Budapest spas break all records

Written by Christina Vontin

The annual net turnover of Budapesti Gyógyfürdői Zrt. has already approached 26.3 billion forints (just under 66 million euros) in 2024, compared to the 23 billion forints achieved a year earlier. Profit after tax exceeded HUF 6.2 billion (2023: HUF 5 billion).

This result is primarily due to the business strategy, which aims to increase revenue per guest and align the services of the historic spas with international prices. As a result, the minimum price level of European historic spas has now been reached. At the same time, the Zsigmondy Club Card and complex season ticket programmes have been offering significant discounts to local guests for many years.

The company is only planning for just under 4 million guests in 2025. This would be 10,000 fewer than last year, which is mainly due to projects as part of the multi-year pool modernisation programme. The revenue forecast for 2025 could be 235 million forints lower than in 2024, with the company expecting a more modest profit after tax of around 4.6 billion forints. The difference is due to revenue losses due to the closure of the Gellért Baths planned for the fourth quarter and the renovation of the Széchenyi and Dandár Baths, the expansion of the discount system and increased labour and material costs. The number of visitors utilising spa services for medical purposes is estimated at only 180,000.