Hotel association: loss of revenue can be over 70 percent in Budapest and 20-40 percent in the countryside this year

By: Trademagazin editor Date: 2020. 09. 24. 10:16

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For most hotels in Budapest, the loss of revenue this year may be over 70 percent compared to 2019, while in the countryside it could be 20-40 percent, according to a representative study published by the Association of Hungarian Hotels and Restaurants on Wednesday.

The analysis sent to MTI highlighted that the differences between the hotels in the capital and in the countryside are similar in terms of the level of operating profit available. When asked by the hotel managers when the operating profit level in the hotel will be similar to 2019, the majority in Budapest marked 2023-2024, while in the countryside it is expected to be 2021-2022. (MTI)