The Ritz-Carlton Hotel Company To Open Doors In Budapest, One Of The Most Beautiful Cities In Europe
Known for innovators and dynamic thinkers, Hungarian city to welcome The Ritz-Carlton in 2016
CHEVY CHASE, Md., May 5, 2015 /PRNewswire/ -- The Ritz-Carlton Hotel Company, L.L.C. has signed a deal with Al Habtoor Group, the UAE based conglomerate, which will see the opening of the first property from the luxury brand in the Hungarian capital.
Located in the heart of Budapest, the 192 room hotel overlooks Erzsebet square with commanding views of St Stephen's Basilica. The property will undergo an extensive renovation set to commence at the beginning of 2016 and is due for completion in the second quarter, making it a stunning member of a portfolio of hotels known for its exacting service and exceptional attention to detail.
"Hungary represents the next great international expansion opportunity for The Ritz-Carlton," said Herve Humler, President and Chief Operating Officer. "We are especially pleased that our initial presence will be in Budapest, the country's principal political, cultural, and commercial centre," he added.
Budapest is home to some of Europe's most impressive historical architecture, such as the Buda Castle, the Chain Bridge, Heroes' Square, the Parliament and St. Stephen's Basilica. It is widely known as a popular tourist destination in Central Europe; home to a number of World Heritage Sites such as the banks of the River Danube, the Buda Castle Quarter, Andrassy Avenue, Heroes Square and the Millennium Underground Railway (the second oldest in the world).
"We are delighted to be partnering with the Ritz-Carlton for such an exquisite property to build on our unique portfolio of hotels. We are bringing together two of the best names in the business, both dedicated to offering world-class luxury and hospitality. We look forward to welcoming guests to experience the renewed property in early 2016," said Mohammed Al Habtoor, Vice-Chairman and CEO, Al Habtoor Group.
The Ritz-Carlton Hotel Company adds another European capital to the growing portfolio of destinations in which global travellers will find the luxury hotel company's award winning service, due to reach 100 hotels by the end of 2016.
About The Ritz-Carlton Hotel Company, LLC
The Ritz-Carlton Hotel Company, L.L.C., of Chevy Chase, Md., currently operates 88 hotels in the Americas, Europe, Asia, the Middle East, Africa, and the Caribbean. More than 30 hotel and residential projects are under development around the globe. For more information or reservations, visit the company web site at www.ritzcarlton.com, and for the latest company updates, visit news.ritzcarlton.com. The Ritz-Carlton Hotel Company, L.L.C. is a wholly-owned subsidiary of Marriott International, Inc. (NASDAQ:MAR).
NOTE: The statements about the future openings of Ritz-Carlton hotels are "forward looking statements" within the meaning of federal securities laws, not historical facts, and are subject to a number of risks and uncertainties, including supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; the availability of capital to finance hotel growth; and other risk factors identified in Marriott International, Inc.'s most recent quarterly report on Form 10-Q; any of which could cause actual results to differ materially and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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SOURCE The Ritz-Carlton Hotel Company, L.L.C.
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