Budapest Airport plans €25m, 200-room hotel - newspaper

City

Liszt Ferenc International Airport operator Budapest Airport (Budapest Airport) plans to conclude an agreement with an investor next year to build a €25m, 200-room hotel next to the airport's Terminal 2B, the business daily Világgazdaság wrote on Monday.

The airport operator is up for sale since its owner Hochtief decided to sell its airport assets.

Budapest Airport Real Estate Development Director Rene Droese told the newspaper that the investor would finance the project to begin building the major international-chain hotel with conference and meeting rooms either at the end of 2012 or beginning of 2013.

Dreose said that Budapest Airport is in talks with the government regarding permission for a third party to conduct investments on airport property belonging to the company's asset-management portfolio.

The plan calls for the hotel to be completed in 2014.

Világgazdaság noted that the new hotel is part of a €300m development plan for Liszt Ferenc International Airport slated for completion over the next ten or fifteen years. The plan includes construction of a air-cargo transfer hub, whose first €14m phase could be completed next year, a new engine-testing grounds, new headquarters for Hungarian national airline Malév and a longer-term investment to build a six-to-eight-unit office park near the airport's Terminal 2.

The newspaper said that ground-handling companies Celebi Ground Handling and Malév Ground Handling have already signed contracts to use 80% of the 11,000-square-meter warehouse and attendant 4,000 square meters in office space to be built in the initial phase of the Cargo City air-cargo transfer hub to be financed through bank loans.

Malév is expected to move into its new headquarters at the airport next summer.

The investments would create 10,000 new jobs in addition to the current 12,000 jobs at the airport, Világgazdaság said.

Reuters news agency reported on Friday that Budapest Airport owner Hochtief is planning to sell its airport unit to either the HNA Group, the parent company of China's Hainan Airlines, or France's Vinci by the end of the year. Both companies have submitted bids of €1.5 billion Hochtief's stakes in the airports in Athens, Budapest, Duesseldorf, Hamburg, Sydney and Tirana.

 

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