WING Strategic Partnership with Accent Hotel Management

Real estate developer WING and Accent Hotel Management have signed a strategic agreement to efficiently operate joint hotel projects in Hungary, the companies told MTI.

They note that the cooperation between the two companies is not new: WING and Accent's first joint hotel project was the Best Western Plus Lakeside Hotel in Székesfehérvár, which opened in 2015. WING is the developer and owner of the hotel, while Accent Hotel Management Ltd. has been entrusted with operational tasks for ten years, and a franchise agreement has been signed with the American hotel chain for the use of the Best Western brand name.

Following the joint success achieved with the hotel in Székesfehérvár, the two companies are now taking their cooperation to a new level by establishing a joint venture to provide professional hotel management and development services.

Budapest-based Accent Hotel Management Ltd. operates more than 2,000 rooms in 29 hotels in Hungary and Austria with 1,100 employees for various property owners and is actively expanding its portfolio in the market. As an independent player, a so-called ‘white label’ operator, it also cooperates with international hotel chains under franchise agreements, with Marriott, Best Western, and Accor hotels included in its hotel portfolio. According to public company data, the company's revenue exceeded HUF 1 billion last year and was HUF 978 million in 2023. Its after-tax profit last year was HUF 26 million, following HUF 183.6 billion the previous year.

The real estate developer WING Plc. launched its hotel business in 2019. It is associated with the country's first hotel with direct airport access, the ibis Styles Budapest Airport Hotel, the first B&B Hotels unit in Hungary, located in the city center, as well as the first TRIBE hotel in the Central and Eastern European region and in the country. With the volume of projects currently in preparation and under construction, WING is already one of the real estate development companies with more than 1,000 hotel rooms. WING Plc. had revenues of nearly HUF 5 billion last year, following HUF 4.7 billion the previous year, and its after-tax profit exceeded HUF 2.8 billion, following HUF 1.6 billion the previous year.