Profits at Budapest’s baths have increased by nearly 20% in the first quarter, which is at a higher rate than the increase in the number of visitors. The increase in revenue is attributed to the growth of additional services and the sale of branded products.
Nearly 1 million guests visited the 11 Budapest baths that were open in the first quarter, a figure which is 67,500 more than the record set last year. This is a 7.4% growth in the number of visitors, while revenue from sales was valued at nearly €12 million between January and March – 18.9% more than for the same period last year, as stated by Szilvia Czinege, the sales and marketing director of Budapest Gyógyfürdői és Hévízei Zrt. (BGYH).
Based on the statistics reported by turizmus.com, the number of visitors to Budapest’s historic baths grew at a faster rate than the number of visitors to the capital as a whole. One of the major reasons for this is the growing popularity of the baths amongst foreign tourists. Indeed, it is estimated that 60% of visitors from outside of Hungary went to one of Budapest’s baths.
“Hungary’s expanding tourist industry is remarkable,” said Szilvia Czinege.
However, the 20% increase in revenue cannot be attributed only to the growing tourism industry and the rising entry fees. In addition to increasing ticket prices by 5% at the start of the year, Budapest’s baths have started to pay more attention to expanding the additional services they offer to visitors. This may involve providing a wide array of massage services, such as at Gellért Spa.
Spas in the capital are also recognising the benefits of marketing, which has played a significant role in attracting tourists who previously would have not visited the baths. In addition to marketing campaigns to lure in tourists, Budapest’s spas have also begun focusing on selling merchandise and items that enhance the bathing experience. These have all contributed to the record-breaking revenues reported this year.
As the weather warms, more and more baths will open over the course of the year. We might see unprecedented revenues in the second quarter of this year too.
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