The Client

A commercial property developer based in Budapest.

What did Hotel Solutions Partnership achieve for the client?

Hotel Solutions Partnership Ltd established that the site was in a good location, of good sound construction and would convert easily into a hotel.  Our report detailed the optimum number of bedrooms and how best to accommodate F&B outlets, deliveries and refuse collection points, communal spaces for guests use, as well as Back of House layout.

The client was considering acquiring a commercial building in Budapest and converting it into a 4-star hotel. The client wished to diversity its business into the hotel sector and intended to partner with an experienced operator to manage its hotels.

Client Need

The client required a high-level technical evaluation of the building to assess its suitability for conversion to a hotel. Hotel Sollutions Partnership was also engaged to prepare a preliminary development cost estimate for the project.

Scope of Work

HSP’s technical development expert visited the site in order to provide a Purchaser’s Report, analysing the salient characteristics of the asset and providing a fair and balanced overview of its surroundings, its potential and its constraints.  The Purchaser’s Report addressed the following questions for the client:

• Is the location of the property desirable for both international and local potential customers?
• What is the physical condition of the building?
• Does the building have enough developable space to provide the facilities requiredfor a full-service (4-star) hotel?
• How complex would it be to convert the building into a hotel?
• What are the strengths, weaknesses, opportunities and threats of the property?
• Is the conversion likely to cost more than average? If so, why?