Novotel hotels for sale in Szeged, Székesfehérvár
Christie & Co has been exclusively instructed to sell two AccorHotels-operated hotels in Hungary: Novotel Szeged and Novotel Székesfehérvár, a press release issued today reveals. The hotels are seen as offering high potential for investors to enter an emerging CEE market.
Novotel Szeged, Hungary.
The two 4-star hotels, with a total of 231 bedrooms and featuring dining, fitness, conference and event facilities, are located in two of Hungary’s largest cities.
Novotel Székesfehérvár comprises 95 bedrooms, including 86 standard rooms, five business rooms and four duplex rooms. Novotel Szeged has 136 bedrooms, including 85 double rooms, 45 twin rooms and six junior suites, catering for a similar group and corporate market.
“These opportunities provide very high potential for investors to enter an emerging CEE market,” said Lukas Hochedlinger, Managing Director Germany, Austria & CEE at Christie & Co. “CEE hotel markets may not be as mature as some of their West European counterparts, but they offer very high growth potential. What is more, as a number of West European markets have recently seen very strong growth, most notably the U.K. and Germany, some of the equity seeking commercially sound returns will invariably leave those markets and look for better-value propositions in the CEE, including Hungary.”
“Hungary is one of the fastest-growing economies in Europe and one of the leading nations for attracting foreign direct investment into the CEE, with tourism playing a vital role in the country’s economy," the managing director continued. "With almost 26 million overnight stays in 2015, which represents an impressive year-on-year increase of 5.4%, Hungary was able to attract a record-breaking number of tourists.”
The properties are currently operated by AccorHotels under the Novotel brand. Both hotels are among the best rated in their markets, enjoying good visibility and being close to their respective city centers and main business drivers. The hotels are offered for sale as a package or individually, on the basis of either a management contract or a franchise agreement.
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