Lake Balaton hotel prices skyrocket – Here are the shocking details!

Lake Balaton hotel prices have surged by an average of 10% compared to last year. However, in popular areas like Balatonalmádi, the increase is even more striking, with pre-bookers shelling out nearly 29 per cent more per person per night than in 2023.

According to Pénzcentrum, pensions stand out as the most expensive type of lodging at the Hungarian seaside. Despite typically peaking in July and August, this year’s trend shows a notable rise in last-minute bookings.

Based on summer reservations until the 17th of April, 2024, the average booking price per person was HUF 12,429 (EUR 31), marking a nearly 10% increase from last year’s prices during the same period. The most significant price hike was observed in Balatonalmádi, where the average price per person per night surged by 28.78% compared to the previous year.

Among the top 10 popular destinations at Lake Balaton, Balatonfüred and Keszthely followed with notable increases of 17.31% and 15.48% respectively. Overall, accommodation prices across the top 10 Balaton hotels and resorts rose by 9.68%.

The average price of a settlement is influenced by the variety of accommodation types and categories available, as well as the preferences of guests. Currently, there’s a higher proportion of bookings for apartments, leading to lower overall prices compared to peak season when hotels become more popular. Prices vary by accommodation type, with apartments seeing the highest increase (11.31%), followed by Balaton hotels and pensions with less than a 7% increase. Most summer bookings in Balaton are for July (47%) and August (34%), with less demand for June (17%), reflecting the trend of advanced bookings for peak summer months.

Last-minute bookings are a notable trend this year, with a majority of reservations being made close to the departure date. Consequently, demand for June dates hasn’t surged yet, possibly due to factors like the proximity of the Pentecost long weekend and uncertainties regarding weather and water temperatures at Lake Balaton. There’s a preference for Balaton hotel rooms with private pools or jacuzzis, and the most sought-after options are quickly booked.

Lake Balaton. Source: depositphotos.com

Lake Balaton hotel scene faces challenges

Tamás Flesch, President of the Association of Hungarian Hotels and Restaurants (MSZÉSZ), highlighted the challenging situation facing Lake Balaton, describing it as a product with a limited peak season lasting only five weeks. He expressed uncertainty regarding operations and pricing during these crucial weeks, noting a mix of normal entrepreneurs and opportunists. Flesch emphasised the unpredictability of post-season news and Balaton hotel prices, cautioning against relying solely on such reports for an accurate assessment of the situation.

Regarding price dynamics in domestic tourism, Flesch noted a disparity between cost increases and price adjustments, attributing this to the discretionary nature of tourism compared to essential expenses like food and utilities. Predicting price increases for 2024 posed challenges, with Flesch suggesting modest single-digit rises in the Hungarian countryside but potentially higher rates in Budapest. He underscored Budapest’s status as an export-driven hotel market, highlighting the role of foreign visitors and currency fluctuations in shaping pricing strategies.

Read also:

• Lake Balaton’s special ‘Greek village’ demolished – this will be built in its place – HERE
• Don’t miss out on these 5 amazing Hungarian festivals at Lake Balaton this summer! – HERE