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.
ADVERTISEMENT
MNB Int'l Reserves Rise EUR 579 mln in November
Gov't to Launch HUF 20 bln Workers Hostel Program
Retail Sales Fall 6.5% y.o.y. in October
Heineken Balaton Sound Announces 1st Phase Lineup
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.
