Corinthia expands in Hungary and Libya
Corinthia Hotels of Malta continues its programme of rapid expansion with the opening of its second hotel in Hungary and its first in Libya.
The company which, five years ago, had just four hotels will end this year with 22 four- and five-star properties, most of them company-owned, in 10 countries in Europe and Africa.
The five-star Corinthia Grand Hotel Royal in Budapest, Hungary, has opened after a two-year reconstruction costing £44.8m. The French Renaissance-style building, built in 1896 and bought by Corinthia in 1997, had been empty for the previous 10 years. During its chequered history, it has served as a cinema, an office and even a Second World War Gestapo headquarters, as well as a hotel.
It now boasts 415 bedrooms, boutique and designer shops, a spa, a conference and exhibition centre to accommodate 1,200 delegates, and a Grand Ballroom.
The five-star Corinthia Tripoli Towers hotel in Libya is expected to open before the end of the year. The £64m new-build offers 299 bedrooms, a conference and banqueting centre for as many as 550 people, a spa and a shopping gallery.
The company, founded in 1962 by the Pisani family, is also eyeing properties in emerging markets such as Croatia and China.