Colliers International in Hungary reports that business trips have increased in the first half of 2011, with the number of guest night up by 3 percent compared to the same period in 2010. “Within this, hotels continued to perform above-average, with the number of guest nights rising by 7%. Four-star hotels performed particularly well, with growth exceeding 11%” – said Norbert Szircsák, researcher and valuation consultant at the real estate advisory firm.
The total nights spent by foreign visitors increased by 10 percent, a stat Colliers chalks up to the fact that Hungary held the rotating EU presidency role for that period. The average occupancy rate for hotels was 43%, with 5-star accommodations posting the best result (61%), followed by 4-star hotels (49%).
Total revenues of accommodation establishments increased by 6% at current prices, compared to the same period of 2010. Average room rates at three-to-five-star hotels in Budapest were between HUF 9,000 and HUF 31,000 in the January–June period.