandemic Levels Until 2023 – Cushman & Wakefield Georgia
views 285
Back

Consulting company Cushman & Wakefield Georgia published a report. According to the publication, tourism will not reach the pre-pandemic levels until 2023, while the recovery in the hospitality market is directly related to the effective distribution of the vaccine and in line with this – recovery of the crisis of confidence that the pandemic engendered. “Research suggests that globally, economy hotels are faster to recover than upper-upscale and luxury ones”, - the publication reads.
 
The consulting company cannot predict how it will be in the Tbilisi case: “due to the lack of market transparency, it is hard to project what share of Tbilisi hotels will reopen once tourist inflow is reinstated”. Hotels Cushman & Wakefield Georgia notes that hotels here and globally will have to adapt to the new requirements of the end-users. “Reduction of contact points, integration of high-tech, flexibility towards refunds and cancellation policies – these are some of the requirements that guests will likely have of hotels going forward. Hotels will have to fare with increased operational costs as well”, the report reads.
 
According to the publication, finally, at the end of 2019, there were 25 branded facilities in the pipeline. Of these 6 were supposed to open in 2020 and future 5 in 2021. “We project that the pipeline will be on hold until international travel recovery”, Cushman & Wakefield Georgia notes in the report.