The average Tbilisi short-let earns less than people assume

AirROI's Tbilisi report, covering August 2025 to July 2026 and refreshed in mid-September, puts the average daily rate at USD 57 and occupancy at 38.9%, producing average annual revenue of about USD 5,438 per listing and revenue per available night of roughly USD 22. There were 6,095 active listings in the set. August is the strongest month; February the weakest.

Half of any short-let market earns below the average and a small top tier pulls the mean up. Location, photographs, review count and how actively pricing is managed separate the two halves. The figure above is the right number to test a plan against, not the number to build one on: if a projection only works assuming well-above-average performance from day one, it is a projection about a hypothetical operator rather than about the flat.

The listing count rose about 17.7% over the year. More supply at a similar level of demand shows up first in occupancy and then in nightly rate, and that pressure is consistent with the softening in asking rents seen elsewhere in the Tbilisi market. For a landlord weighing options, the short-let side is where competition is currently increasing fastest.

Set the short-let figure against a long-term let on the same flat, then take the costs off each honestly: cleaning, linen, platform commission, utilities and the management time a short let consumes, against a long tenancy's lower gross and lower workload. Gross yields on long-term letting in Tbilisi average around 7.2%, before any of those costs. Whichever side wins on your flat, it should win on numbers you have put in yourself rather than on a headline nightly rate.