The money earmarked for the programme will come exclusively from domestic resources and 150 billion forints or half of the total will be in government grant money, he said.

Applications can be submitted starting September 30. A total of 2,000 accommodations or 30,000 rooms are to be revamped under the scheme which is expected to create 5,000 jobs, Seszták said.

The revamped accommodations could raise revenues by 20%.

Republished with permission of Hungary Matters, MTI’s daily newsletter.