BDPST Group has signed an agreement for the purchase and modernisation of the prominent Gellért Hotel in Budapest. Under this agreement, the hotel will be reborn as a five-star top-class hotel on the Danube. The majority owner of the company is none other than István Tiborcz, PM Viktor Orbán’s son-in-law.
Hungary’s best known hotel, the Gellért Hotel, will return to the Hungarian accommodation market with a completely renewed interior and new quality services, Index reports. According to István Tiborcz, the renewal of the hotel will be an important milestone in the development of the overall top-class accommodation offer in Budapest.
Under the terms of the share purchase agreement signed on 9 December, BDPST Group will own the hotel after the closing of the transaction, thus expanding its portfolio in the Budapest hotel market with a new hotel, according to a statement sent to Index.
The hotel will undergo a complex renovation in the future.