Strong September in Budapest's Hotels

In the first nine months of 2008, the room occupancy rate for three-, four- and five-star hotels was 60%. At current prices, gross room revenue declined by 4%, while the number of tourism nights decreased by 2%.

 During this period, gross ARR (Average
Room Rate) was HUF 17 400 (EUR 70). This index was outstandingly high (HUF 36 400 i.e. EUR
147) in the five-star hotels of Budapest. Four-star hotels of
Budapest as well as four- and five-star hotels of rural areas, on
average, enforced room rates of HUF 13 200-17 300 (EUR 53–70);
while the surveyed three-star establishments had average room rates
of HUF 8700-11 100 (EUR 35–45).

Average daily REVPAR (revenue per
available room) was gross HUF 10 400. The highest (HUF 24 400) amount was achieved by the
five-star hotels of Budapest, the lowest (HUF 4600) amount was
reported by the three-star establishments of Western Hungary.

On the whole, gross room revenue
decreased by 4% at current prices. Increases were registered by the hotels operating on the Balaton
lakeshore and four- and five-star hotels in Eastern Hungary, while
the three-star establishments of Western Hungary experienced a
decline.

In January-September 2008, the number
of tourism nights decreased by 2% in the observed units compared with the same period a year
ago. Three-star hotels at Lake Balaton and five- or four-star hotels
in Western Hungary were characterized by a growing number of tourism
nights. In other hotels the number of tourism nights decreased or was
unchanged. In the observed period, all hotel categories of Budapest
experienced occupancy rates over 62%, while rural hotels had rates of
47-65%.

During the whole period, considering
the average room rate May, from the aspect of occupancy rate August was the strongest month, with
the exception of hotels operating in Budapest, where the occupancy
rate was highest in September.

The forint was weak in the first three
months of this year, and was strong in the summer. The exchange rate
fluctuated between HUF 229 and 266 / Euro.