ADVERTISEMENT

Orbis to buy Budapest Sofitel for EUR 42.25 mln

Hotels

Photo by Dave Martin/Mountain Leon

Listed hotel operator Orbis has signed a deal to buy the company owning the Sofitel Budapest Chain Bridge from Universale International Realitäten GmbH for EUR 42.25 million, state news wire MTI quoted Polish news agency PAP as reporting Tuesday.  

The deal, which the company announced in a market filing, is subject to approval by the Hungarian competition authority.   

To date, Orbis has been leasing the hotel from its owner.

ADVERTISEMENT

Varga: Q1 growth demonstrates ability 'to withstand crisis' Analysis

Varga: Q1 growth demonstrates ability 'to withstand crisis'

Parl't elects Orbán prime minister Parliament

Parl't elects Orbán prime minister

New managing director at LG Electronics Hungary Appointments

New managing director at LG Electronics Hungary

Budapest bike-sharing scheme expands in District XI City

Budapest bike-sharing scheme expands in District XI

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.