An agreement has been signed between BDPST Group and Budapest Thermal Baths and Thermal Baths Co.
DOME Kft., a member of the BDPST Group portfolio, and Budapest Spa and Thermal Baths Co. (BGYH) have entered into an agreement to sell certain areas of Hotel Gellért and Gellért Bath. The transaction aims to enable both facilities to operate independently of each other, while supporting each other, following the renovations.
DOME Kft. and Budapest Spa and Thermal Baths Co. (BGYH) have signed a sale and purchase agreement for certain areas of Hotel Gellért and St. Gellért Bath and Swimming Pool. The Budapest Metropolitan Assembly approved the agreement in its February meeting.
The common goal of DOME Kft., a subsidiary of the BDPST Group, and BGYH is that, following the mutually beneficial acquisition for both parties, Gellért Bath and Hotel Gellért will be able to operate independently in the future. The agreement not only ensures the operation of the hotel, but also contributes to the development of the spa, reducing its financial burden and guaranteeing long-term stability and the implementation of developments. The transaction allows the previously separated areas – basements, corridors, warehouses, office areas – to be given a new, more efficiently utilized role in the two facilities, supporting their operation.
Opened in 1918 and popular from the beginning, Gellért Baths became world-famous in a short time. They are a true jewel of Budapest, having undergone only one major renovation since their opening, back in the 1970s. The reconstruction of the spa means both the timely technical modernization of the facility and the strengthening of the guest experience – preserving our architectural heritage and the tourist attraction of the place.
“Our company has launched a complex spa renovation program, the highlight of which is one of our flagships, the Gellért Bath. The agreement just signed creates clear ownership relations between the Gellért Hotel and the Gellért Bath that are easy to manage for both parties, and this will help with the reconstruction work of the bath and its subsequent operation. According to our plans, we will temporarily say goodbye to the bath in the fall of this year in order to begin preparations for the renovation and allow the patinated bath to shine in its former glory again in 2028,”
– stated the Budapest Thermal Baths and Thermal Baths Co., Ltd.
Related news
Visit Hungary: hotels in the capital welcomed almost 100 thousand guests during the Formula 1 race weekend
During this year’s Formula 1 race weekend, the capital’s hotels…
Read more >GVH has launched a new investigation into the accommodation booking platform Booking.com
The Hungarian Competition Authority (GVH) has initiated competition supervision proceedings…
Read more >Fewer guests in Romania spent slightly more nights in accommodation in June than last year
In June, 2.2 percent fewer tourists stayed in tourist accommodation…
Read more >Related news
Dole offloads fresh-veg arm to Arable Capital
Dublin-headquartered Dole has sold its fresh vegetables division in the…
Read more >Wolt Announces New Partnerships To Drive ESG Initiatives
Finnish food delivery firm Wolt has announced two new strategic…
Read more >Colruyt to install smart cameras at all checkouts
Belgian supermarket chain Colruyt is rolling out its “easy check-out”…
Read more >