Marriott International manage the future Blaha Center Hotel in Budapest
The hotel is currently under construction, it is completed at the end of 2009.
Ablon Group Limited, leading real estate owner and developer in Central and Eastern Europe, has announced that Marriott International Inc., a worldwide operator and franchisor of hotels and related lodging facilities, has signed a 30-year management contract for Blaha Center (previously called Europeum), Ablon Group's Hotel development in central Budapest.
Blaha Center will consist of 235 rooms as well as 5,500 square meters of retail space, and 320 parking places. The total cost of the project is estimated to be EUR 40 million while net operating income from the project, including income from the hotel, parking and retail space, is expected to reach around EUR 4.5 million per year for the Company.