European tourism has increased, and domestic hotels are doing well even with increased room prices

By: Trademagazin Date: 2022. 08. 04. 08:53

In the first five months of the year, Europe’s tourist traffic exceeded the previous year’s level by 350 percent, according to the latest data from the United Nations World Tourism Organization (UNWTO). Neither the economic problems, nor the chaos at the airports, nor the uncertainty due to the war in Ukraine can restrain the demand for travel, which is well indicated by the fact that the average room occupancy rate on the continent rose to 70 percent by May.

“Domestic hotels also operate with a significant occupancy rate and at previously unseen price levels, which also enables them to reflect their increased costs in their prices. Primarily thanks to this year’s increases, domestic hotel room rates already exceeded the May 2019 level by 22 percent in May, including 13 percent in Budapest and 28 percent in the Balaton region during the period under review.”