The total value of applications developers and accommodation providers have so far submitted in the government's subsidy program for constructing or upgrading hotels and guest houses now stands at Ft 200 billion, exceeding the current budget of Ft 150 billion,  said Tibor Gajda, deputy chief executive of the Hungarian Tourism Agency (MTÜ).

Gajda didn't say whether the government is planning to increase the current budget of the program in response to high demand. He said 800 applications were submitted for upgrading already operating guesthouses, while tenders to support the construction of new guest houses or hotels and upgrading existing hotels have attracted 300 bids.

Eligible companies have been able to apply for subsidies of Ft 5-60 million to upgrade already operating guesthouses. Non-refundable financial support has been also available for the construction of new hotels and guesthouses at Lake Balaton and in the Sopron-Fertő, Tokaj, Upper-Tisza and Nyírség regions.

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