The trustee of the Sultanate of Oman bought the Gresham Palace

One of Budapest's most exclusive hotels, the Gresham Palace Hotel was bought by the State General Reserve Fund (SGRF), that is the trustee of the Sultanate of Oman from the Gresco Zrt.. The Four Seasons Hotels and Resorts will remain the operator of a downtown hotel, so the change in ownership does not affect the hotel business operation.

The five-star hotel still operates as the part of Four Seasons Hotels and Resort portfolio, consists of 85 hotels.

Although the value of the transaction is not known, it is certain that the sale itself is a significantly positive sign, both for the domestic hotel market and the real estate market, because the liquidity level of the domestic real estates is on a very deep level – writes turizmus.com.