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Budapest Spas Plan No Closures Despite High Energy Prices

• 26 Oct 2022 6:42 AM
• Hungary Matters

Budapest spa company BGYH plans no closures in spite of high energy prices, tourism portal Turizmus.com said.

BGYH’s CEO, Ildikó Szűts, told the portal there could be “reductions in service portfolios” as baths coordinate energy use with demand, but no closures are planned.

BGYH expects energy-saving measures to cut gas consumption by at least 30% and district heating and electricity by 20-25%.

The company had budgeted 1.6 billion forints (EUR 3.9m) for energy costs this year, but that is likely to reach 4.8 billion forints now, Szűts said. Without steps to manage the crisis, energy costs would reach 6 billion forints, she added.

BGYH’s visitor numbers are at 80-85% of pre-pandemic levels, but revenue is up 10% thanks to a pair of price rises targeting foreign visitors.

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