Klotild Palace Hotel Budapest Construction Starts
- 8 Dec 2015 8:00 AM
Turkish hotel chain Özyer will begin renovation work in the southern Klotild Palace building at downtown Ferenciek tere in the next few days, website Napi reports. The Ft 10 billion project to convert the 114-year-old structure into a hotel is to be completed by early 2018. The Özyer group paid 89% of the purchase price for the building to the Fifth District in 2014 and the remainder last month, a total of Ft 2.7 billion.
The 156-room hotel will have an international environmental certification, the first of its kind in Hungary.
An international chain will operate the new hotel under a contract that will probably be signed in the middle of January, said chief engineer of the project Péter Kemény.
Source: Hungary Around the Clock
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