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Arie Yom-Tov, one of Hungary's biggest property investors, announced plans to build a €150 million five-star hotel, conference and wellness centre on the outskirts of Budapest.
Yom-Tov will build a 200-room hotel, several free-standing luxury suites and a conference centre with a capacity for 1,600 people. The project is to be completed in 2012.
Yom-Tov, who is from Israel, has invested in Hungary's property market for decades. Among his investments are the Gozsdu Court, the Le Meridien Hotel, the Szinyei Merse House and the Andrássy Palace, all renovated landmark buildings. (MTI – Econews)