Portuguese hotel chain acquires MÚOSz headquarters
An unnamed Portuguese hotel operator company has acquired the headquarters of the Hungarian Journalist’s Association (MÚOSz) for € 2.7 million, the agreement was signed last Thursday by President Pál Eötvös. The proceeds from the sale will be used to consolidate the financially challenged organization, which was unable to cover the maintenance costs of the crumbling yet once magnificent building. MÚOSz has its residence in the "House of Hungarian Press", one of the most beautiful villas of Andrássy avenue that belongs to World Heritage. The Association has 5000 members approximately, among them numerous renowned journalists and media personalities, while one third of its members are coming from all parts of the country. MÚOSz will move its offices and the Hungarian Academy of Journalism to a nearby property on Bajza utca. Earlier this summer, another investor paid a similar amount for the organization’s lakeside resort in Balatonszéplak. The Portugese buyer leaves the building with MÚOSz till April 2008, when the rent of the Restaurant Premier, located in the building, expires. Buyer will pay a part of the amount to the organization therefore MÚOSz will be able to renovate its Academy building before moving. MÚOSz is planning the moving in 2007. (Világgazdaság, muosz.hu)
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.