Orbis buys hotel in Budapest for €42.2 mln

WSE-listed hotel operator Orbis acquired the Sofitel Budapest Chain Bridge hotel from Universale International Realitäten for €42.2 million, the company said in a market filing. “The main aims of the transaction are optimization of the hotel business by eliminating costs associated with the rental of the hotel and obtaining a possibility of sale of the hotel with management back,” the company explained. Till now, Orbis has been leasing the hotel. The deal is subject to approval by the Hungarian antitrust watchdog.