HUNGARY Hotel Gellért changes hands

The hundred-year-old Hotel Gellért Szálló, which is situated close to Liberty Bridge on the Buda side of the Danube, has been closed for renovations since the end of November 2021. Local group BDPST, which specialises in investing in the renovation of historic buildings, will now take over the hotel’s refurbishment through its subsidiary BDPST Real Estate Developer. The last major renovation of the property took place 50 years ago. According to the current plans, it will become a five-star hotel with 139–150 guest rooms and suites. The architectural project will not affect the area of ​​the Gellért bath in the building.

The history of the Hotel Gellért is intertwined with the history of the Hungarian capital, so we consider it a priority to return this incredibly valuable and interesting building to its original functions so that it can once again create value, attract visitors and create new jobs. Similar value-saving investments fit into both the BDPST Group’s corporate mission and strategic business plans. Renovating this art nouveau hotel with a unique past, restoring its original functions and raising its service level will be an important milestone in the development of the entire top-class accommodation offer in Budapest and can further strengthen Budapest's attractiveness as a tourist destination.
István Tiborcz, the majority owner of BDPST Group

The BDPST Group currently has several major hotel developments in progress in Budapest. In 2023, in the city centre it will open a new hotel, Verno House as well as the five-star Hotel Dorothea, through the extensive renovation of the patina building block that includes the Mahart and Futura houses.