Ruby Hotels is set to begin a hotel conversion project in Budapest, marking its entry into eastern Europe.
The Munich-based hotel brand plans to progress its European expansion by embarking on a mixed-use conversion project which will feature a Ruby Hotel with 181 rooms alongside retail and gastronomic outlets as well as a food and cultural market.
Located at Blaha Lujza Square in former department store Corvin Palace, the new hotel will be spread across four floors of the building, with public areas including a bar and lounge to be situated on the fifth floor.
The project is being realised in partnership with local developers, the Balogh family.
Construction is set to begin in late 2025 and the hotel is expected to open by the end of 2026.
What they said
Elena Günther-Jakobs, associate director development Northern & Central Europe at Ruby Hotels said: “Budapest is a city of incredible energy and creativity, making it an ideal destination for our target group. The hotel market in Budapest shows sustainable growth and offers a lot of potential for our lean luxury concept which we believe fills a gap in the market for stylish, high-quality, yet affordable hospitality options. We are excited to continue our collaboration with the Balogh family to bring our unique blend of style, functionality and affordability to Eastern Europe.”