BGYH takes ownership of Rác baths

In Budapest

Király Baths (pictured) are the oldest Turkish baths in Budapest still in operation.

Andocs via Shutterstock.com

BGYH, the Budapest municipal council's spa company, has taken over ownership of the Rác baths, one of the capital's historical Turkish baths, the Mayor's Office said yesterday, according to portfolio.hu.

BGYH acquired the baths late in May with a bid of HUF 5 billion, but the office said the signing of the purchase contract was delayed until the first week of August. The handover is expected to take place early in September, and the baths could re-open in 2022, it added.

BGYH wants to bring bathers back to the Rác by "the end of next year, at the latest," but the pace of renovation will depend on the state of the city's coffers, although it could draw on European Union resources for the project. BGYH was the only bidder at the auction and got the 3,333 sqm baths and attached 2,070 sqm 67-room hotel for the reserve price.

The Rác baths were renovated in 2010, and a boutique hotel was added to the structure, but they never reopened because of an ownership dispute. The National Reorganization Nonprofit Company took over the liquidation of the project company that carried out the renovation.

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