In 2023, Shusha hotels generated revenue of AZN5.2m ($3.1m), Azernews reports, citing the State Statistics Committee's report.

This represents a significant increase of AZN2.4m ($1.4m) or 68.2% compared to the previous year. The revenue was obtained from the sale of numbers amounting to AZN2.2m ($1.3m), catering services contributing AZN2.8m ($1.7m), and other services bringing in AZN51.7 K ($30.4K).

However, the hotel expenses amounted to AZN7.6m ($4.5m), which is significantly higher by AZN4.8m ($2.8m) or 2.8 times compared to the previous year.

The breakdown of expenses includes AZN1.7m ($1m) for the purchase of goods for the preparation of drinks and meals, AZN389.3K ($229K) for all types of fuel and energy expenses, AZN44K ($25.9K) for water expenses, AZN2.4m ($1.4m) for salary expenses, AZN137.7K ($81K) for rental payments, AZN200.1K ($117.7K) for the current repair of basic assets, AZN1.3m ($0.8m) for taxes paid to the budget, and AZN1.3m ($0.8m) for other expenses.

As a result of the netting of expenses against revenues, Shusha Hotels incurred a loss of AZN2.5m ($1.5m). However, in 2022, a profit of AZN289.6K ($170K) was achieved.

Overall, the number of employees in the region's hotels was 104 people, increasing by 13 people (14.3%) over the past year. The number of individuals accommodated in the hotels of the region in 2023 was 18,537 people, with 15,622 of them being Azerbaijani citizens and 2,735 being foreign citizens. Compared to previous years, the total number of accommodated individuals increased by 1,717 people (10.3%), Azerbaijani citizens by 1,507 people (10.7%), and foreign citizens by 210 people (8.3%).

The total number of overnight stays was 19,023, significantly higher by 4,063 overnight stays (27.2%) compared to 2022. Out of these, 16,158 were attributed to Azerbaijani citizens and 2,865 to foreign citizens.
Note that last year, there were 2 hotels and hotel-type facilities, and 3 hotel and hotel-type objects in the region. The number of rooms was 137, and the number of places (single occupancy) was 237.