Hotel development slows down in the region

Two new hotels will open its gates in Budapest; the Expo Congress Hotel in Kőbánya and the Eurostars Hotel located at the First Site complex.

However, not much can be carried out just like in the Central and Eastern European region where a number of development has been stopped. The performance of the hotels in the capitals of the Central and Eastern European region sours since the summer of 2008. In the first quarter of this year, the occupation of the hotel's average daily room rate (ADR, average daily rate) had been further decreased. In the first three months of 2009, hotels in Prague reported the decrease of British and American private customers. Similarly, the average daily room rate declined in all three Central European capitals at the beginning of 2009 – reports Világgazdaság Online.