Gresham Palace
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The Gresham Palace (Gresham-palota) is a building in
River Danube, adjacent to Széchenyi Square and the eastern terminus of the Széchenyi Chain Bridge
.
History
The site was once occupied by
Sir Thomas Gresham, the founder of the Royal Exchange
in London.
Originally, the palace served as an office building as well as a residence for senior staff of the Gresham company. During the occupation after
People's Republic of Hungary
. In 1990, following the end of the communist regime, the national government presented the palace to the city of Budapest.
Oberoi Hotels entered into an agreement to manage a hotel in the building in 1991, but ensuing legal battles with residents of the building caused Oberoi to drop out in 1995.[1] In 1998, Gresco Investments Ltd acquired the building and received approval from the Budapest Heritage Board to reconstruct it as a luxury hotel while retaining its original Art Nouveau architecture.[2]
Gresco raised $85 million for renovations and in 1999 Four Seasons agreed to oversee the reconstruction and manage the new property.
In 2001, the building was bought by the Irish investment company Quinlan Private. They extensively rebuilt the structure as a luxury hotel, restoring such original details as a large staircase, stained glass, mosaics, ironwork, and winter gardens. The hotel reopened in June 2004.[3] In November 2011, the hotel was bought by the State General Reserve Fund of Oman, though Four Seasons continues to manage it. It currently has 179 guest rooms, including 17 suites.
References
- ^ a b "Gresham Palace Budapest par Palace Hotels de the World.com". palacehotelsoftheworld.com.
- ^ "Four Seasons".
- ^ Timmons, Heather (27 February 2005). "Budapest's Four Seasons Hotel, Gresham Palace". The New York Times – via NYTimes.com.
External links
Wikimedia Commons has media related to Gresham Palace.
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