Iconic Cylindrical Hotel in Budapest to be Transferred into Flats
- 7 Mar 2025 11:18 AM
- Hungary Around the Clock
Market Asset Management will begin a two-year transformation of the Budapest Hotel into upscale apartments in the summer, the property developer of the Market Group announced.
The 280-room cylindrical building in Buda, also known as the Corallo, (Round Hotel) designed by György Szrogh, opened in 1967.
Market added that use of the building as a hotel has proven unviable in recent decades, while there is a great demand for new, high-quality apartments in Buda.
The developer will build 50 apartments completed with wellness and fitness facilities, a restaurant and offices.
The scheduled completion date is the third quarter of 2027.
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