Danubius Hotels Group has concluded an agreement with the Hungarian real estate investor Indotek Group for the sale of Hotel Gellért – written in the hotel group’s announcement.
To realise the closure of the transaction, several legal and administrative issues need to be settled by the parties, which will presumably take a few months. Jellinek Daniel – Director and majority owner of the investor company, Indotek Group – is one of the wealthiest Hungarians, being the proprietor of a huge business complex.
Indotek Group is planning to implement a complete reconstruction on the protected historic building – while preserving its original appearance – in order to provide higher standard service, strengthening the quality of tourism in Budapest – explained by the representatives of the real estate development company.
As the Hungarian news portal index describes, the sales contract of Hotel Gellért stipulates that during the planning phase of construction and completion of the permitting process, its operation will be continued by Danubius Hotels Group.
By the termination of the reconstruction, Indotek Group intends to assign a luxurious international hotel chain with the hotel’s operation.
The legal procedures do not affect the hotel’s daily operation – reservation management and guests welcome are realised just as usual. It is also important to mention that the hotel building sale does not cover the operation of the neighbouring Gellért Thermal Baths, as it belongs to the management of the municipal corporation of Budapest thermal baths.