The iconic 1967-built Hotel Budapest — locally known as Körszálló (meaning 'circle hotel') — has officially received demolition and construction permits for a near-complete rebuild. Most of the cylindrical tower and interior will be taken down and reconstructed to house around 50 luxury apartments, along with wellness facilities, restaurants, offices, and public amenities, 24.hu reports.
Designed originally by György Szrogh, the building has been recognised as a modern architectural landmark, but has deteriorated structurally and functionally in recent years. Market Asset Management (linked to István Garancsi) plans a sensitive redevelopment that retains its iconic circular form, pillar structure, raw concrete, and panoramic glass façades. However, decorative interiors—such as the spiral staircase and original lighting—will not be preserved
Construction is scheduled to begin in summer 2025 and is expected to take two years, with completion by Q3 2027. The upgrade includes geothermal heating, heat pumps, LED lighting, photovoltaic systems, large underground parking with green roofs, and the conversion of surface lots into public green spaces.
While the redevelopment retains the exterior's essence, the scale of demolition has sparked debate among heritage and architectural communities. Defenders argue it's necessary to preserve the building’s role in the cityscape, while critics lament the loss of original interior features and worry about the appropriateness of reconstructing modernist heritage.
