Hyatt Hotels Corporation announced plans for the Párisi Udvar Hotel in Budapest, joining Hôtel du Louvre in Paris as the second hotel in Europe for The Unbound Collection by Hyatt and third outside of the U.S. Hyatt has entered into a franchise agreement with Párizs Property Kft for the project, which will see Párisi Udvar in downtown Budapest converted into an upper-upscale 110-room hotel. The hotel will feature 18 suites, including 2 presidential suites. The Párisi Udvar Hotel is expected to open in 2018 and will be managed by Mellow Mood Hotels.
The hotel will feature 110 guest rooms and suites, 300 square meters of indoor meeting space, a spa and fitness centre, restaurant, bar and café. The food and beverage outlets will be situated within the Párisi Udvar arcade, under the splendour of the building’s coloured glass ceiling and hexagonal cupolas.
The 20th century building, is located on Ferenciek Square, is known for its eclectic design. The future hotel incorporates elements from Moorish, Art Deco and Neo Gothic styles.
The building was completed in 1931 and remained relatively undamaged during the Second World War after which the upper floors were converted into apartments. It has so far escaped major renovations. It has been home to shops, apartments and offices, as well as the Jégbüfé ice-cream parlour fondly remembered by many local residents.
Photo: Mellow Mood Hotels
The Unbound Collection by Hyatt launched in March 2016 and has since grown to five properties currently in operation, with additional properties in development for the brand.
“Párizs Property Kft and Mellow Mood Hotels are extremely proud to have the opportunity to give back this renowned landmark building to Budapest, and it is a great honour to collaborate with Hyatt on this prestigious project. Our expansion in Budapest is a strong statement of our confidence in the local market and an opportunity to contribute to the growth of the tourism industry in Hungary”, said Zuhair Awad and Sameer Hamdan, both Managing Directors at Mellow Mood Hotels.
Iulius has attracted Kaufland as an anchor tenant in Family Market Tomești, based in Iași County. The retailer will open a 4,000 sqm hypermarket, while the whole project will have a leasable area of around 16,000 sqm.
DHL Express Romania has opened its new operational center at VGP Park Bucharest North in Ștefăneștii de Jos, marking the company's first carbon-neutral facility in the country, following a €5 million investment The 4,130 sqm facility includes 3,604 sqm of warehouse space and 526 sqm of offices, with a maximum sorting capacity of 2,800 items per hour.
Industrial developer CTP announced that Moemax, part of the XXXLutz Group, has signed a lease for a 5,300 sqm logistics unit at CTPark Bucharest South.
New appointments
At the beginning of September, Ewa Ciołek and Piotr Meleszko were promoted to Senior Leasing Manager. MLP Group, recognising the internal competencies and achievements of its team, emphasises the importance of further improving the efficiency of its leasing operations, which are key to the company's dynamic growth.
Avison Young's Investment Advisory team in Poland has welcomed a new member, Katarzyna Sielewicz, who takes the role of Senior Consultant. Katarzyna holds a master’s degree in Finance from the Stockholm University School of Business and completed an exchange semester at Cass Business School in London. She gained international real estate experience working with the global Research and Strategic Advisory team at Cushman & Wakefield (formerly DTZ) in London.
Activ Property Services has announced the appointment of Ionuț Grigoraș as Partner in the industrial department. With more than 14 years of experience in the real estate sector, Grigoraș has worked with leading companies such as CTP, WDP, VLParks România, Logicor, P3, MDO, and MLP Group.
Redstone has completed the acquisition of the Olympia Olomouc shopping centre at the end of September. The seller is CCPEPF Poland Intermediate S.à r.l., which is part of the Catalyst Capital investment and management group.
The transformation of the energy sector in Europe is gaining momentum, offering attractive opportunities for investors. The Wood & Company Renewables sub-fund is responding to the dynamic development by acquiring two battery storage projects in Sweden and Finland.
One of the possible solutions for financing development projects is to establish your own investment fund. In the last year, a traditional tool to raise money for business has become a phenomenon, reports E15.cz.
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