Analysis: Hungarian hotel revenues up 10% in Q1
Revenues of Hungarian hospitality facilities were up 10% in the first quarter compared to the same period a year earlier, Bisnode said in an analysis released today citing data from the Hungarian Central Statistical Office (KSH).
Although the number of hospitality facilities only grew by 1% in March as compared to the same month a year earlier, and the increase of revenues has slowed, the popularity of Hungary as a destination for foreigners, especially Europeans, is on the rise, and the sector is expected to end the year in the black, Bisnode said.
The number of foreign guests grew by 9.6% in the first quarter compared to the same period last year, while the number of domestic guests was up 11.8% in the period, Bisnode said. The former dropped from the previous year’s 10.9% growth, while the latter grew from 8.4%, Bisnode noted.
The number of guest nights also grew with foreign nights up 9.1% in the first quarter and domestic nights up 13.6%, which means that in three months, guests spent more than 4.3 million nights in the country, Bisnode said.
Foreign guests spending nights in Hungary arrive predominantly from European countries, with precisely 84% of visitors to the country arriving from Europe. While Budapest is the most popular destination for foreign tourists, Lake Balaton is the most preferred destination for Hungarians, Bisnode said.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.