CHICAGO (October 2, 2017) – Hyatt Hotels Corporation (NYSE: H) today announced plans for the Párisi Udvar Hotel in Budapest – joining Hôtel du Louvre in Paris as the second hotel in Europe for The Unbound Collection by Hyatt and third outside of the U.S.
Hyatt has entered into a franchise agreement with Párizs Property Kft for the project, which will see Brudern House in downtown Budapest converted into an upper-upscale 110-room hotel. The Párisi Udvar Hotel is expected to open in 2018 and will be managed by Mellow Mood Hotels, a leading Hungarian hotel operator.
The 20th century building is known for its eclectic design that offers a rich history and sense of place that will fit the brand’s promise of creating story-worthy and shareable experiences for the modern traveler. The building was completed in 1931 and remained relatively undamaged during the second World War after which the upper floors were converted into apartments. It has so far escaped major renovations, making it a unique treasure from the past. The future hotel incorporates elements from Moorish, Art Deco and Neo Gothic styles, representing the best of Hungary’s architecture. It has been home to shops, apartments and offices, as well as the Jégbufe ice-cream parlor fondly remembered by many local residents.
The building is located on Ferenciek Square on the Pest side of the city, within a stone’s throw from the famous pedestrian area of Váci Street, bustling with cafés, theatres and shops.
The hotel will feature 110 guest rooms and suites, 300 square meters of indoor meeting space, a spa and fitness center, restaurant, bar and café. The food and beverage outlets will be situated within the Párisi Udvar arcade, under the splendour of the building’s colored glass ceiling and hexagonal cupolas, offering guests a truly unique place to socialize and relax.
The Unbound Collection by Hyatt launched in March 2016 and has since grown to five properties currently in operation, with additional properties in development for the brand. Whether it is a fascinating past – as with Párisi Udvar Hotel – an exclusive location, famous architecture and design or an award-winning dining experience, each property maintains a distinct character and the freedom to be unique, while still providing guests with Hyatt’s customer loyalty program, robust operational and marketing resources and trusted, quality brand.
“We are delighted to collaborate with Párizs Property Kft and Mellow Mood Hotels to convert this iconic building into the second hotel for the brand in the region. The Unbound Collection by Hyatt is an ideal fit for the hotel, which boasts an incredible storied history and some of Hungary’s most impressive architecture,” said Peter Norman, Senior Vice President, Acquisition & Development Europe, Africa, Middle East and Southwest Asia at Hyatt. “We look forward to continuing to grow this brand globally in a strategic and meaningful way.”
“Párizs Property Kft and Mellow Mood Hotels are extremely proud to have the opportunity to give back this renowned landmark building to Budapest, and it is a great honor to collaborate with Hyatt on this prestigious project. Our expansion in Budapest is a strong statement of our confidence in the local market and an opportunity to contribute to the growth of the tourism industry in Hungary”, said Zuhair Awad and Sameer Hamdan, both Managing Directors at Mellow Mood Hotels.
Other properties in the collection currently in operation include The Confidante in Miami Beach, Florida; The Royal Palms in Phoenix, Arizona; The Driskill Hotel in Austin, Texas; the Hôtel du Louvre in Paris, France; and the Carmelo Resort & Spa in Carmelo, Uruguay.
For more information about The Unbound Collection by Hyatt, click here.
