BDO: Optimism on the rise in Hungarian hotel industry

Hotels

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As Budapest undergoes the preparation and realization of 600-800 five-star and 1,000-2,000 four-star hotel investment projects, the current 19,000-room capacity of Budapest hotels is expected to rise by 5-10%, BDO Hungary said today in a press statement.

An increasing number of hotels, however, are experiencing the migration of staff abroad, while sources for product development and equipment replacement are declining, the statement added.

Nonetheless, the European as well as the Hungarian markets are currently characterized by optimism in terms of transactions and developments within the industry, BDO said.

The interest of foreign investors is again on the rise in Hungary and a number of investment projects are expected to be resumed or launched this year.

An improving tendency was noted among hotels outside of the capital as well, with wellness and healthcare hotels fueling the market, the statement said.

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