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The landmark Párisi Udvar building in central Budapest was inaugurated as a hotel on Friday, after an extensive restoration project that lasted years, Hungarian news agency MTI reports.
Mellow Mood Group spent more than HUF 13 billion on the renovation and reconstruction of the hotel, the companyʼs 12th in the capital.
Speaking at the ceremony, Minister of Foreign Affairs and Trade Péter Szijjártó said the project was financed in part by a HUF 8.2 billion loan from Magyar Eximbank.
The Párisi Udvar Hotel is part of the "Unbound Collection" brand of Hyatt Hotels Corporation.