The hotel-hostel hybrids are also conquering Budapest

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A&O expects many business travelers as well

A&O Hotels and Hostels is also preparing to build a "strong presence" in Budapest. The largest player in today's European hostel market offers centrally located but inexpensive accommodations, also in major cities.

Their first 114-room, 412-bed house in Budapest is scheduled to open next March at 11 Csengery Street - though Péter Takács, managing director of VLK Cresa, who coordinates the project, said a slippage of one to two months is possible due to construction difficulties. plans to create a thousand-bed supply in the Hungarian capital. The first building has been bought, and the next one I want to rent.

Founded in 2000 in Berlin, now owned by US-based TPG Real Estate, the company has recently expanded more than 15 percent annually, and currently has a portfolio of 35 facilities in 21 cities in six European countries.

The company's strategy is to provide at least two new units a year. In addition to Hungary, the Czech Republic and Poland are on the list of conquered areas, with their homes opening in Warsaw in October and plans for one in Krakow.

According to a 2017 survey, 40% of guests of A&O hotel-hostel hybrids come as individual leisure tourists, 37% in groups (mainly with student groups), 15% with families and 8% as business travelers. Business partners can use conference facilities in most facilities. Peter Takács also expects many business travelers in Budapest, especially during periods when three- and four-star hotels are full.

The units are available as rooms and beds and each unit has its own toilet and bathroom with hairdryer and toiletries. It offers a buffet breakfast, lunch, buffet dinner, lunch package, snack bar, guest kitchen, vending machine and sweets, laundry, left-luggage office, safety deposit box, 24-hour front desk, children's play area and free WiFi.

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