Study: Hungary’s Tourism can Recover by Spring
International real estate consultancy CBRE expects Hungarian tourism to recover from the COVID crisis by the spring of 2022. While rural regions continue to benefit from domestic tourism, the capital city of Budapest can score in terms of guest numbers with its top hotels.
According to the study by CBRE Group, the summer data indicates a positive trend in the domestic hotel industry. Hotel occupancy rates are already 90-95 percent of pre-pandemic levels and revenues have increased 10-12 percent in parallel with average room rates. Hotels outside Budapest have already reached the pre-corona crisis level thanks to strong domestic tourism.
Budapest’s tourism has been given a boost mainly by the European Football Championship. However, the recovery there is much slower than in the countryside, as almost 95 percent of the capital’s visitors are foreigners. In addition, conferences and congresses could not take place and tourist groups have been missing as well. The study adds, however, that many new hotels have opened in the capital this summer, even of top quality, so that the average room rates have already matched those of Lisbon and Barcelona.
Budapest’s tourism has been given a boost mainly by the European Football Championship. However, the recovery there is much slower than in the countryside, as almost 95 percent of the capital’s visitors are foreigners. In addition, conferences and congresses could not take place and tourist groups have been missing as well. The study adds, however, that many new hotels have opened in the capital this summer, even of top quality, so that the average room rates have already matched those of Lisbon and Barcelona.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
