The legal predecessor of the faculty was the Pest Academy of Commerce, founded in 1857 by the Pest-Buda Chamber of Commerce and Industry. Although there were several attempts to upgrade the so-called upper commercial school (which in today's sense was a secondary educational institution) into a higher educational institution, these proved unsuccessful, but the establishment of the Academy was still a ground-breaking step in the region and even in the Austro-Hungarian Monarchy. The building of the Academy was constructed in an eclectic style based on the plans of Győző Czigler, who also designed the building of the Széchenyi Spa. The Alkotmány Street site was appointed by the Capital as the construction site, and it still functions as the main building of our Faculty. In 1899, the Eastern Academy of Commerce also moved to the Alkotmány Street building, but organisationally and in terms of requirements it was separate from the Pest Academy of Commerce.
During the interwar period, the Academy offered various advanced vocational courses in addition to those of the upper commercial school. From 1939 the institution operated as a commercial secondary school, in 1962 the Higher-Level Vocational School of Commerce and Catering was established, which can be considered the forerunner of the present-day higher educational institution. The vocational school offered commercial and hospitality programmes, in full-time and correspondence forms, and later on tourism became an option for students majoring in hospitality. Summer and mid-year corporate internships played an important role in both majors.
The actual legal predecessor institution of BBS FCHT, the College of Commerce and Hospitality, was established in 1969 by a decree-law of the Presidential Council issued on 26 June 1969. The college had two faculties: the Faculty of Commerce and the Faculty of Hospitality, and accordingly, commercial and hospitality programmes were offered. From 1974, those interested in tourism could receive more detailed and complex tourism training than those taking part in the general hospitality programme in the framework of an optional course in tourism starting in the second year, however, the independent Tourism and Hotel Department was established only in 1990. In 1975, the Department of Pedagogy was established at the college, so vocational teachers were also trained as part of the teacher training courses.
In 1992, the name of the institution was changed to the College of Commerce, Hospitality and Tourism, because by that time the Department of Tourism had grown into an independent professional unit within the college. Another change in the history of the institution took place in 2000 when Budapest Business School was formed as a result of the merger of the College of Finance and Accountancy, the College of International Management and Business and the College of Commerce, Hospitality and Tourism. The Minister of Education awarded Budapest Business School the Higher Education Quality Award in 2010, and in recognition of the efforts made in the field of quality education, the institution received a university rank in 2016 and has been operating as a university of applied sciences ever since.