July 24th, 2009

State subsidies, bank to help finance four-star hotel in Hódmezővásárhely

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SK SAS Projekt Ingatlanhasznosito es Fejlestzo plans to build a HUF 1.3bn four-start hotel in the centre of Hodemezovasarhely (SE Hungary) with the support of HUF 377m in development funding from the Southern Great Plain Operative Programme, managing director Ervin Schleiffer told MTI on Thursday.

SK SAS will cover the remaining cost of the investment with its own resources and a loan from the Hungarian Development Bank (MFB), said Mr Schleiffer, who is also one of SK SAS’s owners.

The 90-room Ginkgo-Sas City Hotel — which takes its name from a nearby hundred-year-old Ginkgo tree — is expected to open its doors in August of 2010.

SK SAS is owned by private Hungarian individuals and K’-Art Epito Ingatlanfejlestzo.

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