4* Hotel in Budapest
4 * City Hotel in central location of Budapest
The hotel is located next to the biggest urban development project in Budapest.
The new city centres’ built environment – its aesthetic values and functionality - rivals the best in Europe.
The Promenade provides a new quality of life for those who live or work in the area.
The widest pedestrian mall of Budapest is being built along the lengthwise axis of the area, coupled with green public spaces and interior gardens.
The renovated quarter’s heart will be the promenade, on either side of which you will find shops and services, restaurants and coffee houses, apartment buildings, cultural institutions, office buildings.
Useful area: 2424 m2
Plot area: 574 m2
Number of rooms: 66
Reduced mobility rooms: 2
Non-smoking rooms: 64
Bar(s): Lobby Bar
Meeting rooms: for 120 persons, dividable for two separate rooms
24 hours reception
Parking: Guarded parking house opposite the hotel
The modern rooms reflect 4-star standard. All of the rooms are air-conditioned and equipped with TV, radio, telephone, safe, hairdryer and WIFI access.
Info and business services:
Internet access/ WIFI (at the hotel/in the rooms),
High speed internet,
Shoe shine machine,
LOCATION & INFRASTRUCTURE
The hotel is located in a vivid and historic part of Budapest.
Its accessibility is excellent from all directions by car (M3, M1, M7, M5 highway), by number 4-6 tram and also from the Budapest Airport.
The city’s business and entertainment centres and institutions are accessible within a few minutes’ walk from the hotel, as well as it is close to Budapest’s most famous landmarks, museums.
The property is owned by an SPV - Special Purpose Vehicle that fully owns the operating company.
The rental contract is concluded between the owner company and its 100% owned affiliate.
Current loan facility (as of 12/31/2015):
Financing bank is Erste Bank Hungary in two tranches.
The amortization mature is 30. June 2031, the repayment is quarterly, including principal and interest.
The outstanding loan amount is
(i) 913.977.307,- HUF NHP II. type loan denominated in HUF with a fixed interest rate of 2,5%,
(ii) 584.391,- EUR, denominated in EUR, with a variable interest rate 3 M EURIBOR + 3,5%.
Key operational figures
Total revenue: 708.959,- EUR,
EBIDA: 332.084,- EUR, 47 %
Total revenue: 790.309,- EUR,
EBIDA: 439.229,- EUR, 56%
Project price: 8.000.000 EUR
(SPV - Special Purpose Vehicle or property deal)
Contact: Robert Hauer
Mobile: +43 680 4401352