Hell Energy subsidiary plans HUF 24 bln hotel in Tata

Deals

Shutterstock.com

Avalon Center, a member of Hell Energy group, is planning on building a 120-room, five-star hotel with a HUF 24 billion investment on the lakeside of the "Old Lake" in Tata (56 km west of Budapest), Hell communications head Péter Pantl said on Tuesday, according to a report by state news wire MTI.

The "Old Lake"

Construction work could take 12 months, Pantl said and it would involve opening a restaurant in a refurbished horse stable and building an underground parking lot.

The investment would create 100 jobs and provide the local municipality with HUF 100 million annual tax revenue.

Avalon already operates a catering complex in Miskolctapolca which employs 170 workers and was built with a HUF 9.5 bln investment.

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months

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.