Manager Magazine published a broad article about the Hungarian hotel industry in which Mellow Mood Group, owned by Mr. Sameer Hamdan and Mr. Zuhair Awad, are mentioned as the largest hotelier and most active investors of the Budapest hotel market. Since 2009 the Group – except one reconstruction – opened 7 new hotels.
During the recession they were the only one who opened a luxury hotel in Budapest, the Buddha-Bar Hotel Budapest Klotild Palace which has proven that the power of anything new can attract new clientele into the Hungarian capital.
The article is also talking about Mr. Tamás Flesch, Mr. László Harmati, Mr. Tamás Farkas, Mr. Henrik Hoffmann, Mr. György Wossala, Mr. Csaba Somogyi and Mr. Imre Csordás.
Hotel-Seesaw: success and failure
SEESAW Because of the long return and high need for capital there is no hotel development without credit. In the middle of the hotel boom generated by the grants occured the crisis modifying the ownerships. There were many solutions as it is seen from our article.
Sameer Hamdan and Zuhair Awad became the main hoteliers in Hungary. The hotel group already has 14 hotels and hostels. There is one 4-star hotel located in Vienna. The investors started their operation with lower category hotels and grew up to the luxury category. The Buddha-Bar Hotel became a real attraction and the reconstruction of the Párisi Court will also offer many opportunities for those who prefer luxury and can pay it.