Julius Meinl Living buys Budapest property for new hotel

Julius Meinl Living, a hotel group controlled by the Julius Meinl family, has acquired a prime property on Hegedű utca in Budapest to develop "The Julius Budapest," slated to open in early 2029. 

The Julius Prague

This follows the success of The Julius Prague, which opened in 2022 and recently earned a Michelin Key. The Julius Bucharest is expected to open in late 2027.
Budapest is seen as a highly attractive market, evidenced by 17.5 million airport travelers and 9.8 million accommodation nights in 2024, showing significant growth over 2023. The city also boasts the highest share of luxury rooms in Central and Eastern Europe. The acquired 1,991m² plot, in a prestigious central district near luxury boutiques and the State Opera House, includes a 512m² existing building and a cleared area for new construction. Julius Meinl Living plans to redevelop the existing structure and build new sections, resulting in a 9,910m² property with 118 rooms and apartments averaging 34m².
The project benefits from an existing hotel construction permit, which Julius Meinl Living intends to modify. Construction is expected to start within a year and last just over two years. Funding will come from the Julius Meinl Living group and senior bank debt, currently under discussion. Like The Julius Prague, The Julius Budapest aims for LEED Gold certification or higher.
This acquisition is part of Julius Meinl Living's strategy to expand its Julius brand of luxury, apartment-based, low-operating-cost hotels in major European capitals. The company is actively pursuing further pipeline opportunities and has raised €16 mln in new capital since late 2024 through its EMTN bond programme and The Julius Fund to support this expansion.