Hotel Online  Special Report



  Four Seasons Hotel Gresham Palace Budapest
Opens After a $110-million Restoration


TORONTO, June 21, 2004 - Four Seasons Hotels and Resorts is pleased to announce the opening of its first property in Hungary, in the historic Gresham Palace on the banks of the Danube River in Budapest. Located at the foot of the Chain Bridge, the property is the rebirth of a century-old palace, acclaimed as one of the world's finest Art Nouveau buildings. After a $110-million restoration, the 179-room Hotel is a prominent landmark in the city that combines the luxurious comforts of the 21st century with the meticulous craftsmanship of yesteryear. A spa and fitness centre, an indoor pool, two restaurants plus bar and lounge, and meeting space round out the guest experience.

"Four Seasons Hotel Gresham Palace Budapest is a significant addition to our growing portfolio of distinctive European properties," said Wolf Hengst, president worldwide hotel operations, Four Seasons Hotels and Resorts. "Guests of the Hotel will experience the art and culture of Budapest from a luxurious home base, with the best location in the city."

From its birth in 1906, the Gresham Palace has intrigued residents and visitors alike for its magnificence as one of the world's finest Art Nouveau/Secessionist structures. Originally built as the lavish head office of the Gresham Life Assurance Company, in the early days, the building was also a prestigious residence for aristocracy. Following the war and throughout the Communist era, the building gradually fell into disrepair, but it got a new lease on life in the late 1990's when Four Seasons agreed to participate in the restoration and conversion to a luxury hotel.

In addition to the history and architecture of the building, Four Seasons welcomes guests to enjoy modern spa treatments in a country renowned for its rich spa heritage. The Hotel features a 12 m (39-foot) infinity-edge lap pool as well as massage and treatment rooms, sauna, whirlpool, steam rooms and exercise room.

Four Seasons staff has been working closely with local food producers and wineries to develop a unique dining experience that ranges from light Italian cuisine to new interpretations of traditional Hungarian dishes, served in an elegant Art Nouveau setting. 

With the opening of the Budapest Hotel, the Four Seasons European collection will include 10 properties. Multi-destination packages will combine Four Seasons properties in Budapest with nearby Prague and Berlin.

With a history spanning four decades and a portfolio that extends worldwide, Four Seasons Hotels and Resorts is the world's leading operator of luxury hotels, currently managing 62 properties in 29 countries.

 Four Seasons Hotels and Resorts
Also See: Budapest: Market Profile / Deloitte & Touche / October 2002
Four Seasons Records 2004 1st Qtr Net Earnings of $11.5 million Compared to a Loss of $9.3 million in Prior Year; Expects to Add 14 New Hotels by End of 2005 / Hotel Operating Statistics / May 2004

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