Hotel development in Hungary rising

The number of tourists visiting Hungary in the first half of 2018 reached 5.5 million. The crowds are attracting new investors, developers and hotel operators who see growing potential in the country. There are currently 18 hotels in the 3 to 5-star range under construction, with most of them located in Budapest, according to CBRE. Reporting from a recent hotel conference in the city, BBJ writes that Mellow Mood is nearing completion of its Parisi Udvar Hotel project (part of the Hyatt Unbond Collection) while Bedori Investment will open Meininger Hotel Budapest in March. These are to be followed InterCity Hotel Budapest, which is being developed by Deutsche Hospitality with B&L Group. BBJ cited the TopHotelProjects with other numbers from around CEE, writing that there are 68 projects underway in Austria, 53 in Poland and 25 in Croatia.