Oman buys iconic Four Seasons Budapest hotel

Four Seasons to continue operating luxury hotel bought by wealth fund

Owners, Budapest, Four seasons gresham palace hotel, Hungary, State general reserve fund, Sz

The State General Reserve Fund, an Oman sovereign wealth fund, has completed the purchase of the Four Seasons Gresham Palace Hotel in Budapest, Hungary.

Four Seasons Hotels Inc., Toronto, will continue to operate the 179-room luxury hotel. The amount of the sale has not been disclosed, according to media reports.

"We see the hotel as a premier asset in the Budapest market, a market that is in the right phase of the RevPAR/valuation growth cycle, which has the potential to yield significant upside over the longer term," said a State General Reserve Fund representative.

Did you like this story?
Click here for more

The historic Art Nouveau building, which dates from 1906 and is located adjacent to the Széchenyi Chain Bridge on the Pest side, reopened after an extensive renovation in 2004.

“The sale of the property to SGRF, a highly respected long-term international investor, is a testament to their confidence in the Budapest hospitality market and serves as a very positive development for the hotel,” said Antoine Corinthios, president of EMEA for Four Seasons Hotels and Resorts.

For all the latest hospitality news from UAE, Gulf countries and around the world, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page.

Most Popular



Human Capital Report 2017

Human Capital Report 2017

The second annual Hotelier Middle East Human Capital Report is designed to explore the issues, challenges and opportunities facing hospitality professionals responsible for the hotel industry’s most important asset – its people. The report combines the results of Hotelier Middle East's HR Leaders Survey with exclusive interviews with the region's senior human resources directors.

Hotelier Middle East Housekeeping Report 2016

Hotelier Middle East Housekeeping Report 2016

The Hotelier Middle East Housekeeping Report 2016 provides essential business insight into this critical hotel function, revealing a gradual move towards the use of automated management and a commitment to sustainability, concerns over recruitment, retention and staff outsourcing, and the potential to deliver much more, if only the industry's "image problem" can be reversed.

From the edition

From the magazine