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Budapest spa operator projects revenue to drop by 60 pc or more this year
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Revenue of Budapest spa operator BGYH could drop by 60 percent to 8-9 billion forints (EUR 26m) this year even under an optimistic scenario that there will be no second wave of the coronavirus epidemic, the recently appointed CEO of BGYH said in the Monday edition of business daily Világgazdaság.
All the spas operated by the company were closed from March 15 until May 30 because of Covid-19, Ildikó Szűts told the paper.
Originally, they projected 5-6 percent rise of revenue after a 20 percent increase to 18.4 billion forints last year, but now “constant crisis management” is going on, she said. The CEO projected losses of 3-4 billion forints this year that should be recouped in the next few years. Several of the investments planned by the earlier management have been halted, among them the reconstruction of the denoted Turkish Király Bath.
“At present we must launch only those investment projects that generate enough income to materially help mend the consequences of the crisis situation”, she said.
We miss greatly, our Kiraly Turkish Furdo.
The immediate future is one of great uncertainty.
We have a world wide reputation for our glorious and historic Turkish / Furdo Bath and Spa Houses.
They are a “soul” of our Nations Capital – Budapest.
We live in HOPE and that they ALL will come back to offer there joy not just to us Hungarians, but to the thousands of tourist, from within Europe and the wider Globe, who sing there praises annually, of what they provide magnificently to us, freeing our minds and bodies of the daily Challenges we face in our lives.
Challenges we know, no greater than what we ALL are faced with at this time in our proud history and throughout the world.
We must remain positive, disciplined, responsible, obedient and UNITED and believe in the resilience and determination that makes us Hungarian, and see there is a Future, that we ALL can play a part, to ensure life returns to a degree of normality.
Stay Well – All.