The iconic Budapest Marriott Hotel, a landmark on the Danube River, has been acquired by a Hungarian consortium comprising BDPST Group and Diorit Private Equity Fund, managed by Gránit Asset Management, for an undisclosed sum.
The sale, conducted by CPI Europe through an open international tender, sees Duna Szálloda Zrt., the hotel's owning company, jointly acquired by BDPST Corso Béta Kft. and Liberty Beta Corso Kft.
The acquisition is currently subject to customary closing conditions, including regulatory approvals.
Marriott International will continue to operate the hotel, originally opened as Hotel Duna InterContinental in 1969. The property, which has about 27,600 sqm of usable space and 364 rooms, is geared primarily towards business travelers.
The new owners aim to enhance the hotel's service standards and leverage synergies within their existing portfolios.
István Tiborcz, Owner of the BDPST Group, said: “The BDPST Group is constantly considering investment opportunities both at home and in the region. Our company was approached regarding the sale of the Budapest Marriott Hotel, and since the hotel fits into our strategy for the Budapest hotel market, we ultimately decided to make an offer. This is one of the best-equipped hotels in the city. We see serious potential in its operation, which also provides opportunities for group-level synergies with our other downtown sites. As a professional and financial investor, we will work to ensure that the Budapest Marriott Hotel operates successfully in the long term.”
“The property is in a top location in Budapest and has stable income-generating capacity, while thanks to its unique features, it also has great potential," added Álmos Mikesy, President and CEO of Gránit Asset Management, representing the buyer.
BDPST Group has interests in real estate, finance, and logistics, while Gránit Asset Management oversees nearly €3 billion in total assets.
