Hotel sector reports significant revenue growth, increased occupancy rates
Nazrin Abdul
Read moreIn January-June 2024, the income of hotels and similar establishments surged by 26.9% compared to the same period in 2023, totaling 265.7 million manats, Azernews reports citing the State Statistics Committee.
60.7% of this revenue came from room rentals, 27.1% from catering services, 3.3% from health services, and 8.9% from other services.
During this period, hotels and similar establishments operated at 21.1% capacity on average, marking a significant increase from 16.6% in January-June 2023.
Notably, Shabran led with 49.1% occupancy, followed by Naftalan at 39.1%, Baku at 37.3%, and Gusar at 28.0%. Other cities and regions reported lower occupancy rates compared to the national average.
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