Wing will contribute to the partnership through its real estate development expertise, portfolio management experience, capital strength, and value-creating solutions, while Accent will bring local and international references, operational competencies, and brand relationships.
“Thanks to Wing’s experience as a developer and owner, we can offer integrated, transparent, and value-enhancing solutions that are still lacking in the domestic independent hotel operator market,” says Ernő Takács, deputy CEO of hotels and commercial properties at Wing.
“We have gained considerable professional experience in operating our own hotel portfolio, and these hotels serve as excellent references. As a result, we are open to providing reliable and professional operational and project management services to third parties as well,” he adds.
Meanwhile, Accent operates more than 2,000 rooms across 29 hotels in Hungary and Austria for various property owners and is actively expanding its portfolio in the market.
“As an independent ‘white label’ operator, it collaborates with international hotel chains under franchise agreements, managing hotels under brands such as Marriott, Best Western, and Accor,” Imre Csordás, managing director of Accent Hotel Management, explains.
“In our joint venture, we aim to combine this knowledge and expertise with Wing’s real estate development and management experience to operate hotel investments as efficiently and successfully as possible,” he adds.
Wing and Accent’s first joint project is the Best Western Plus Lakeside Hotel in Székesfehérvár (64 km southwest of Budapest by road), which opened in 2015. Wing is the developer and owner of the hotel, while Accent has been entrusted with its operation for 10 years, with a franchise agreement for the use of the Best Western brand name.
The second phase of the Budapest One office complex by Futureal has achieved the highest possible BREEAM In-Use “Outstanding” certification for its operational performance.
Assessors highlighted the building’s exceptional accessibility, adaptability and responsible use of environmental resources. CBRE acted as consultant and assessor during the certification process.
The complex is designed to withstand both extreme weather conditions and the effects of climate change, according to Futureal. It features an energy-efficient, intelligent central building management system and a heat recovery ventilation system.
The roof hosts 150 solar panels with a combined capacity of 81.76 kWp, covering an area the size of two volleyball courts. The system generates around 80,000 kWh of renewable energy annually, cutting the building’s CO2-equivalent emissions by nearly 18 tonnes each year. The renewable electricity produced on-site is provided to tenants at no additional charge, Futureal says.
The 66,000 sqm development was designed to achieve the highest “Gold” rating from Access4You for accessibility, as well as the “Platinum” level of the WELL certification scheme.
“The interior design includes calming color schemes, a dedicated WELL room, a spacious rooftop garden, secure bicycle storage with showers, and a nearly 500-meter rooftop running track. The building also offers charging stations for electric cars, bicycles and scooters, as well as selective waste collection facilities,” says Futureal.
Faedra Fund III, managed by Faedra Fund Management, has signed a credit agreement worth more than HUF 10 billion with UniCredit Bank Hungary to finance two residential development projects in Budapest.
The financing will support the development of approximately 130 residential units across two prime locations. Baker McKenzie provided legal advisory services to UniCredit on the transaction, while Grant Thornton served as technical supervisor on both projects.
Mara Residence will comprise 67 apartments and two retail units and is currently in the structural construction phase. The development has already secured 70% pre-sales, demonstrating strong demand in Budapest’s dynamic District IX, according to Faedra Fund Management.
The other project, Liget Villa, located in District VII, will deliver 61 residential units. Following successful pre-sales, the project has entered the construction phase.
“Our return to the residential market is of strategic importance, and we intend to actively participate in the revitalization of the living sector going forward. The successful sales of these projects affirm our group’s commitment in this decision,” says Bence Boronkay, founder and CEO of Faedra Group.
“The strong pre-sales results on both projects reflect the quality of these developments and the growing demand in the market. The financing agreement reflects growing confidence in Hungary’s residential development sector and underscores Faedra Group’s positioning as an active player in Budapest’s urban regeneration,” adds András Zölei, head of real estate project finance at UniCredit Bank Hungary.
Forestay Group and Recorde Asset Management have signed an agreement with Marriott International to open a dual-branded hotel in Budapest, featuring a Moxy Hotel and Residence Inn by Marriott under one roof.
This marks the second Hungarian Moxy development by Forestay Group, which, it says, is “further advancing the company’s strategy of pairing high-visibility locations with forward-thinking, sustainable hospitality concepts.”
Scheduled to open in the fall of 2026, the project will include a Moxy hotel with 217 guestrooms, as well as 72 suites under the Residence Inn brand, at Váci utca 81.
“We see incredible potential in bringing new use to this former office building through Marriott’s brands,” says Bálint Botos, managing partner of Forestay Group. “The dual-brand concept allows us to address multiple segments of the hospitality market in one project, with lively public spaces, flexible accommodation and a design-forward approach that reflects the architectural heritage of Budapest,” he adds.
This article was first published in the Budapest Business Journal print issue of October 31, 2025.
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