Hungary's first branded residence will be the Körszálló

It announced that Market Asset Management Zrt. announced that it had reached an agreement with Marriott International, according to which Hungary's first branded residence development, named Marriott Residences Budapest, could be created from the legendary building.

The Körszálló will be the first residential building in Hungary to be operated by a globally recognised hotel brand, opening a new chapter in the domestic premium property market.

This summer, the contractor for the reconstruction of Körszálló, Market Építő Zrt., will begin work this summer, and the first residents are expected to move in at the end of 2027. The project will combine the world-class service culture of Marriott International with Budapest's architectural heritage.

Not just a brand name

An extremely popular model in the global premium housing market is the branded residence, where brands not only lend their name to certain projects, but also set strict quality and operational standards. The branded residence is "a residential property that is generally associated with a well-known brand through both design and services," according to the Market Asset Management's statement.

"Bringing the heritage of the Marriott brand and its trusted service," they summed up, "in the form of a limited number of exclusive homes in this iconic, cylindrical former hotel building that will remain a defining feature of Budapest's cityscape."

48 apartments will be available from September

Thanks to the service provided by the Marriott, residents can expect impeccable service and attention to every detail. Amenities include a wellness and fitness area, concierge service, 24-hour security, cinema, meeting room, community work space and private bar.

Ownership comes with access to ONVIA, the Marriott International ownership recognition platform, which includes privileges such as Marriott Bonvoy Elite status.

Based on international experience, such properties typically sell at a premium of 20-30% compared to similar but not brand luxury properties.

The developer will offer 48 exclusive panoramic residences to prospective owners, who will be able to start pre-registering this year. Sales will be managed by Market Asset Management and pre-registration will start in September 2025.