ADVERTISEMENT

Report: Hunguest Hotels to sell Hungarian properties

Awards

pixabay

Hunguest Hotels plans to keep its holdings in Austria and Montenegro but will sell its Hungarian properties, and an ambitious development near Lake Balaton, shelved in the wake of the financial crisis, is allegedly behind the sale, according to reports.

Due diligence is being carried out by the law firm of Dr. Kertész regarding Hunguest’s holdings and it is believed that the significant investments planned by developer Jászai Gellért over a decade ago at Hunguest properties near Lake Balaton are a motivating factor in the sale, Hungarian daily Magyar Idők reported today.

Kertész is reportedly the legal advisor that has been working with Jászai Gellért over the past decade and has been a member since 2010 of the board of SCD Group, which coordinated investments for companies belonging to Jászai Gellért. 

ADVERTISEMENT

OECD projects Hungary GDP growth will slow to 5% in 2022 Analysis

OECD projects Hungary GDP growth will slow to 5% in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.