Ruby Hotels reveals first project in Hungary

International news

Hungary: Luxury boutique brand Ruby Hotels will open its first property in Hungary, located within the Corvin Palace department store in Budapest.

Corvin Palace, a department store and listed building from 1926, is located at Blaha Lujza Square. The mixed-use conversion will feature a Ruby Hotel with 181 rooms alongside retail and F&B outlets.

The hotel will be spread across four floors of the building. Public areas, including a bar and lounge, will be located on the fifth floor.

Construction is set to begin in late 2025, with the hotel’s opening anticipated by the end of 2026.

Elena Günther-Jakobs, associate director of development for northern and central Europe at Ruby Hotels, said: “Budapest is a city of incredible energy and creativity, making it an ideal destination for our target group. The hotel market in Budapest shows sustainable growth and offers a lot of potential for our ‘Lean Luxury’ concept which we believe fills a gap in the market for stylish, high-quality, yet affordable hospitality options.