Baku hotels earned more than 314 million mantas in 2023

16:26 - 6.03.2024


March 6, Fineko/abc.az. Last year, the Baku hotels earned 314.117 million manats (86.319 million manats, or 37.9% more versus 2022 – 227.798 million manats), ABC.AZ reports with reference to the State Statistics Committee.

Hotel expenses reached 222.74 million mantas (52.7 million manats or 30.5% more than a year earlier).

Last year, hotels’ service costs amounted to 170.667 million manats. Considering that revenues exceeded expenses, it becomes clear that Baku hotels completed 2023 with profit of 91.376 million mantas (34.245 million manats, or 59.9% more against 2022). The profit of Baku hotels for 2022 totaled 57.1 million manats.