News Article BDPST Budapest hotel Hungary Indotek investment
by Property Forum | Investment

Hungary's BDPST Group is set to acquire Hotel Gellért in Budapest, located in the same building as one of the city's most famous spas, from Indotek Group. The price of the transaction was not disclosed. Indotek obtained the hotel in 2019, buying the property from Danubius Hotels Group, reports.

A five-star property will be open next year after an extensive refurbishment, offering 139-150 guest rooms and luxury suits. The refurbishment will not cover the prestigious spa, incorporated into the same complex. The new owner decided to build in the latest technical solutions to reduce costs while it intends to keep all historical features within the building.

BDPST Group has a number of new hotel projects in the centre of the Hungarian capital. Two of them will be completed in 2023.