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New luxury hotel to open in Budapest: Austrian brand enters the Hungarian market
A new player is set to enter the Hungarian hotel market: the international hospitality brand Julius Meinl Living has purchased a historic, protected property in Budapest’s 6th district. Following a major renovation, the building will reopen as a luxury hotel named The Julius Budapest in 2029, according to a statement from the law firm Schoenherr, which advised on the project.
The development will take place on Hegedű Street
The investment is located in the heart of Terézváros, on Hegedű Street, close to Andrássy Avenue and the Hungarian State Opera, EQS News reports. Julius Meinl Living acquired the building from Longbridge Group. After a complete reconstruction, the hotel will feature 118 rooms and serviced apartments. With an average size of 34 square metres, the rooms will be considered spacious for the luxury hotel category, Portfolio notes based on the statement.
The total gross floor area of the property will be 9,910 square metres. The developer will preserve and transform the existing building, while adding new wings on the remaining part of the plot.
Prague’s The Julius has been a major success: Budapest will adopt a similar concept
Julius Meinl Living is already well known in Central and Eastern Europe. The brand opened its first The Julius property in Prague in 2022, and it has since become a favourite among guests. The hotel has a 9.6 rating on Booking.com and recently received a Michelin Key, a prestigious international recognition for luxury accommodation.
