Serviced apartment operator Frasers Hospitality is to open a new property in the Hungarian capital.
The 53-apartment Frasers Residence Budapest will open on September 15. It will have studio, one and two-bedroom apartments, with fully serviced kitchens, lounge and dining areas and state of the art entertainment systems.
The property is situated in Pest, behind the the Corvin Promenade, which is the largest urban renewal programme in Central Europe, said Frasers.
Guus Bakker, Frasers' COO for Europe and the Middle East, said Budapest is the first step into Eastern Europe.
"With Doha opening soon after and our plans for Saudi Arabia and Oman due to be announced shortly, we are on target to achieve significant growth in our market area of Europe and the Middle East."
Oman and Saudi Arabia agreements are expected to be announced in the next months, while Frasers is also working on plans to open in Barcelona, Madrid, Geneva, Zurich, Munich, Frankfurt and Istanbul.
By the end of next year, Frasers plans to have more than 10,000 apartments worldwide, and will have opened its first properties in India.
www.frasershospitality.com