STR Market Overview
Horwath HTL Hungary was tasked to conduct a detailed assessment of the short term rental market in Hungary, with a special focus on Budapest, to provide a detailed overview of the segment’s characteristics and international case studies displaying regulatory options. During the course of the assignment we have conducted interviews with local and international STR operators, members of the local municipalities and regulatory bodies, and contacted major OTAs. On top of the interviews, we have conducted a survey to identify key local characteristics of the STR market, including demographics, spending habits, length of stay and motivation of travel. The completed comprehensive assessment served as a key decision-making tool for the local Tourism Agency in addressing the growing need for regulation in this sector.
Scope of Work:
In-depth assessment of the short term rental (STR) market in Hungary, with special focus on the regulatory environment, relationship of stakeholders and future trends prepared for the Hungarian National Tourism Agency
Status: Project Completed in 2019