Czech investment company Europa Investment Property has started building a hotel complex in the centre of Budapest. The company has signed the relevant purchase contract for lots with development company Skanska. The hotel will be operated by Holiday Inn Express, the chain Intercontinental Hotel Group. Building work will take three years. The total investment costs will reach ca. CZK 567m. The hotel with a floor area of 11,000 m2 will offer 234 rooms and commercial F&B premises – restaurants, cafés and bars.