Forestay Group and its financial partner Recorde Asset Management have signed an agreement with Marriott International to open a dual-branded hotel development in Budapest, featuring a Moxy Hotel and Residence Inn by Marriott under one roof.
Scheduled to open in autumn 2026, the project will be located at Váci utca 81, on the city's main downtown pedestrian shopping street. The development will offer a Moxy hotel with 217 guestrooms and 72 suites under the Residence Inn brand.
"Váci utca is one of the most buzzing, high-energy destinations in Budapest, and we see potential in bringing new use to this former office building through Marriott's brands," said Bálint Botos, Managing Partner at Forestay Group. "The dual-brand concept allows us to address multiple segments of the hospitality market in one project, with lively public spaces, flexible accommodation and a design-forward approach that reflects the architectural heritage of Budapest."
The location's historic charm and prime position, steps away from major tourist sites, cultural landmarks and business hubs, makes it suitable for this hospitality development. The mix of short- and extended-stay offerings will serve both international visitors and long-term guests.
