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Gundel Restaurant plans double-digit growth this year

12 March 2024

The operator of the Gundel Restaurant in Budapest is planning a double-digit, 20% increase in turnover this year, Jenő Magyary, managing director of Gundel. 

    He added that in 2023, the turnover will increase to HUF 1.5 billion, and the profit will be roughly 8-10% of that, according to preliminary data.

    The restaurant was reopened in 2021, and in 2022 it closed the year with a break-even balance due to the impact of the epidemic. In 2022, Gundel Restaurant had 55,000 guests, compared to almost 57,000 last year, and this year the target is to serve 70,000 to 75,000 guests. They have increased the number of staff, from 74 last year to a team of 80.

    This year, too, they want to achieve a profit level of 5-10% of revenue, he noted.

    He pointed out that the building has been a restaurant for 130 years, since 1910 under the name Gundel Restaurant. The building requires constant maintenance, and the energy modernization started in 2022, with the renovation of the gas boiler and the installation of a solar system at a cost of almost HUF 100 million. This year, the modernization of the listed building will continue with the renovation of the entire façade in March, and part of the event space will also be renewed, at a cost of HUF 30 million.

    Jenő Magyary stated that hearing and visually impaired people will now receive special attention at the Gundel restaurant, as waiters have learned basic sign language communication in both English and Hungarian, and visually impaired people can learn about the history of the dishes of the most famous Hungarian restaurant from a Braille menu. Social responsibility and sensitivity have always been part of Gundel's core values and have shaped the attitude of its staff, he said.

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