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.
A company specialising in the logistics sector, providing goods warehousing and transportation services, has leased a total of over 5,000 square meters of modern space at the MLP Czeladź logistics centre. The transaction was brokered by the consulting firm Rock Estate.
Skanska announced the expansion of its tenant portfolio in the Equilibrium 2 office building in Bucharest by welcoming ONV LAW. ONV LAW will occupy approximately 640 sqm in Equilibrium 2, with the move-in scheduled for December 2025.
EPP's Outlet Park Szczecin, the only outlet centre in Western Pomerania, is strengthening its fashion offerings by signing agreements with three brands previously unavailable in the region. JACK & JONES and Evenemen, with their men's fashion collections, and the premium optician OUTLY, have already opened their stores. eobuwie will also join the tenant roster this fall. VENEZIA, TATUUM, WITTCHEN, and Pako Lorente are also continuing their partnerships with the centre, significantly expanding their stores, while Lee Wrangler and German Optiker are moving to new locations. The new agreements and extensions cover a total area of nearly 1,800 square meters.
New appointments
Justyna Filipczak has taken up the position of Executive Vice President of the CEE residential segment and joined YIT's management team.
Avison Young's Valuation and Advisory team in Poland has welcomed a new member, Michał Marynowski, who takes the role of Assistant Valuer. Among other experiences, he worked at the Court of Appeal in Warsaw, where he was responsible for verifying execution documentation for selected investments, updating data in the premises database for court buildings, and analysing tender bids. Proficient in GIS, AutoCAD, and Revit, he also has strong skills in interpreting planning documents.
Golden Star Group, an international investment firm operating in the real estate sector, has announced the promotion of two key specialists within its Polish team. Paweł Moczybroda has been appointed Group Chief Financial Officer, while Ewa Dragunajtys has been promoted to Head of Asset Management.
Stokado, the second-largest operator in Poland’s self-storage market, has secured PLN 80 million in debt financing from Bank Pekao S.A. The funds will partially refinance invested equity and support the development of ongoing projects in Kraków and Warsaw.
Finep has launched the sale of two residential projects in Bratislava, Danubius Two, the developer's tallest building in history, and Danubius Lofts, housing in a renovated historic Cvernovka factory building.
Romanian real estate company Bucur, controlled by Longshield Investment Group, has purchased the CSDA Siriului office project in northern Bucharest for an undisclosed sum.
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