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Corporate Information

History of the Company

History of the Company

 History of the Company | Privatisation of the Company

April 1, 1972
Danubius Hotels and Spa Co. is established by the Ministry of Domestic Trade, which has reassigned Grand Hotel Margitsziget (Budapest), Hotel Helikon (Keszthely), and transferred the construction license to Danubius to build Budapest Hilton.

Danubius Travels travel agency is established.

March 1976 
Thermal Hotel Hévíz opens.

January 1977
Budapest Hilton opens.

March 1979
Thermal Hotel Margitsziget opens.

Hotel Gellért is transferred to Danubius Hotels.

April 1981
Budapest Gambling Casino opens, owned jointly with Casinos Austria.

Danubius Buchungszentrale Linz is established.

June 1984
Thermal Hotel Aqua opens,
Gambling Casino at Héviz opens, owned jointly with Casinos Austria.

July 1985
Thermal Hotel Sárvár opens.

September 1985
Hungarian Hotels Sales Office Inc. is established and its office opens in Los Angeles.

March 1986
Thermal and Sport Hotel Bük opens.

June 1987
Grand Hotel Margitsziget reopens as Ramada Grand Hotel Budapest after reconstruction.

A sports center opens in Hotel Helikon Keszthely featuring an indoor surgeproof swimming pool,a bowling alley, massage rooms, an indoor tennis court, sauna, solarium, and a club-house for tennis players.

A chain of Danubius Beta Hotels is established by including hotels in  Esztergom, Keszthely (Hullám, Phoenix), in Bük (Kastély, Ablánc), in Kalocsa, Debrecen, Hajdúszoboszló.

March 1989
Gambling Casino in Sopron opens, owned jointly with Casinos Austria.

May 1989
Schönbrunn, a gambling casino on a boat opens, owned jointly with Casinos Austria.
September 1990 Thermal Hotel Helia opens, a hotel built by a public limited company with Finnish shareholders.

May 1991
Thermal Hotel Aquincum opens, owned by a Hungarian - Swiss J. V.

July 1991
Part of the Birdland, Golf & Country Club Bük opens, facilities built by limited liability company with Swedish quotaholders.

July 31, 1991
Danubius is transformed into a company limited by shares with a new name Danubius Hotels Rt.

April 1992
Szerencsejáték Rt. buys Danubius’s shareholding in Casinos Hungary Ltd.

July 1992
A vegetarian restaurant opens in Thermal Hotel Aqua, Héviz.

September 1992
A congress room opens at Hotel Helikon, Keszthely.

October 21, 1992
The Board of Directors of the State Property Agency resolves to make a public offering of the shares of Danubius.

December 2 to 7, 1992
10,492 Hungarian citizens buy shares in Danubius at a nominal value of 2.3 billion forints in a public offering.

December 23, 1992
The shares of the company are introduced to the Budapest Stock Exchange as listed shares.

December 31, 1992
The State Property Agency buys Danubius’s shareholding in Thermal Hotel Aquincum.
April 1993 Beta Hotels are transformed into an Ltd. owned 100% by Danubius Hotels.

December 1993
Reservations office opens in Stuttgart (Germany) by Danubius Hotels.

January 28, 1994
Three American Mutual Funds buy shares in Danubius at a nominal value of 2.38 billion forints on the Budapest Stock Exchange.

May 1994
11,500 Hungarian citizens change their compensation coupons for Danubius  shares at a value of 560 millions forint.

CP Holdings Ltd. acquires 29.7% interest in Danubius Hotels Rt. from investment funds and the Buda Local Government.

February 1996
Danubius buys 60% interest in Helia Szálloda Rt.

June 1996
Danubius pays back the compensation fee to the State Property Agency, received in 1992, and becomes the legal owner of Hotel Gellért.

August 1996
Danubius succesfully acquires 85 % of the HungarHotels Rt. advertised by the State Property Agency, representing a nominal value of 4,675 billion HUF.

January 1997
Danubius pays the purchasing price to the ÁPV Rt. (SPA) for the 85 % interest in the HungarHotels Rt.

August 1997
Danubius buys 26% interest in Helia Szálloda Rt.

