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Mellow Mood Group to complete five-star hotel by 2017

Mellow Mood Group signed a contract with architectural firm Archikon for the planning of the renovation of landmark Párizsi Udvar in central Budapest, after acquiring the historic building from the District V local council for HUF 2.1 bln last spring, Hungarian news agency MTI reported today.

According to plans, the building will be converted into a five-star hotel by the first quarter of 2017, through an investment of approximately HUF 10 bln.

Mellow Mood Group co-owner Zuhair Awad said that the general contractor for the project will be selected in the summer. Mellow Mood Group currently operates a luxury hotel in the neighboring Klotild Palace.