BDPST, a specialist in buying and renovating landmark buildings, is owned by István Tiborcz, the son-in-law of the prime minister.

The company plans to complete the refurbishment by incorporating 21st-century innovations, while its interior will be reconstructed based on old designs and photographs, co-ordinated by London-based interior design studio Alexander Waterworth.

According to earlier reports, the reconstruction is to be completed by 2027.

The hotel, with 134 guest rooms, including 34 suites, will be operated by the Mandarin Oriental Group, an internationally known upscale hotel operator. The Gellért will be its first Hungarian unit.

The general contractor of the project, the DVM Group, committed not to use tower cranes or external waste chutes in order to maintain the facade and protect the skyline.

MTI Stock Photo - for illustrative purposes only

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