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Airbnb demand and the number of total nights booked in Tbilisi was up in 3Q24 - G&T

airbnb

Galt&Taggart published a report "Tourism Market Watch". According to the document, Airbnb demand was up 5.8% y/y to 195.4k total nights booked in Tbilisi in 3Q24. Meanwhile, total nights booked in Batumi grew 24.6% y/y to 168.6k in 3Q24. Airbnb prices were also up, with quarterly ADR standing at US$ 55 (+2.0% y/y) in Tbilisi and at US$ 55 (+1.5% y/y) in Batumi in 3Q24.

As of the document, hotel room stock maintained its growth trajectory in 9M24. The total number of hotels increased 1.0% YTD to 1,200 units in 9M24, while room stock was up 3.8% YTD to 36,742 rooms.

Hotel occupancy rates in Tbilisi slightly surpassed 2019 levels in 2Q24, driven by a reduction in ADRs to manage intensified competition and uncertainties in tourist demand tied to political instability in the city. Meanwhile, ADRs in the regions exceeded 2019 levels in 2Q24, while occupancy rates slightly lagged behind.

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