CPI Europe sells Budapest hotel for €115m to Hungarian investors

A consortium of Hungarian investors, the BDPST Group and Diorit Private Equity Fund, is acquiring the Budapest Marriott Hotel from CPI Europe in a deal worth over €115 mln.

Budapest Marriott

The sale follows an open international tender, and the transaction is subject to customary closing conditions, including regulatory approvals.
Marriott International will continue operating the hotel under its current brand following the change of ownership.
István Tiborcz, owner of BDPST Group, said: “The Budapest Marriott is one of the city’s best-equipped hotels and fits perfectly with our broader strategy in the capital. We see long-term potential in this asset, both financially and strategically, through group-level synergies with our other properties downtown.”
Álmos Mikesy, president and CEO of Gránit Asset Management, added: “For our investors, long-term value creation is always paramount. The Marriott’s central location, iconic status, and stable income profile made this a highly attractive opportunity.”
The Budapest Marriott Hotel, constructed in 1969 and operated by Marriott since 1993, features approximately 27,600 square metres of space and 364 rooms. It was part of S Immo’s portfolio since 2005.
The new owners aim to enhance the hotel's service standards and leverage synergies within their existing portfolios.
Oppenheim advised CPI Europe on the sale of the Marriott Hotel Budapest to undisclosed buyers.
In addition, Alfa Group has purchased part of CPI Europe's IRIDE Business Park in Bucharest, along with two land plots, for over €50 mln.
CPI Europe expects to announce further asset sales soon as part of its strategy to dispose of non-strategic holdings.