Covivio S.A. finalizes deal to take over legendary New York Hotel in Budapest
Covivio S.A. has finalized the purchase of 8 luxury hotels, including the New York Palace and New York Residence, that are located in Budapest, from Värde Partners. The remaining hotels are located in other European cities, such as Prague, Florence, Rome, Paris and Venice. The transaction was stalled due to Covid-19, but now the takeover is taking place. The Budapest based hotels will operate under Covivio’s hotel brand NH Hotels.