
The State General Reserve Fund, an Oman sovereign wealth fund, has purchased the Four Seasons Gresham Palace Hotel in Budapest, Hungary.
Four Seasons Hotels Inc., Toronto, will continue to operate the 179-room luxury hotel. The amount of the sale is undisclosed."We see the hotel as a premier asset in the Budapest market, a market that is in the right phase of the RevPAR/valuation growth cycle, which has the potential to yield significant upside over the longer term," said a State General Reserve Fund representative."We see the hotel as a premier asset in the Budapest market, a market that is in the right phase of the RevPAR/valuation growth cycle, which has the potential to yield significant upside over the longer term," said a State General Reserve Fund representative.