Konzum acquires 100% of Hunguest Hotels


wikimedia commons

Konzum, a holding company owned by the property developer Gellért Jászai, has acquired 100% of Hunguest Hotels through two of its units, Konzum announced in a statement published on the Budapest Stock Exchange late Monday.

Hotel Palota in Lillafüred, which remains in Leisztingerʼs ownership (photo Wikipedia Commons).

The company acquired a total of 14 Hunguest Hotels units, Jászai told Hungarian daily Magyar Idők this morning. Citing business confidentiality, the purchase price of the units was not disclosed, though Jászai said state-owned Magyar Eximbank had financed “less than 15%” of the price with a HUF 3.3 billion loan. 

Sun Resort in Montenegro, Hotel Heiligenblut in Austria, Hotel Forrás in Szeged and Hotel Palota in Lillafüred, the latter two both in Hungary, remain under the ownership of investor Tamás Leisztinger, Hungarian news agency MTI reported. However, these hotels will operate as franchise members in future, Leisztinger noted.

Hunguestʼs revenue has risen almost 20% in the last five years to reach net HUF 13 bln last year, Leisztinger added, according to MTI. Jászai said he is planning to renovate the hotels and expand further as strategic goals, but added that the focus would remain on Hungary and domestic tourism, according to MTI.


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

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors


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.