Hotel in Budapest, Hungary, 286 m²

Five years ago, in February 2014, GARAY TERRACE RESIDENCE, a new mini-hotel, opened its doors in Budapest, offering its guests a great stay in rooms with a wonderful view of the city and the Buda hills. Thanks to its convenient location, you can easily walk to the Varoshliget City Park, Andrassy Avenue, Heroes' Square, the Secheny Swimming Pool, the Zoo, the large Arena shopping center and to one of the central stations of Budapest, Keleti, without using public transport services. In the building, on the ground floor, an agricultural market is open from Monday to Saturday. On the ground floor there are shops of various types, a cafe, a supermarket, a dining room. Paid parking is possible on four levels. Apartments are located on the third and seventh residential floors, located in the form of towers around the perimeter and towering over the shopping center. At the top of one of the towers there is a hotel, which, in addition to rooms and office space (reception), has a spacious common terrace, providing an opportunity to relax, and in summer to sunbathe in the fresh air in a quiet, modest place. Part of the terrace is glazed, breakfast is served here in the form of a buffet.

The uniqueness of the mini-hotel lies in the fact that it is located on the seventh floor of a multifunctional house with a central location, built 12 years ago. The hotel has 14 rooms with a modern design for 32 people (two of them are separate apartments in the form of 2-room, long-term rented apartments). The balconies of the rooms offer a beautiful view of the city and the Buda hills. The rooms are equipped with individual air conditioning, safe, refrigerator, LCD TV, Wi-Fi, hairdryer. Within walking distance of restaurants, cafes, fast food, market, shops. The hotel "GARAY TERRACE RESIDENCE", despite its youth, occupies a worthy place in the Budapest hotel services market. The hotel has a large capacity due to its pricing policy, which contributes to an increase in profits, as well as an increase in the number of returning customers. The rating of visitors on the most popular booking sites is "very good", on TRIPADVISOR – "very good", The promotion of the mini–hotel is successfully carried out from year to year: the number of rooms is expanding step by step, the variety and quality of services are growing (for example: the introduction of a buffet for breakfast, the offer of cold drinks from the refrigerator public use, etc.). These measures justify themselves and delight the owners with new records for tariff growth, occupancy and income. It is noteworthy that in 2017, the hotel reached 136.33% of revenue compared to 2016. The tourism boom in Hungary, including Budapest, continues, for the year 2018 at the Garai Terrace Residence hotel, income increased by a further 3.46%. There was a strong increase in sold nights (+10.82) and occupancy (+7.55%). Forecasts and current indicators for 2019 promise continued growth of all significant indicators. (As of April 15, the amount of the cost of armor for the whole of 2019 reached 50% of the income of the whole of the previous year 2018, and as of May 31 – 60%).

An important fact is that the hotel's revenues are realized mostly in euros (the share of revenue from domestic guests is about 8%), and this business is practically independent of fluctuations in exchange rates. Foreign guests are mainly from European countries, and 75 countries are represented among the guests. (Russia approx. 24%)

The offer applies to all permits to conduct this business, with the possibility to buy a neighboring twin object.

Profitability 4.0-5.2% - depending on the management scheme
With a family business - up to 10-12%.

Rating:
Bookin g IS VERY GOOD
Tripadvisor IS VERY GOOD