DVM has signed a contract with German developer B&L to build its hotel at Baross tér, Budapest, with a scheduled delivery date of 2020, according to a press release sent to the Budapest Business Journal.
B&L Group is a new player on the Hungarian market, and has tasked DVM with both the construction planning and building work of the project. The mandate is one of the largest DVM Group has won on the Hungarian market to date. Planning and preparations started in early November.
The hotel will be located next to Keleti Railway Station, a major transport hub with the metro and various bus, trolleybus and tram services all also operating in the direct vicinity.
The building on the southern side of Baross tér will feature 312 rooms, with another residential building of 45 apartments also being erected at the site. The gross built area will amount to 26,000 sqm. The hotel will be operated by the Intercity chain, part of the Steigenberger Group/Deutsche Hospitality.
"We are extremely pleased that after thorough negotiations a prestigious German developer chose us to realize its first Hungarian project," said Tamás Sellyey, operational and sales director of DVM group. "This mandate is an important milestone to further increase the proportion of instructions received from the open market. The assignment is also another great opportunity to demonstrate the cooperation between our divisions, as well as to exploit the synergies of our unrivaled complex services for the benefit of the clients."
Thorsten Testorp, managing partner of B&L group, said DVM’s "strong local track record and high-quality approach for planning and building supported the decision to choose them as a local new partner for this turn-key development. Hotel developments have their specifics and DVM group is suited to take up the challenge, setting a strong promising precedent for further joint developments in Budapest and the region," he added.
"Budapest is a city with a great past and lots of potential. We are delighted that our brand will soon be able to offer a centrally positioned and modern hotel in such an attractive metropolis," said Joachim Marusczyk, managing director of IntercityHotel GmbH.