Hungaria Palace Hotel Project – Szeged

Location

The building for sale, which has a European reputation and a great historic past, is located in the inner city of Szeged, on the bank of Hungary’s second largest river, the Tisza. The building is bordered by a promenade running along the river on one side, and a major artery of the city on the other side.

Information

For further information and viewing arrangements please contact us at:

Email: kata.kokai@quaestor.hu

Telephone: 06-40-10-20-23

Current technical parameters

The building was opened to the public in 1897 under the name Kass Vigadó. Due to its unique architectural solutions it has become one of the three most valuable buildings of the city. After World War I the property was converted into a hotel, which remained operational until 1976, albeit it was nationalised in 1949. The inner city location, as well as the historic past and reputation of the building justify the restoration of its grandeur through renovation. This beautiful landmark, which is of great importance for the cityscape, evokes nostalgia in most local residents. Currently, the building stands empty and unused. Renovation has been started. The designs for a possible eventual appearance were prepared by Ybl Prize winner István Tarnai and his colleagues. The building is currently completed to shell and core, and the final development or conversion of interior spaces can be carried out on the basis of the actual development requirements.

Current technical parameters

Development opportunity

The aim of the renovation concept of the QUAESTOR Group is to enable the refurbished Old Hungaria Hotel to offer complex recreational opportunities to the city’s cultural and heritage, as well as business tourism travellers in a new form, with a new operational concept, and under a new name (Hungaria Palace Hotel). The plan envisages a four star, superior category city hotel with 62 rooms and a capacity of 124 persons. This could make Szeged a more competitive tourist destination, and may yield significant profits for the population and businesses of the city and the region. Following its reconstruction the hotel may become an elegant meeting point for businesses on both sides of the southern border.

The value of the property is enhanced by its unique, listed event and concert hall with a capacity of around 200 people, as well as its monument type, Secession (Art Nouveau) style restaurant that can seat up to 300–400 people. In addition, there is space for two multifunctional and multimedia conference rooms, with a seating capacity of 80 and 40, respectively.

One of the prerequisites of business and event tourism is a wellness & spa centre, which is planned to incorporate the following elements: fitness room, a communal Finnish sauna, and an aroma steam cabin, a hydro-massage bathtub/jacuzzi, a hair salon, as well as beauty, manicure and pedicure units.

Technical parameters of the planned development project

Sale and other opportunities for cooperation

Our company is selling the above property for cash, or through credit or lease arranged by the customer with a third party. Furthermore, the company is looking for an external financial and trade investor for carrying out the development, and for the operation of the hotel.