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Budapest hotels did better business during last year's F1 Grand Prix

Occupancy at Budapest hotels during this year's Hungarian Formula One Grand Prix fell 1.7% from last year's event, while revenue per available room (REVPAR) dropped 11.9%, the Hungarian hotel association MszSz said.

The association attributed part of the decline in REVPAR to a 5% firmer forint. Room rates in Budapest are calculated in euros.

Occupancy during the three-day race was still up 15.9% over the daily average for July, while REVPAR was 104.2% over the average.

The association compared data from July 29-31, 2011, with that from July 30-August 1, 2010.