A consortium led by the Diorit Private Equity Fund and BDPST Group has acquired the Budapest Marriott Hotel from CPI Europe.
The transaction, said to be worth €115 million, came about as a result of the purchase of the hotel’s owning company Duna Szálloda.
Marriott will continue to operate the 364-room hotel which originally opened as Hotel Duna InterContinental in 1969.
BDPST Group has investments across real estate, finance and logistics, while Diorit manager Gránit Asset Management oversees nearly €3 billion in total assets.
What they said
István Tiborcz, owner of BDPST Group said: “The Budapest Marriott is one of the city’s best-equipped hotels and fits perfectly with our broader strategy in the capital. We see long-term potential in this asset, both financially and strategically, through group-level synergies with our other properties downtown.”
Álmos Mikesy, president & CEO of Gránit Asset Management added: “For our investors, long-term value creation is always paramount. The Marriott’s central location, iconic status and stable income profile made this a highly attractive opportunity.”