Spainʼs Barceló Group has opened the 179-room, four-star Barceló Budapest on Király utca after two years of development, according to a press release sent to the Budapest Business Journal. The Spanish hotel group has signed a 25-year tenancy deal with developer the Sunbelt Group, owned by Hungarian investors.
The building at Király utca 16 in District 6 has fulfilled a number of different functions in the past, such as a bank headquarters and office building. The transformation to a hotel began in 2017, with the structure stripped back to the concrete. A full seventh and a partial eighth floor were also added.
In the name of sustainability, the facade of the building has extra-thick heat insulation, and the external aluminum windows are made with three layers of glass. Lighting is provided by LED sources and the machinery behind the hotelʼs operation is also energy-efficient, notes the press release.
Additionally, the hotel features a modern heating and cooling system, as well as an automatic fire alarm. The noise and vibration protection solutions even exceed the standards of five-star hotels, the press release adds.
The general contractor of the project was Europroperty Zrt., with funds coming from own resources of the Sunbelt Group, owned by Hungarian investors, and commercial bank financing.
Following the internationally applied specifications of the Barceló Group and domestic regulations, the interior design solutions were drawn up by Europroperty, bearing in mind the streetʼs characteristics and the expectations of the general public and the market. Double rooms are in the 23-33 sqm range, with one-third equipped with a balcony.
Apart from double rooms, Barceló Budapest features five suites and a conference room with capacity for up to 80 people. Other features include a 24-hour fitness studio, restaurant, and panoramic Sky Bar.
The value of the development is nearly HUF 15 billion. The Spanish hotel group has signed a 25-year tenancy deal with the Sunbelt Group.
"Barceló Budapest is currently our second successful hotel project in downtown Budapest," says Zsombor Török, co-owner of Sunbelt. "Exe Danube opened in February 2017 on Asbóth utca in District 7, and has been operating almost fully booked ever since. Its operator is a member of the Eurostars Hotel Company, the Spanish Hotusa Group, and the property itself was sold to a German pension fund."
Török adds that in the next few years Sunbelt aims to realize three more hotel investments.
"The dynamic development of the Hungarian tourism industry, the favorable tax environment enabling this, and Budapest being considered a viable and safe destination for guests, provides an excellent environment for this," he notes.