Mercure Budapest Korona, Hotel of the Year in Hungary

The Association of Hungarian Travel Agencies (MUISZ) has chosen the Mercure Budapest Korona as Hotel of the Year, the Hungarian news agency MTI reports. The 30-year-old hotel is being completely renovated, with the two-year process to be completed in April this year, the company said.

The Mercure Budapest Korona is owned by Orbis, Poland's leading hotel group, representing Accor's brands in the region. With 412 rooms and more than 100 employees, it is located in the downtown area of the Hungarian capital. The hotel operates at an annual occupancy rate of over 80%. The renovation will cost HUF billions but the exact amount is treated as a business secret.

Accor's EBITDA (earnings before interest, taxes, depreciation and amortization) for the first half of last year increased by 5.1%, the third quarter revenue rose by 10.9%, and is expected to continue to further grow steadily.

The Mercure Network is a non-standardized mid-range brand from AccorHotels. As the world's leading hotel operator, AccorHotels has 3,600 hotels, 460,000 rooms and 170,000 employees in more than 92 countries. Mercure has a network of 747 hotels in 55 countries worldwide.