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DANUBIUS BEST PRICE GUARANTEE

When you book directly with Danubius Hotels Group, you can be sure that you are getting
the best publicly available hotel room rates. If you find a lower public rate anywhere else within 24 hours of your booking time, we will match the rate plus give you a EUR 30 Discount which can be used for Food & Beverage and extra services of the hotel during your stay,

subject to our Terms & Conditions.

You can submit your claim by filling out our online form. Claims must be submitted at least 48 hours before the standard check-in time at the applicable hotel.


terms & conditions claim form FAQ

Privatisation of the Company

Danubius Hotel and Spa Company was formed on 1 April 1972, in order to build and operate spa-hotels. The 100% state owned company began its work with Grand Hotel Margitsziget, Helikon Hotel in Keszthely and Hilton Hotel (in development phase).

Now Danubius is a 100% privatised company and operates two groups of hotels (Danubius Hotels and Danubius Beta Hotels), and has the majority ownership of Thermal Hotel Helia PLC (99,94%) and of HungarHotels (99,76%). See it at the page 7.

Owned 100% by SPA

The sale of Danubius was included in the First Privatisation Program advertised after the change of regime in 1990. The first step was the transformation into a joint stock company from July 31, 1991 with HUF 8,000,000,000 registered capital. The SPA owned 100% of the shares.

Privatised in 12%

After the transformation the SPA gave shares first to the Budapest and the local municipalities. A total of HUF 1,247,559 shares have been distributed to the Municipalities for the lands used by Danubius Hotels.

In 1991 the SPA prepared the sale of the company at the domestic and foreign stock exchanges with the help of foreign advisories.

The orders of the government in Oct. 1991 - rising of the interest rates on bank loans, the withdrawal of the tax allowances, the question of the ownership of Hotel Gellért - put the company into a difficult position in connection with the judgement of the stock exchange, so they had to look for other ways to privatisation.

Privatised in 44,3%

The main aim was to sell the Company as a whole (as a hotel chain) but the Company had to pay the expensive long-term loans. Therefore we had to sell our shareholder interest in Casinos Hungary; we made an agreement with the SPA to assume the loans and released Danubius from the joint and several liability of Thermal Hotel Aquincum in return for Hotel Gellért; we had to sell our non-profitable units (e.g. restaurants in Keszthely and Hévíz, our interest in Golf Course in Bük).

After this business rationalization the preparation work for home stock exchange began in the fall of 1992, and as a first step, they decided the public offer of 2,000,000 pieces of shares for Hungarian individual investors as well as 400,000 pieces of shares for Danubius employees in a private placement.

The Term 'Individual investor' means that he may only purchase up to HUF 5 million at very favourable financing conditions, namely: Danubius shares have been purchased with 10% cash, 40% interest free loan from the SPA, 50% E-loan. The SPA loan was due and payable not later than June 15, 1993 in one sum. The term of the E-loan will be six years to be paid back in six annual instalments at the valid interest rates.

The flotation was planned for 21 days, but the share of HUF 2 billion was purchased by 9,033 Hungarian investors in 5 working days. In the meantime Danubius employees purchased the possible 400,000 shares for HUF 500 per share.

Privatised in 64,3%

For a stable current price th Hungarian Investors who left the shares they purchased on deposit until Dec. 18, 1993 received one Bonus Share for every second shares from the SPA on January 15, 1994.

Privatised in 90%

On 28 January, 1994 Creditanstalt Rt. (Brokerage firm) sold 2,074,672 pieces of shares from the SPA's and 305,328 pieces of shares from the Danubius' ownership to 3 American Mutual Funds on the Budapest Sock Exchange.

Privatised in 97%

On the first week of May, the SPA changed 560.000 pieces of Danubius Shares (from its 10% ownership rest) directly for compensation coupons.

Privatised in 100%

On June, 1994 the SPA sold the last 3% to a hungarian Ltd. (Váltó és Vagyonkezelo Kft.), with this the privatisation of the company was finished.

Danubius Hotels Group
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