Comparative Analysis of Hotel Performance in Budapest and its Competitors in the Central European Market

Molnár Csenge Anna (2022) Comparative Analysis of Hotel Performance in Budapest and its Competitors in the Central European Market. Kereskedelmi, Vendéglátóipari és Idegenforgalmi Kar. (Kéziratban)

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Absztrakt (kivonat)

With the appearance of the Covid-19 pandemic, every aspect of our lives has changed. When the first wave emerged in more parts of the world, countries initially began dealing with the virus in a way that most affected the tourism and hospitality sector. Their industry was completely shut down by the border closures and lockdowns imposed in countries. This study aims to highlight the effects of the Covid-19 pandemic on the tourism and hospitality sector. The focus is Budapest and its competitive set of close regional capitals, Prague, Vienna, and Warsaw that also hold many similar aspects for analysing. The research methodology includes interviews and big data analyses. The research was supported by the STR Share Centre, which provided hotel and tourism data for the cities of the research, for the last decade. It helped the comparison and to predict how the respective cities' hotel industry will recover from the economic crisis. Being able to use big data is a huge advantage as it can provide a deeper and more analytical study. As Charles Darwin said, the one most adaptable to change is the one that survives. Big data in the hotel industry helps to understand more, so too may fear less. Besides, interviews were conducted with professionals in the hotel industry, general managers of chain hotels in Budapest, for deeper understanding. Research findings show how Budapest and its competitors in the region have reacted to the pandemic. Based on the analysis of the key performance indicators such as occupancy rate, average daily rate, RevPar, demand and supply numbers, which were compared to the previous 10-12 years, the comparison of the rules and regulations that were applied in different cities during the waves of the pandemic, and information gathered from professionals through interviews, provided a better understanding of the current situation and predicting the future of the industry both in Budapest and for other destinations in the region. The study finds that Budapest’s rise in numbers compared to its competitors is not solely based on the pandemic and its effects but on many conscious decisions and projects. However, the research also states that the world and the travel business are facing uncertain times where changes are frequent, sudden, and unexpected. The sector is faced with problems but at the same time great opportunities, as well. It affects the analysed competition between Budapest and the other three Central-Eastern European capitals as well as their pipeline projects which can indicate their future in the competitor set.

Intézmény

Budapesti Gazdasági Egyetem

Kar

Kereskedelmi, Vendéglátóipari és Idegenforgalmi Kar

Tanszék

Vendéglátás Tanszék

Tudományterület/tudományág

NEM RÉSZLETEZETT

Szak

Turizmus-vendéglátás

Mű típusa:	TDK dolgozat
Kulcsszavak:	analysis, data, hotel, market, performance
SWORD Depositor:	Archive User
Felhasználói azonosító szám (ID):	Archive User
Rekord készítés dátuma:	2023. Már. 23. 15:30
Utolsó módosítás:	2023. Már. 23. 15:30

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