CPI Europe has sold the Budapest Marriott Hotel, a landmark on the Danube River, to a consortium consisting of the BDPST Group and Diorit Private Equity Fund, managed by Granit Asset Management.
The sale of the hotel’s owning company, Duna Szalloda Zrt. to BDPST Corso Beta Kft., which was founded by the BDPST Group, and Liberty Beta Corso Kft., a project company of the Diorit Private Equity Fund, was conducted by CPI Europe through an open international tender. Financial details were not disclosed, though reports have valued it at over EUR 115 million.
The acquisition remains subject to customary closing conditions, including regulatory approvals.
Marriott International will continue to operate the hotel, which originally opened as Hotel Duna InterContinental in 1969. The property has approximately 27,600 square meters of usable space and 364 rooms.
“The BDPST Group is constantly considering investment opportunities both at home and in the region,” explained Istvan Tiborcz, Owner of the BDPST Group. “Our company was approached regarding the sale of the Budapest Marriott Hotel, and since the hotel fits into our strategy for the Budapest hotel market, we ultimately decided to make an offer. This is one of the best-equipped hotels in the city. We see serious potential in its operation, which also provides opportunities for group-level synergies with our other downtown sites. As a professional and financial investor, we will work to ensure that the Budapest Marriott Hotel operates successfully in the long term.”