Hotel tourism
The hotel and hospitality sector is once again regarded as an attractive development and investment option. Hungary, and particularly Budapest is seen as a popular tourist destination, with guest nights in the capital set to return to and exceed pre-pandemic levels.
Sustained Growth
Budapest’s popularity as a tourist destination remains robust, and it continues to be one of the most popular cities in the region, alongside Prague and Vienna, according to Róbert Székely, hospitality and leisure expert at the consultants Newmark VLK.
“Notably, in 2023, the RevPAR [revenue per available room] in Budapest was higher than in Prague, its main regional rival. According to forecasts, passenger traffic at Ferenc Liszt International Airport will return to pre-pandemic levels in 2024,” Székely says.
“The largest impact on tourism in Budapest could come from the state’s purchase of Ferenc Liszt International Airport. Meanwhile, hotel supply development is continuing: hotel brands such as Kimpton, St. Regis, Radisson Collection, Voco, Vignette Collection, Moxy, Mandarin Oriental, So, and Swissotel -just to name a few are entering the market, resulting in a differentiated supply,” he adds.
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