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Hunguest Hotels no longer for sale - paper

The Hunguest Hotels group is no longer for sale and will remain owned by entrepreneur Tamás Leisztinger, business daily Világgazdaság said on Thursday.

The hotel chain was to be acquired by the SCD group as result of an option. However, the SCD group sold its property portfolio at Lake Balaton in August 2011 as well as the option to Magyar Turisztikai Holding. The option could have been exercised before the end of September, but Magyar Turisztikai Holding did not call it, so it has reverted to Hunguest Hotels.