The Latest Hotel Wonders Of Budapest – These Rooms Will Be Awaiting The Return Of Tourists

Tourism stagnation has put not only existing hotel owners and operators in a difficult position, but also many investors who, seeing the peaks of the past and previous year, have embarked on new hotel investment. For rudimentary projects, the redesign, while for others, the slide was one of the best solutions this year. Attila Hegedűs, Partner and Managing Director of BDO Magyarország Hotel Es Ingatlan Szolgáltató Kft said:

As of February 2020, there were more than 6,000 room development plans in the capital, which has now been significantly scaled down. Especially for openings between 2020 and 2021, slippage can wrap up as some developments, like Radisson Basilica, Jo & Joe, have stalled, while others, like the Luxury Collection Matild Palace, have slowed.

Attila Hegedűs

BDO Magyarország Hotel és Ingatlan Szolgáltató Kft., Partner, Managing Director

Attila has more than 20 years of experience in the hotel and tourism industry, during which time he has acquired extensive experience both in operation and in consulting. As an expert, several s

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Attila has more than 20 years of experience in the hotel and tourism industry, during which time he has acquired extensive experience both in operation and in consulting. As an expert, several s… next

Basically, the slippage is not necessarily due to the coronavirus, as in the case of a hotel, unplanned or unforeseen events (capacity changes, additional demands, both from the operator and the owner) can occur during the design phase or even during the construction, so the project will open later than planned and the budget will be higher. These are co-occurrences of hotel development, however, it cannot be said that only the peculiarities of high-end hotels, such occur in the economic sector.