Gellért Hotel regains its former glory after renovation

Danubius Hotels is looking for an investment partner for the renovation of Gellért Hotel. The multi-billion investment may take 1.5-2 years, turizmusonline.hu wrote.

Imre Deák, CEO of Danubius Hotels Group said on Wednesday that Danubius Hotels Zrt. and its parent company, CP Holdings has commissioned the London office of CBRE to find the suitable investment partner for a joint venture to renovate Gellért Hotel. Gellért Hotel is exclusively owned by Danubius.

According to the plans, the historical hotel’s original values and former glory will be restored. The multi-billion investment may take 1.5-2 years – the CEO told.

Danubius Hungary is the largest hotel chain of the country. It operates 23 hotels (more than 5500 rooms), including Hilton Budapest, Gellért Hotel and Gundel restaurant.  In addition, it is the majority owner and operator of 8 additional Czech, 12 Slovakian and 3 Romanian hotels, turizmusonline.hu added.

Copy editor: bm

Source: http://www.turizmusonline.hu