IHG Hotels & Resorts has announced the signing of Kimpton Budapest in Hungary under a management agreement with the property’s owners Mam Buda Project, a subsidiary of Market Asset Management.

Set to open in early 2025, the 127-key hotel will be the first Kimpton in the country when it arrives in the historic Jozsef Bem Square on the Buda side of the River Danube. When open, it will offer spacious and thoughtfully designed rooms with a touch of playfulness alongside destination dining and a rooftop bar.

“Budapest is one of Europe’s most popular destinations, with UNESCO world heritage sites as well as rapidly growing corporate demand as a local business hub,” says Willemijn Geels, VP of Development for Europe at IHG Hotels & Resorts. “It is an ideal fit for our Kimpton brand, whose heartfelt, personalised service and bold design will resonate with this vibrant city. We’ve seen just how well our luxury boutique offering has been received in Europe, and this new signing only reinforces momentum for Kimpton’s international expansion.”

Sándor Scheer, Chairman of Market Asset Management, comments: “We are excited to work with IHG Hotels & Resorts to bring Kimpton to Budapest. We have seen the success of the brand across Europe and are thrilled to be bringing a unique and distinct luxury offering to Budapest, capturing a new corner of the market.”

Kimpton first debuted in Europe in 2017 with the opening of Kimpton De Witt in Amsterdam, and since then has increased its footprint across the continent from Paris and Barcelona to London and Edinburgh. There is now a total of seven* Kimpton hotels open across Europe, with a further four* in the pipeline, covering locations from Mallorca to Frankfurt. Globally, there are 75* open Kimpton hotels and 32* in the pipeline.

This signing follows the recent launch of Crowne Plaza Budapest. IHG Hotels & Resorts currently has three* properties in Hungary, operating under the InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts and Holiday Inn Hotels & Resorts brands, with an additional two* currently in the development stages.

*Numbers as at 30 September