August 19th, 2009

Hunguest Hotels delays opening of Ft 8 billion spa, citing financing gap

Hunguest Hotels has pushed back the opening date for an HUF 8bn spa it is building in Szeged (SE Hungary) to February 2010 from December 2009 because of the challenge of financing the project in the midst of the crisis, CEO Istvan Hulvely said on Tuesday.

Mr Hulvely called it was a “big accomplishment” for the company to approximately meet the target for completing the investment.

The investment is half completed, Mr Hulvely said.

Hunguest Hotels laid the cornerstone of the spa, called Napfenyfurdo Aquapolis Szeged, in October.

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