Following the strong supply growth in 2016, hotel development activity is expected to remain robust in coming quarters. Due to delays in delivery, however, many projects shift into next year.
In H1 2017, total guest arrivals grew by 10.1%, y-o-y; significantly above the average of the previous seven years. Budapest outperformed the national average with its 10.4% growth, y-o-y.
Hotel KPI figures have shown improvement on last year, ranking Budapest among the top performing capitals in CEE in terms of RevPar and ADR. In Budapest, ADR has risen by 11.8%, y-o-y, averaging EUR 115, the highest level on record. Occupancy notched up by 4.9 pps, to 76.0%. RevPAR increased by 20.0%, y-o-y.