{"id":1004141814,"date":"2016-04-14T01:37:39","date_gmt":"2016-04-14T09:37:39","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004141814"},"modified":"2020-05-11T02:47:54","modified_gmt":"2020-05-11T10:47:54","slug":"ritz-carlton-enters-hungary-market","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ritz-carlton-enters-hungary-market\/","title":{"rendered":"Ritz-Carlton Enters Hungary Market"},"content":{"rendered":"<p>By Keith Loria, Contributing Editor<\/p>\n<div id=\"attachment_1004141815\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/12970901_10153985956405985_7393750319725774170_o.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004141815\" data-attachment-id=\"1004141815\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ritz-carlton-enters-hungary-market\/12970901_10153985956405985_7393750319725774170_o\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/12970901_10153985956405985_7393750319725774170_o.jpg\" data-orig-size=\"1200,800\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"12970901_10153985956405985_7393750319725774170_o\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/12970901_10153985956405985_7393750319725774170_o.jpg?w=1024\" class=\"wp-image-1004141815 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/12970901_10153985956405985_7393750319725774170_o.jpg\" alt=\"The Ritz-Carlton, Budapest\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/12970901_10153985956405985_7393750319725774170_o.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/12970901_10153985956405985_7393750319725774170_o.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/12970901_10153985956405985_7393750319725774170_o.jpg?resize=768,512 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/12970901_10153985956405985_7393750319725774170_o.jpg?resize=1024,683 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004141815\" class=\"wp-caption-text\">The Ritz-Carlton, Budapest<\/p><\/div>\n<p><strong>Budapest, Hungary<\/strong>\u2014<a href=\"https:\/\/www.ritzcarlton.com\/\" rel=\"nofollow\" target=\"_blank\">The Ritz-Carlton Hotel Co. LLC<\/a> entered the Hungary hospitality market with the opening of The Ritz-Carlton, Budapest, a luxury hotel featuring 170 elegantly appointed rooms and 30 suites.<\/p>\n<p>\u201cIt is an absolute privilege to open the first Ritz-Carlton hotel in Hungary,\u201d Herv\u00e9 Humler, The Ritz-Carlton president &amp; chief operations officer, said in a prepared release. \u201cThe Ritz-Carlton service standards are globally recognized and we\u2019re delighted to bring them to a new market. Budapest is an extraordinary city and perfectly placed to welcome the newest property in our portfolio.\u201d<\/p>\n<p>The Ritz-Carlton, Budapest, is housed within a protected historic building located on Elizabeth Square, with views over St. Stephens Basilica. Inside, The Ritz-Carlton Club Level is situated on its eighth and ninth floors, offering guests dedicated concierge, plus complimentary food and beverage presentations running throughout the day.<\/p>\n<p>The property features a ballroom, situated on the lower ground floor, adjacent to five flexible meeting rooms, which combine contemporary interiors with state of the art technology.<\/p>\n<p>According to the latest <a href=\"https:\/\/horwathhtl.com\/\" rel=\"nofollow\" target=\"_blank\">Horwath HTL<\/a> Hungary Market Report, Budapest shows supply and demand growing hand in hand with average daily rate. Global interest in visiting Budapest has increased demand, not only during the typical peak periods (i.e. May to October) but also in off-season and shoulder periods.<\/p>\n<p>\u201cThe Budapest hotel market is in a long awaited good shape with both occupancy and ADR figures on the rise,\u201d Attila Radv\u00e1nszki, Horwath HTL senior consultant, told <a href=\"https:\/\/www.commercialsearch.com\/news\/\" target=\"_blank\">Commercial Property Executive<\/a>.  \u201cHotels have managed to finally surpass both their pre-crisis ADR levels, which are still considered cheap compared to other capitals in the region like Vienna or Prague.\u201d<\/p>\n<p>The report cites that the Budapest hotel market recovery has been long overdue to follow such European capitals as Prague and Vienna. Additionally, the much-criticized, nevertheless continuous, promotional efforts of the Hungarian National Tourist Office, the constant infrastructure improvements in the city center and the advent of private-sector initiatives establishing quality attractions and entertainment hubs all have contributed to Budapest becoming a better overall tourism product.<\/p>\n<p>\u201cMajor refurbishments have been completed in the downtown area which coupled with a booming restaurant and bar culture attract primarily leisure individuals who appreciate the still excellent price-value ratio of the destination,\u201d Radv\u00e1nszki said. \u201cAlso the increasing popularity of the annual events such as the Spring Festival or the Sziget Music Festival offer a fresh and more affordable alternative to many mainstream destinations.\u201d<\/p>\n<p>The Ritz-Carlton hotel in Hungary is located in the heart of the cultural and shopping district, literally on the doorstep of Budapest\u2019s heralded historic sites and close by from the Danube River.<\/p>\n<p>\u201cThe \u2018Pearl of the Da nube,\u2019 Budapest is perfectly located as the European gateway to travelers whether coming for business or leisure,\u201d Humler said. \u201cBut not only are we looking forward to welcoming our guests and sharing our vision and service standards; we are also excited to become an integral part of the thriving, vibrant city itself.\u201d<\/p>\n<p><em>Image courtesy of the <a href=\"https:\/\/www.facebook.com\/ritzcarlton\" rel=\"nofollow\" target=\"_blank\">Ritz-Carlton Facebook page<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 200-key luxury hotel has opened its doors to guests in Budapest.<\/p>\n","protected":false},"author":451,"featured_media":1004141815,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21751,16,21742],"tags":[],"class_list":["post-1004141814","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-hotel","category-international","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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