UAE's Al Habtoor and Ritz-Carlton combine on Budapest project

The Ritz-Carlton Hotel Company has signed a deal with Al Habtoor Group to open a Ritz-Carlton hotel in Hungary's capital city, Budapest. The 192-room hotel will overlook Erzsébet square with views of St Stephen's Basilica. The hotel will be a conversion project. The property will undergo an extensive renovation set to commence at the beginning of 2016 and is due for completion in the second quarter.

"Hungary represents the next great international expansion opportunity for The Ritz-Carlton," said Herve Humler, Ritz-Carlton pesident and COO. "We are especially pleased that our initial presence will be in Budapest, the country's principal political, cultural, and commercial centre."

"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 portfolio is reportedly due to reach 100 hotels by the end of 2016.