Tbilisi tops the international Hotel Valuation Index 2012

HVS, the leading hotel service consulting company, has published the Hotel Valuation Index 2012 for Russia, the CIS, and Georgia.

According to the research results, Tbilisi hotel market has grown by 14 % in 2012 versus 1% in 2011. Tbilisi hotel market performance has been assessed as strong - they have enabled Tbilisi’s rise by three positions comparing with last year results. Most of the markets maintained their rankings with the exception of Tbilisi, which went up to seventh place, showing exceptionally good ratings.

“Improved operational performance Tbilisi allowed to climb into the top three markets by increase in value in 2012 (14%), from € 155.000 to € 177.000. Improvements in the economic environment and investment climate in Georgia, coupled with cancellation of the visa regime for EU, US, Canadian, and CIS countries’ citizens, assisted in developing the tourism industry”, – Hotel Valuation Index 2012 has noted.

HVS has forecast hotel values in Tbilisi to improve in the medium term, reaching approximately € 262.000 per room by 2017.

English translation by BSN

Adapted from Gruzija Online