The identities of the victims were not immediately released but they are presumed to be employees of the restaurant, according to the Georgian Interior Ministry.
The deaths are being treated as negligent manslaughter. Autopsies have been ordered to determine the actual cause of death.
Georgia is a former Soviet republic, with its western part lying on the coast of the Black Sea and its north nestled in the Caucasus Mountains.
Gudauri is a popular tourist destination for winter sports enthusiasts with a range of slopes suitable for skiers and snowboarders of all levels.
Gudauri is located in the Caucasus mountains in the Mtskheta-Mtianeti region at about 2200m above sea level and is about 120km north of Georgia’s capital, Tbilisi.
Georgia has been in the news this month after pro-EU protesters were hit with tear gas and water canons fired by police.
Dozens were left needing hospital treatment following the demonstrations in Tbilisi.