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Hotel Corvin Palace ***** Superior Hajduszoboszlo (57 M EUR)


Project details 

Total investment (EUR):57.000.000
Credit (EUR):50.000.000
Equity funding (EUR):7.000.000
Interest rate:4,50 % / year
Credit duration:15 years
Grace period:2 years
Employment:150 people

To become the market-leading accommodation facility in the region with complex touristic services Hajdúszoboszló is one of the most dynamically developing touristic places of Hungary with its Bath Complex which is among the largest ones considering its capacity. Recently, several positive changes have taken place in the wider surroundings of the city. The rapid development of Debrecen Airport, the construction of motorway M3 as far as Debrecen, and, especially, the radical change of the position of the Northern Great Plain Region as a border region of the European Union have resulted in the appreciation of the area. Tourism is a strategic sector of the economy in Hajdúszoboszló, and the continuous improvement of its conditions is a decisive factor in the future of the city.

One of the weaknesses of tourism in Hungary is the lack of high-class hotels in the country cities. A tourist decides on the country first and then on the region. In addition to that, customs have also changed: a tourist intends not only to relax but also to be entertained from the first moment. While the average utilisation of capacities was 68% at the four- and five-star accommodation facilities in recent years, in the case of three-star hotels it was only around 45% in the region and barely 40% in whole Hungary. This fact also proves that the regional seats and the larger country cities should improve their touristic infrastructure by providing high-class business accommodation services. The level of touristic services must be adjusted to the international standards, and it is necessary to establish competitive services as complex as possible, taking the aspects of environment protection and equal opportunity into consideration as well.
Recognising this need, we have decided for the planned investment. The object of the project is the building and operation of a 5-Star Superior Medical & Wellness & Conference Hotel in the immediate vicinity of the Bath Complex of Hajdúszoboszló. The elegant Corvin Palace Hotel received its name from the surname of King Mathias, to meet the requirement of “saleability” for foreign tourists.

Hotel name: Hotel Corvin Palace Hajdúszoboszló Conference, Medical and Wellness Hotel
Classification: 5* Superior
Location: In the immediate vicinity of the medical bath of Hajdúszoboszló
Number of floors: 7 floors
Number of rooms: 234 rooms
Number of beds: 518 beds
Parking places: 196 + 32 cars + 4 bus
Total gross built-up area: 44 271(m2)
The Hotel will be profitable at a utilisation level of 55% in the first year.

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