Starwood Capital to Acquire Sofitel Budapest Chain Bridge Hotel

By Anna Breuer on 24 November 2017
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The Széchenyi Chain Bridge in Budapest

The Széchenyi Chain Bridge in Budapest

Starwood Capital Group, a private investment firm, announced the acquisition of the Sofitel Budapest Chain Bridge Hotel from Orbis Hotel Group.

The Sofitel Budapest is located near the Széchenyi Chain Bridge, which crosses the Danube River, in Hungary’s capital city. Starwood is acquiring the property for €75 million ($89.4 million), subject to the approval of the European Union Merger Control Office.

The new owners plan an extensive restoration and renovation of the hotel, which will continue to fly the Sofitel flag. The acquisition marks the start of a partnership with Sofitel parent Accor as well as Orbis, which will continue to manage the property.

The hotel offers 357 rooms and suites as well as two restaurants, the Restaurant Paris Budapest and the Restaurant Terrasse, the latter affording unlimited views of the city while dining during clement weather.

“We look forward to investing in this property,” said Keith Evans, vice president for European hotels at Starwood.

(Photo: Accura Media Group)

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