BBJ: Let’s start with the basics: how has the first half of the year been for the hotel? Did you get much of a boost from the Champions League final?

Stephan Interthal: The recent UEFA Champions League Final provided the hotel with an extraordinary boost. The revenue figures achieved over that weekend will be remembered for a very long time, if not forever. The most exciting aspect, however, was the vibrant atmosphere, the energy and the vast number of visitors coming to the capital. It culminated in a fantastic football match between two outstanding teams that fully deserved their place in the final. Overall, it was an exceptionally successful weekend from a commercial perspective, and both my team and I thoroughly enjoyed the experience.

BBJ: And what does H2 look like? We know that you will be busy around the F1 weekend and at Christmas, but what about the remainder? Now that there is a tentative agreement between the United States and Iran, do you anticipate an uptick in travel from the Middle East?

SI: Even without the significant boost from the Champions League Final, the first half of the year has been successful, demonstrating strong organic growth compared to the first six months of 2025. For the first time after many years, the hotel underwent no room renovations during the first quarter, allowing us to operate and sell our full inventory of 350 rooms and suites.

In addition, the Food and Beverage Department performed exceptionally well, particularly the banquet and catering division. The six-month financial results are well ahead of both last year’s performance and budget expectations.

There was a brief decline in business from Israel following the outbreak of geopolitical tensions involving the United States and Iran, which lasted for several weeks. However, once direct flights between Tel Aviv and Hungary resumed, clients returned almost immediately, resulting in an acceptable overall impact.

BBJ: We have seen a return of direct flights from American Airlines (Philadelphia) and Air Canada (Toronto). Do you expect this to lead to an increase in tourists and business travelers from North America?

SI: The return of direct flights operated by American Airlines and Air Canada is extremely positive for Budapest as a destination. These services were suspended following the outbreak of COVID-19, so we are delighted to see both carriers return to the market. We are also hopeful that LOT Polish Airlines may resume its daily services to New York and Chicago in the foreseeable future. We are pleased to say that the hotel has directly benefited from the Air Canada route, having successfully secured the airline crew accommodation contract for the current season.

BBJ: There seems to be a lot more renewed optimism around Hungary since the general election brought in a new government for the first time in 16 years. Do you anticipate an increase in visitors as a result?

SI: As a general principle, the hotel avoids commenting on political or religious matters. However, it is fair to say that the recent change in government after many years has been perceived positively by many observers. It appears to have favorably influenced international perceptions and sentiment towards Budapest and Hungary. We are hopeful that this positive momentum will continue and contribute to sustained interest in the destination over both the short and long term.

BBJ: How is your general operating environment? Kempinski is renowned for the long service of its staff, but are you able to find new starters in sufficient numbers and quality?

SI: Our operating environment remains positive. Thanks to the hotel’s strong reputation as an “employer of choice” and its high staff-retention rates, we continue to attract high-quality talent in sufficient numbers. The hotel currently employs approximately 20 colleagues from the Philippines. International recruitment has become increasingly important for the hospitality industry, as the local labor market often lacks the workforce capacity required to meet operational demands. These international team members do not replace local employees; rather, they help address labor shortages and contribute significantly to maintaining the high service standards our guests expect.

BBJ: You are famous for overseeing renovations at your hotels and, true to form, ÉS Bistro and NOBU have reopened following the latest facelift. Could you talk us through this? How much was the investment, what was the rationale behind it, and what are your expectations for the future?

SI: Our latest major renovation program was completed at the end of March. The hotel fully upgraded all back-of-house and kitchen facilities, an essential investment after three decades of operation. Most importantly, we completed a full renovation of our signature restaurant, ÉS Bisztró. The venue now offers a brighter, more contemporary atmosphere and has benefited from a significant architectural and design enhancement. Since reopening, we have received excellent feedback on its refreshed and elevated “Viennese Hungarian” culinary concept.

At the same time, our partner NOBU made a substantial investment in a comprehensive interior redesign and reopened at the end of May. The result is exceptional, and we are grateful to have such a committed partner that continues to invest in the long-term success of its restaurant.

Earlier this year, we also enhanced Blue Fox The Bar with new furnishings and décor to elevate the guest experience. As we enter the second half of the year, the hotel is proud to present a fully revitalized “Gastronomic Quarter Downtown Budapest.”

This article was first published in the Budapest Business Journal print issue of July 3, 2026.