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Boscolo renovates Budapest luxury hotel

Italian tourism company Boscolo Group will finish renovating Budapest's landmark New York Palace Hotel in the next few weeks, daily Világgazdaság reported.

Boscolo, which began refurbishing the hotel in downtown Budapest in February 2001, has spent ``many billion forints'' (1billion forint = $4.6 million) on the 107-room hotel, Világgazdaság said, citing Andrea Simkó, the hotel's spokeswoman. Simkó, who declined to say when the hotel will open, said rooms will cost between € 250 ($305) and € 2000, the newspaper reported.