In addition, the leading Chinese manufacturing company will be able to utilize outdoor areas, newly constructed service facilities, and a 20,000 sqm testing zone in adjacent areas.
A construction and agricultural machinery manufacturing constructor, Zoomlion Heavy Industry Science and Technology has been present in Hungary since 2021. This new development represents a significant milestone in the company’s local growth trajectory.
The location of CTPark Tatabánya, with connectivity to major transit routes and its proximity to Budapest, Bratislava, and Vienna, was a critical factor in the decision. Another key consideration was the logistics park’s position within the rapidly growing industrial zone of the Tatabánya-Komárom region, one of Hungary’s fastest-expanding economic hubs. That will allow the Chinese firm to “fully focus on our production and logistics activities,” said Yongxiang Wang, co-president of Zoomlion.
“CTP not only develops and retains ownership of its real estate portfolio over the long term but also delivers exceptional property management services. This includes providing sustainable energy solutions cost-effectively and ensuring efficient maintenance with rapid response times, guaranteeing top-quality service for its tenants,” the firm said.
“We chose CTPark Tatabánya as the base for our operations because CTP offers high-quality, sustainable properties and services, allowing us to fully focus on our production and logistics activities,” Wang noted.
“We are excited to fully leverage our newly established localized factory to provide products and services to both local and European customers with greater efficiency and convenience. This strategic move will not only enhance our operational capabilities but also strengthen our service delivery in the region,” he commented.
CTP owns and operates more than 6 million sqm of space in CEE and has a total of 1.8 million sqm under construction and a landbank of around 26.4 million sqm.
“We leased a record 1.2 million sqm in 2024, 70% more than the last year. This illustrated the continued strong demand in CEE and the robust growth potential of the business-smart region in Europe. As the supply-demand balance remains healthy, we realized robust rental growth in the year,” commented Remon Vos, the founder and CEO of CTP.
CBRE anticipates the delivery of 800 Budapest hotel rooms in nine hotels for the year. Further ongoing investments will add 3,700 rooms to the Budapest hotel market in the coming years. Nationwide, 2025 could bring the delivery of 10 hotels and 1,000 additional rooms according to the consultancy’s database.
This includes the first Marriott-branded hotel in the Lake Balaton area with the delivery of the 102-room Le Meridien in Balatonfüred and the first branded hotel at Debrecen Airport, the 73-room Ibis Styles.
“In terms of new hotel openings in Budapest, 2024 fell short of the record year 2023, when nearly 1,500 hotel rooms entered the market,” comments CBRE. “However, that year was exceptional as several developments were delayed due to COVID, resulting in the opening of 10 hotels.”
Three hotels opened in Budapest in 2024 as guest nights surged to nine million, representing a 10% rise. The delivery of the five-star Kimpton Hotel has extended the number of five-star and five-star superior hotels in Budapest to 21, totaling almost 4,000 rooms. Budapest is thus catching up with Vienna, where 25 five-star hotels offer more than 4,500 rooms.
Beyond Budapest, five new hotels opened in 2024, representing 434 rooms. The first Hilton-branded hotel outside the capital delivered 101 rooms with the opening of the Hilton Garden Inn Debrecen City Center. The development is seen as capitalizing on a growing business hub and center for automotive andbattery manufacturing.
Looking across a two-year time horizon, CBRE anticipates the addition of a further 11 hotels consisting of 1,880 rooms that are currently under construction and expected to be delivered between 2026 and 2028. An additional 11 hotels comprising 1,828 rooms are in the planning phase.
If all these projects come to fruition, the Budapest hotel market could expand by 3,700 rooms by the end of 2028. However, the countryside pipeline appears to be shrinking, with around 1,000 rooms at the planning stage and expected to be completed by the same year.
The average room occupancy rate for Budapest was 67.9% for 2024. Budapest Airport reached a peak with more than 17.5 million passengers, exceeding 2019 levels by 8.7% and representing a 19% year-on-year growth. The development of another terminal has been announced at the now government-owned airport to increase annual passenger traffic to 20 million by 2030. The second Budapest airport hotel to be developed by Wing will open this year under the Tribe brand with 157 rooms. The picture also looks rosy beyond Hungary.
“The hospitality industry in CEE and SEE region has proved its resilience and ability to rebound quickly. […] We have seen a steady growth in the number of tourists visiting the region, as well as a rise in the number of luxury and boutique hotels and expansion of existing hotel chains on the CEE hotel markets,” CBRE notes.
This article was first published in the Budapest Business Journal print issue of March 7, 2025.
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