Hunguest Hotels Gets HUF 17.7 Billion To Upgrade 14 Locations In Hungary

  • 11 Feb 2021 9:38 AM
  • Budapest Business Journal
Hunguest Hotels Gets HUF 17.7 Billion To Upgrade 14 Locations In Hungary
Hunguest Hotels has launched upgrades at accommodation around the country supported by HUF 17.7 billion in grant money from the government's Kisfaludy tourism development program, business daily Világgazdaság said. 

CEO Ádám Détári-Szabó told the paper Hunguest is spending close to HUF 30 bln of its own resources on the upgrades, which involve 14 hotels. 

The projects account for close to half of the total of 35 supported in the framework of the Kisfaludy scheme, but Détári-Szabó noted that Hunguest is also the biggest hotel chain outside of the capital. He added that the subsidies cover between 25-50% of project value, with those in the east of the country getting more than the ones in the west. 

Détári-Szabó said Hunguest has no plans to build any more hotels but is always on the watch for potential acquisitions. 

Hunguest Hotels is in the portfolio of listed holding company Opus Global, part of the business empire of billionaire investor Lőrinc Mészáros, a key ally of Prime Minister Viktor Orbán.

MTI Photo: Tibor Oláh

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Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.