3-5 star Mongolian hotels see remarkable increase in revenues - News.MN

3-5 star Mongolian hotels see remarkable increase in revenues

3-5 star Mongolian hotels see remarkable increase in revenues

The revenues of hotels rated between 3 to 5 stars in Mongolia has risen by more than MNT 31.6 billion or 89.3 percent till the end of April 2022. As for regular hotels in Mongolia, the revenue increased to MNT 31.7 billion or 79.4 percent.

Therefore, hotel industry generated MNT 99 billion in revenue in the first four months of 2022.

Mongolia has its own unique culture, customs, and way of life that appears in its tourism sector. Though Mongolia has expanse, broad lands with rich history and cultural landscape, the tourism sector is not developing at a high level due to inadequate infrastructure, unprofessional services, lack of communications, insufficient investment, and seasonal effects.

Due to the coronavirus pandemic, Mongolia went under strict regulation since 26th February of 2020 and most of the organizations and companies were closed because of lockdown. Thereof, most of the business sectors became stagnant and mainly affected tourism field because of this lockdown process.

It means, 88 thousand employment opportunity affected directly, and individuals and companies which are connected with tourism field such as motels, hotels, resorts, camps, museums, cinema theaters, entertainment service places, art shows, events and activities, Naadam festivals and its organizing companies, transportation service individuals and companies faced following direct loss.

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