The internationally renowned Mandarin Oriental Group will operate Budapest’s iconic Gellért Hotel, which is expected to reopen its doors in 2027 following a comprehensive and value-creating renovation. The development, undertaken by the BDPST Group, aims to transform the hotel into a standout and unique element of the capital’s tourism palette, honoring its historical heritage.

The Gellért Hotel, owned by the BDPST Group, will undergo a comprehensive renovation in accordance with heritage conservation regulations starting in 2024. It is expected to reopen in 2027 as the first Mandarin Oriental-operated hotel in Hungary. The agreement with the CNBC-recognized Best Luxury Hotel Brand marks a significant milestone, as the reopening of the iconic hotel will be realized in collaboration with a globally recognized company with a prestigious professional history, making Budapest even more attractive to luxury and culture enthusiasts.

According to preliminary plans, the Gellért Hotel will feature 143 guest rooms and 38 suites, with a timeless and elegant design by the London-based interior design studio Alexander Waterworth Interiors Ltd. Due to wartime damages and subsequent reconstructions, the original interiors of the building were practically destroyed. The investor-developer aims to reconstruct the four most iconic interior spaces – the Lobby, the Danube Room, the Music Room, and the Tapestry Room – in line with their original splendor, based on surviving photos and plans. In addition to the complete renovation of the building, the goal of the investment is to integrate new functions that contribute to expanding and improving the range of available services, restoring the building’s “golden age” with 21st-century innovations, environmental and energy-conscious elements. The BDPST Group also considered it a priority for locals to once again take pride in the building, primarily catering to the needs of the community through its restaurants, as it did in the past.

“The Gellért Hotel is perhaps the most iconic building in Budapest, one that is close to the hearts of most Hungarian people. While we view it as an exciting real estate development project, we also bear tremendous responsibility towards both the building and its history, as well as the residents of Budapest. That’s why it was particularly important for us to entrust the operation of this historic building to a company of such caliber. The Mandarin Oriental, a luxury hotel brand with over 60 years of experience, meticulously combines this expertise with the culture of the respective country, highlighting unique design elements while respecting the heritage and Hungarian roots of the Gellért Hotel,” said István Tiborcz, owner and President of the BDPST Group. “Value preservation and creation have always been of paramount importance to the group, so our goal is to restore the former glory of the Gellért Hotel, passing it on to future generations,” he added.

The partnership between the Gellért Hotel and Mandarin Oriental is significant from historical and cultural perspectives. The Gellért Hotel contributes to Budapest’s tourism appeal, while Mandarin Oriental, as a recognized global brand, brings exceptional elegance and a rich history. The collaboration also provides an opportunity for Hungarian professionals working on the project to absorb the unique know-how of the Group and use it for the development of the Hungarian tourism sector. The collaboration between the two groups could open a new chapter in Hungarian tourism.

Both brands share values that contribute to maintaining the Gellért Hotel’s status as a defining symbol of Budapest, known not only in the region but also across Europe. Mandarin Oriental is one of the most recognized management groups globally, operating a limited number of around 38 hotels, thereby increasing the unique and traditional value of the hotels.

Laurent Kleitman, Mandarin Oriental Hotel Group’s Chief Executive, explains:

“We will take the same meticulous approach in Budapest as we have with our other historic properties, ensuring that we honour and respect local artisanal craftsmanship and Hungarian cultural heritage, while incorporating the finest luxury, contemporary comfort and sustainability standards for which Mandarin Oriental is renowned.”

 “We are excited to be bringing Mandarin Oriental to Hungary for the first time, and to witness this true legend of European hospitality rise again, enabling future generations of discerning travellers to craft their own stories and experiences from within its famous walls. Mandarin Oriental Gellert, Budapest, together with our property in Prague and our recently announced project in Vienna, will form a compelling trinity of destinations for our fans in central Europe,” continued Laurent Kleitman.

The hotel possesses unique features not only in Hungary but also in Europe. In addition to the Art Nouveau atmosphere, its own thermal spring, and the motto “Nothing is impossible at the Gellért Hotel,” the hotel will continue to emphasize gastronomy. In homage to Károly Gundel, who led the hotel’s restaurant between 1927 and 1947, turning it into the culinary stronghold of Budapest, the hotel will focus on providing exceptional culinary experiences.

In the future, alongside diverse wellness services, the Gellért Hotel will feature a unique rooftop pool with a retractable glass roof, a thermal water pool, a cold plunge pool, and an outdoor relaxation area. Additionally, a rooftop bar will offer panoramic views of the Pest side of the city and the Danube.

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About BDPST Group

Founded in 2015, BDPST Group is a dynamically growing capital investment company. Its strategic goal is to become a group of companies with a strong economic vision, cross-sectoral and internationally competitive, and an outstanding market performance. The group manages a number of investments in the tourism real estate market, the financial sector and logistics. The Group is committed to the principles and practices of economic, social, and environmental sustainability. Therefore, it seeks investments that meet these criteria and contribute to the preservation of Hungary’s architectural heritage and the creation of value in the real estate market.

About Mandarin Oriental Hotel Group

Mandarin Oriental Hotel Group is the owner and operator of award-winning hotels, resorts, and residences. For over 60 years, Mandarin Oriental has played a leading role in the luxury hotel industry. Their long history dates back to 1963 when they opened their flagship hotel, named Mandarin, Hong Kong. Evolving from their initial Asian roots, they have grown into a global brand, currently managing 38 hotels and 10 residences in 25 countries. Reflecting the Eastern heritage, local culture, and unique design of Mandarin Oriental, the group has become synonymous with luxury and excellence.

The CNBC American news television channel, primarily focused on economic and financial news, as well as stock market and market events, ranked Mandarin Oriental at the top of the list of Best Luxury Hotel Brands.

About the Gellért Hotel

The extensive history of the Gellért Hotel and Bath encompasses the thermal water hospital, the Virgin’s Bath, which was replaced in the early 20th century by the Gellért Hotel and Bath, one of the most modern hotel complexes of its time. In 1901, the city of Budapest purchased the area, and the luxury hotel, designed by architects Artúr Sebestyén, Ármin Hegedűs, and Izidor Sterk, shone in the splendor of Art Nouveau when it opened its doors in 1918 with 176 rooms.

The Gellért Hotel is the country’s first Hungarian Grand Hotel. The building introduced numerous innovations and world-famous solutions: it was the first hotel where guests could pay with the currency of their own country. This hotel was the first to use airport transfer cars, and guests’ rooms featured the first minibars. The Gellért Hotel restaurant was also the first to implement Swiss plate service.

The golden age of the Gellért Hill and the Gellért Hotel was in the 1930s when it became the center of Budapest’s social life, attracting numerous world celebrities. Writers, filmmakers, actors, aristocrats, and foreign guests alike found their place in this grand hotel. The Gellért Hotel and Bath gained global recognition for its unique elegance, sophistication, and Art Nouveau ambiance, allowing guests from all over the world to participate in its rich cultural life. The Gellért Hill and the Gellért Hotel continue to be iconic venues in Budapest, evoking the beauty and elegance of the past for visitors.

Returning guests included the Maharaja of Kapurthala, Jimmy Walker, the Mayor of New York, who flew from Vienna to Budapest just to have lunch at the Gellért Hotel restaurant in the company of American producer Gilbert Miller. Other notable guests included Reza Pahlavi, the Shah of Iran, the King of Nepal, the Dalai Lama, Richard Nixon, Jane Fonda, Turay Ida, Páger Antal, Habsburg Otto, and Yehudi Menuhin.