Hotel boom in Budapest // 01/23/2007

At least 8-10 4- and 5-stars hotel will open in Budapest in the next 2 years and the same figure valid for the countryside. Budapest is in the focus of the foreign investors, but as to the opinion of the travel professionals, their new appearance not be too fast. New hotel brands is to be introduced to Budapest such as Marriotts' Courtyard brand which will be opened in 2009 at the Blaha Lujza square. Several smaller boutique hotels are to be opened in the capital and few big chains will open their hotels in the countryside of Hungary.

There will be new Ramada and Hilton and the Spanish Iberalta group is going to put their foot into the market. The hotel at the foot of the Gellért-hill, which will be built together with the Rác Thermal Bath, will open its doors this year. The Spanish Martinsa-Fadesa starts to built a hotel as well, in addition to this, new Hungarian investors come into the picture of the Budapest hotel industry: Wallis Real Estate and Autóker.

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