The impacts of Covid-19 on Budapest's other profit-oriented accommodation market

Mátrai Dóra Kinga (2022) The impacts of Covid-19 on Budapest's other profit-oriented accommodation market. Kereskedelmi, Vendéglátóipari és Idegenforgalmi Kar.

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Absztrakt (kivonat)

The study analyzes the impacts of Covid-19 on Budapest's other profit-oriented accommodation market.   To answer this question, several research methods were implemented in the paper, as written below, and four research questions were formed that will be answered during the results.  As primer research, structured interviews, in-depth interviews and observation were conducted.  Furthermore, as secondary research, narrative review and data analysis were applied.   Private individuals renting out their spare places as holiday rentals to tourists for the short term has a long history. With the advances in technology and other socio-demographic changes, the sharing economy formed, creating online platforms where suppliers can share their spare resources directly with the demand. The tourism industry saw this opportunity and soon developed several platforms, boosting the tourism sector worldwide. Airbnb was one of the first sharing portals created in 2008 that profoundly impacted the tourism sector. It is a modern version of holiday rentals, as it allows individuals to directly rent out their spare properties, rooms, or even beds to tourists for a low financial return. This concept was both favourable to tourists and property owners; therefore, it soon altered the whole accommodation industry.  In Hungary, the management of other-profit oriented accommodations increased at a rapid pace, with concentration mainly in Budapest. Since the sharing-economy-based accommodation service is a new business concept, there are no government regulations to oversee its operation, as it is neither private residential nor tourist housing. These establishments operate in the grey area, especially concerning taxation and employment, leading to a rapidly increasing number of illegal operations in Budapest. These unlawful activities not only harm the Hungarian economy but also provide them with a competitive advantage over those who comply with the legislation. Due to the illegal operations and other socio-economic challenges, the state of these accommodations is unsustainable; therefore, the Hungarian Government, since 2019, has been determined to whiten the market.  1. Has the pandemic affected the market of other profit-oriented accommodation establishments in Budapest?  Yes  In 2020, the Covid-19 pandemic had a profound impact on the other profit-oriented accommodation market, as well as on the entire tourism sector.   2. Does the pandemic have a minor impact on the other profit-oriented accommodation market than on other forms of accommodation establishments?  Yes As the regulation and requirements of the private and other establishments are less strict, they have the chance to mitigate the negative effects of the virus. Therefore, the pandemic impacted them the least, although all of their performance indicators decreased.  3. How did other profit-oriented accommodation establishment providers alter their activity during the pandemic?  Providers mainly temporarily or permanently stopped their operations as other profit-oriented accommodations and rented their properties for the long term. During the pandemic, those who continued their activities usually reduced their prices, adjusted their cancellation policy, and created a self-check-in process for guests to avoid personal contact.    4. Has Covid-19 eased the pre-existing socio-economic concerns about other profit-oriented accommodations in Budapest? Yes As the number of illegal operations decreased, the number of accommodations decreased, and owners switched to long-term tenants that generated fewer conflicts with the neighbours. With the decline of this accommodation market, several properties entered the real estate market, which partially caused the decrease in rent prices in Budapest.

Intézmény

Budapesti Gazdasági Egyetem

Kar

Kereskedelmi, Vendéglátóipari és Idegenforgalmi Kar

Tanszék

Turizmus Tanszék

Tudományterület/tudományág

NEM RÉSZLETEZETT

Szak

Turizmus-menedzsment

Konzulens(ek)

Mű típusa:	diplomadolgozat (NEM RÉSZLETEZETT)
Kulcsszavak:	21st Century, Budapest, Global economic crisis, private accommodation data, regulation, viruses
SWORD Depositor:	Archive User
Felhasználói azonosító szám (ID):	Archive User
Rekord készítés dátuma:	2022. Júl. 25. 17:13
Utolsó módosítás:	2022. Júl. 25. 17:13

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