Will one of Budapest’s most reputable baths be saved?

One of Budapest’s most beautiful bathhouses, the Rác Baths, has been renovated and ready to open its doors to the public since 2011, but eight years later, said doors are still closed because of legal battles and disagreements. But now there is a chance it may finally be able to let visitors in.

They will provide over €21,511,595 for the local government of Budapest to acquire the ownership of the Rác Bath and Hotel buildings during the liquidation procedure, revealed the Assembly of the Capitol’s submission for next Wednesday’s meeting, reported Index.

After the acceptance of the submission proposed by Gábor Bagdy deputy mayor, the Assembly asks the manager of REK Rác Fürdő Eszközkezelő Ltd. to make an offer for the Rác Bath and Hotel buildings, that is, the whole real estate complex’s ownership, up to €22,745,160.

According to the proposal, the ltd 100% owned by the local government of Budapest would get an interest-free membership loan of about €23,048,138.

After the acquisition of the ownership, the local government of Budapest with the involvement of REK Ltd. will immediately begin the proceedings necessary to open the bath, renovations, as well as “considering the possible operation alternatives for the superstructure of the hotel, including the issues associated with the accounting of the granted loan with the continuous involvement of REK Ltd.”

More of Budapest’s stunning bathhouses HERE.

Source: https://index.hu/