With only marginal growth in the number of new hotels being built in Hungary in 2019, strong current value growth could be mostly attributed to the increasing room rates being charged in parallel with more intense traffic during peak seasons. This trend is also predicted to continue into the forecast period, although there will be some improvement in the number of hotels emerging with budget hotels in particular set to experience a doubling in number.
A new guest tracking and reporting system was introduced by the Hungarian Parliament in November 2018 called the National Tourism Data Supply Centre. This system aims to reduce the rate of undeclared sales and make the lodging landscape more transparent.
Online bookings continued to dominate value sales of lodging in 2019, with noticeable ongoing strong growth through hotels and short-term rentals in particular, while other lodging types saw marginally higher offline sales. The increasing popularity of using online travel intermediaries continues to drive this trend but dependency on third parties is a growing concern for Hungarian lodging operators as the relevance of online platforms is likely to increase over the forecast period.
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Discover the latest market trends and uncover sources of future market growth for the Lodging industry in Hungary with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Travel And Tourism market research database.