The FINANCIAL -- The Ritz-Carlton Hotel Company, L.L.C. has signed a deal with Al Habtoor Group, the UAE based conglomerate, which will see the opening of the first property from the luxury brand in the Hungarian capital.
Located in the heart of Budapest, the 192 room hotel overlooks Erzsébet square with commanding views of St Stephen’s Basilica. The property will undergo an extensive renovation set to commence at the beginning of 2016 and is due for completion in the second quarter, making it a stunning member of a portfolio of hotels known for its exacting service and exceptional attention to detail, according to Marriott.
“Hungary represents the next great international expansion opportunity for The Ritz-Carlton,” said Herve Humler, President and Chief Operating Officer. “We are especially pleased that our initial presence will be in Budapest, the country’s principal political, cultural, and commercial centre,’ he added.
Budapest is home to some of Europe’s most impressive historical architecture, such as the Buda Castle, the Chain Bridge, Heroes’ Square, the Parliament and St. Stephen’s Basilica. It is widely known as a popular tourist destination in Central Europe; home to a number of World Heritage Sites such as the banks of the River Danube, the Buda Castle Quarter, Andrassy Avenue, Heroes Square and the Millennium Underground Railway (the second oldest in the world).
“We are delighted to be partnering with the Ritz-Carlton for such an exquisite property to build on our unique portfolio of hotels. We are bringing together two of the best names in the business, both dedicated to offering world-class luxury and hospitality. We look forward to welcoming guests to experience the renewed property in early 2016, said Mohammed Al Habtoor, Vice-Chairman and CEO, Al Habtoor Group.
The Ritz-Carlton Hotel Company adds another European capital to the growing portfolio of destinations in which global travellers will find the luxury hotel company’s award winning service, due to reach 100 hotels by the end of 2016.