Hyatt has entered into a management agreement for the first Hyatt Regency hotel in Budapest, Hungary.

The 231-room property, to be built in partnership with Városház Utca Projekt Ingatlanforgalmazó, is expected to open in early 2020.

Hyatt Regency Budapest will be located in the landmark building Postapalota, the former postal office on Petőfi Sándor Street.

Situated near the vibrant Váci Street and a five-minute walk to the Danube river, this upscale hotel will provide the perfect setting for business and leisure travellers to connect with the city.

“The development of Hyatt Regency Budapest demonstrates Hyatt’s commitment to growing the Hyatt Regency brand footprint throughout Central and Eastern Europe,” said Takuya Aoyama, vice president development, Eastern Europe, Russia & CIS at Hyatt.

“We look forward to working with Városház Utca Projekt Ingatlanforgalmazó Kft and believe business and leisure travellers will find the Hyatt Regency Budapest to be intuitive and seamless throughout their stay in the city.”

The hotel will offer spacious guest rooms, generous business facilities with a 4,197 square foot ballroom and more than 6,673 square feet of meeting space.

Further amenities include a lavish spa, state-of-the-art fitness facilities and an indoor swimming pool.

The hotel’s bar and restaurant will be situated within the inner courtyard of the former post office building, offering guests a space to collaborate and socialise with colleagues, relax with friends or family, and recharge during their busy stay in the city.

“We are delighted to bring this landmark building back to life,” said Michael Hutter, owner of Városház Utca Projekt Ingatlanforgalmazó.

“We believe the globally recognised Hyatt Regency brand will help further transform Petőfi Sándor Street to become a sought-after destination for shopping, dining and culture.

“It’s an honour for us to be part of this process and we believe the hotel will be a successful development.”

Hyatt Regency Budapest adds to Hyatt’s growing brand footprint in Hungary and Central & Eastern Europe, which will include the recently announced Párisi Udvar, part of The Unbound Collection by Hyatt, located on Ferenciek Square on the Pest side of the city.

Further additions in the region will include Hyatt Regency Zadar Maraska, Croatia and Hyatt Regency Sofia, Bulgaria.