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.

CarmOlimp Group has acquired the Victory Hotel in Vama Veche resort, a year after opening a brewery on the hotel's ground floor.

Tourism and the commercial real estate industry would both benefit from the existence of theme parks in CEE. Demand is real and exists, however, there are several challenges to address for both investors and developers. Property Forum asked Róbert Székely, Senior Hospitality and Leisure Advisor at Newmark VLK Hungary, to give an overview of the potential of such parks in our region.

Hungarian property investor and developer Indotek Group has been granted permission from the Croatian authorities to buy the Jelsa Resort, a huge hotel complex on Hvar Island. The complex offers 1,400 rooms but needs to be refurbished, vg.hu reports.

The Le Meridian brand will offer 102 rooms and is scheduled to be open in 2025, telex. hu reports. This will be Marriott's first Hungarian hotel outside Budapest.

The new five-star Minaro Hotel MGallery offers 100 rooms in the world-famous wine region of Tokaj. This is Accor's first luxury hotel in Hungary outside Budapest.

The global hotel chain has signed a franchise agreement with the owner of Magyar Király Hotel in the regional city of Székesfehérvár. Accor wants its new facility, officially Mercure Hotel Magyar Király, to become the number-one hotel in the city. The deal is effective from Q3 2023 and was advised by Moore Hungary. 

Marriott International has agreed to open the first Sheraton hotel in the Hungarian capital. The grand opening is scheduled for June 2023. The new hotel will offer 105 rooms and a medium size conference facility and will be managed by Accent Hotel Management.

The four-star facility called Flow hotel was opened in Inárcs on Thursday and is to welcome conferences and ceremonial events such as weddings. It was financed in total by a private investor. 

The asset management company closed the sale of its 51% share in Solum-Invest Ltd. That was the last unit in its tourism-related portfolio.