The ownership of the Budapest Marriott Hotel has officially changed hands after CPI Europe sold the company holding the hotel through an open international tender. The new owners are a Hungarian consortium consisting of the BDPST Group and the Diorit Private Equity Fund, managed by Granit Fund Management.
This deal is subject to customary closing conditions, including regulatory approvals. Importantly, the hotel will continue to operate under Marriott International’s management.
Accordind to Hungarian media, Tiborcz István already owns several other key hotels in Budapest’s city center, including the Dorothea Hotel and the under-renovation Sofitel Hotel near Budapest Chain Bridge.
CPI Property Group, owned by Czech billionaire Radovan Vitek and one of Hungary’s largest real estate investors, continues its strategy of selling assets in the Hungarian market, an other CEE countries. The sale price is reported to exceed EUR 115 million, with the Marriott Hotel benefiting from a multi-year operational agreement.
This month, CPI Europe closed the partial sale of IRIDE Business Park in Bucharest, Romania, and two attached land plots to ALFA Group. The total transaction value exceeds EUR 50 million.
