Budapest hotels: below average

Commercial places of accommodation generated total gross revenues of HUF 209 billion in the January-October 2007 period, which is 4 per cent up, compared to the same period in 2006. Total revenues from accommodation amounted to HUF 121 billion. The price of accommodation was up by 5.,9 per cent. Three million foreign guests had spent a total of 9 million nights at commercial places of accommodation. While the number of guest was up by 1 per cent, the number of nights dropped by 2 per cent compared to 2006. Guests from the EU had spent 2 per cent less nights than in 2006. German guests who account for 30 per cent of all guest nights, spent 9 per cent less time in Hungary than in 2006. The number of nights spent in wellness hotels by foreign guests shows an increase of 6 per cent. 3,4 million domestic guests had spent a total of 8,7 million nights at commercial places of accommodation, which is 2 per cent more than in the same period in 2006. According to a KSH survey, the three, four and five star hotels operated at 61 per cent capacity in the first 11 months of the year. Net room revenues were down by 3 per cent compared to 2006. The number of nights spent in Budapest hotels was somewhat down compared to 2006. The gross average room rate was HUF 17 500 which translates to HUF14 500 net. Average revenue per room (REVPAR) was HUF 10 600 which translates to HUF 8 800 net. Budapest hotels showed stagnation or decline in the January-October period. Four and five star hotels in Balaton region and Eastern Hungary reported 5-10 per cent increase in turnover. Total revenues from accommodation in the Balaton region amounted to HUF 18 billion, which was 11 per cent more than in 2006, after several years of decline and stagnation. Room revenues from domestic guests were 14 per cent down in Budapest in January-October. The number of commercial places of accommodation was 2,113 on 32 October 2007. 761 of these were hotels. The total number of rooms available was up by 1,4 per cent compared to 2006.