DVM Group to build new hotel in Budapest

DVM Groupsigned a deal with German developer B&L Gruppe to build a new hotel in Budapest. Intercity Hotel will go up near the Keleti Railway Station. The three-star property will offer 310 rooms, a bar, restaurant and conference center on 26,000 sqm. There will also be underground parking for 200 vehicles. Plans also call for a residential complex with 45 apartments. Completion is planned for 2020. “This is our first complete hotel construction project, and we are extremely pleased that, after thorough negotiations, a prestigious German developer chose us to realize its first Hungarian project. This mandate is an important milestone to further increase the proportion of instructions received from the open market,” said Tamás Sellyey, operational and sales director of DVM Group.