Earnings of Armenian Hotels Surged by 48.9%

The earnings of Armenian hotels last year surged by 48.9% from the previous year to 33.9 billion drams (or $70.7 million) according to the National Statistical Service (NSS). It said at the end of 2015 there were 523 hotels in the country with a total of 4920 staff members.

Hotels in the capital Yerevan accounted for 86.8% of the combined earnings. More precisely, their earnings last year increased by 59.8% to 29.4 billion drams ($61.3 million), up from 18.1 billion drams ($38.4 million) at the end of 2014.

Apart from Yerevan, the hotels in Kotayk, Tavush and Syumik regions were among hotels with highest earnings in 2015.

Thus, hotels in Kotayk region, which has several popular tourism destinations, including the Tsakhkadzor ski resort, earned 1.579 billion drams (about $3.3 million), down 2.5% from the year before. The region has 53 hotels with 421 employees.

In Tavush region, where another popular resort Dilijan has 48 hotels with 209 staff members. Their earnings last year dropped by 12.4% to 897.5 million drams (about $1.9 million). In Syunik region, whose popularity is largely secured by the world’s longest reversible tramway (5.7 km) transporting visitors to the medieval monastery of Tatev, is home to 33 hotels with 221 employees. Their earnings last year grew by 3.1 % to 590.7 million drams ($1.2 million).

According to some estimates, the number of foreign tourists visiting Armenia last year fell by 1% from 2014 to 1,192,120 people. During the first 9 months of 2016 Armenia was visited by 969,010 tourists, a 3.6% growth from the same time span of 2015.

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