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Frasers Hospitality enters CEE with Budapest opening

The apartment operator is now open for business on the nine levels of Fraser Residence Budapest, offering 51 studios and additional penthouse accommodation.

The facility is targeting a clientele of business, as well as leisure travelers, near Corvin Promenade, a frequented location in Budapest. As such, it looks to capitalize on the proximity of retail, recreational and cultural facilities part of the giant Corvin-Szigony venture, currently developed by Hungary’s Futureal.

“Fraser Residence Budapest will bring a totally new dimension to the serviced apartment scene in the city. The style of Frasers Hospitality will be an attractive alternative for both long and short stay guests looking for quality accommodation in Budapest. It is a very exciting time for us to open the company’s first property in Eastern Europe as the group expands its worldwide network,” said Alain Goetschel, general manager of the complex.

The owner of the building has invested €4 million in the necessary developments.

Besides the studio apartments, Fraser Residence Budapest also boasts penthouses, along with various services, such as 24-hour reception, fully equipped kitchens and laundry facilities, which the company stresses all contribute to giving its guests a “luxurious” experience.

Budapest brings the company’s portfolio in Europe to 14 with nine in London, two in Scotland (Glasgow and the recently re-branded boutique hotel property in Edinburgh), and two in the center of Paris. A further property in Istanbul is due to open in late April.  The company now has close to 5,500 apartments worldwide and expects to open more than 1,500 this year.