September 1997
Danubius buys 14.76 % interest in HungarHotels.

October 1997
Danubius buys the Danube Travel (travel agency) in London.

November 1998
Danubius buys 0.06 % interest in Helia Szálloda Rt. and becomes its 100% owner.

January 1, 1999
Danubius reorganizes its structure. Danubius itself becomes a holding company and operates a Property Company (Hungaria Hotel and Property Rt.) and a Management Company (Danubius Hotel Management and Service Rt.).

November 12, 1999
Danubius Hotels Rt.buys 100 % interest in Gama 45, owner of Hotel Villa Butterfly in Mariánské Lázné (Marienbad, Czech Republic) for 3.6 million USD.

April 2000
Danubius buys 65% interest in Lecebné Lázné a.s. (Marienbad, Czech Republic) for 15.5 million USD, with 30 properties, 4 spa houses and 40 thermal springs.

June 2000
Danubius Group’s interest purchases 51% interest in Preventív Security Rt. for 30.6 million HUF. The company is responsible for the security services of the hotels.

December 2000
Danubius buys further interest in Lecebné Lázné a.s. from the Czech Privatisation Fund and certain small shareholders. Consequently, the interest of Danubius in Lecebné Lázné increases to 90.06%.

April 2001
Danubius buys further 5% interest in Lecebné Lázne a.s. from the local government. With this purchase the interest rate increases to 95.36%.

September 2001
Salina Invest Rt. registered in Romania, in which Danubius has a proprietary ratio of 20%, wins 82.17% shareholding in SC Balneoclimaterics SA company having approximately 1000 hotel capacity, other properties and health establishments in Sovata, Romania at a privatisation tender.

September 5, 2001
Grand opening of Thermal Hotel Margitsziget after extending and refurbishing with an expenditure of HUF 4 billion. During the eight-month-long reconstruction two levels, 64 rooms were added to the hotel altogether, two executive levels were built, and the whole inner area was renovated.

January 1, 2002
Restructuring of the company. The former 11 Budapest individual operations of Danubius merges into 3 units, while the 5 country operations joins into 2 regional units, with a consequent reduction of administrative staff.

May 2002
The contract about purchasing 67% stake in the company Slovenské Liecebné Kúpele Piestany a.s. located in Piestany has been signed and approved by the Slovakian Antimonoply Office and the purchase price is paid.

July 2002
Registering the USD 4.1 million capital increase in Salina Invest Rt. which was the part of the USD 5 million obligation undertaken in the privatisation contract due this year. As a result the stake of Danubius in Salina Invest Rt. (which has a 93.98% ownership in SC Balneoclimaterica s.a.) increases to 49.5%.

August 2002
Subsidiary of Danubius purchases a further 2.84% interest in Slovenské Liecebné Kúpele Piestany a.s. for HUF 190 million. The seller is the Restitution Fund.

September 2002
Purchase of further 17.82% interest in Slovenské Liecebné Kúpele Piestany a.s. The seller is the Slovakian National Property Fund. The stake of Danubius increases to 87.66%.

September 2002
Sale of Hotel Eger-Park.

December 2002
The stake of Danubius in Salina Invest SA increases to 56.52%,
and in Preventív Security Rt. it decreases to 32.75% (so this company is no longer among the companies consolidated).

June 2003
Completion of the overall reconstruction of Hotel Sovata (Romania) in the framework of which all the rooms and common areas were refurbished and it boasts a renewed therapy section to the tune of USD 6 million.

March 2004
Danubius Hotels Rt. bought the shares of the minority owners of Hungária Szálloda-Ingatlankezelő Rt. (Property Co.). Therefore its former 99.99% ownership increased to 100%.

July 2004
Danubius Hotels Rt. became partner of LL Partners, LP in the world-renowned Gundel Restaurant and its related businesses (Bagolyvár, winery, wine cellars in Mád and Eger as well as trading of items with Gundel trademark).
As a first step Danubius acquired 49% of the business and, as a second step, application will be made to the Competition Office for approval for Danubius then to increase its stake by a further 17.6%.

September 2004
The Compatition Office approved the deal, so Danubius has become 66.6% owner of Gundel Restaruant and its related businesses.

September 2004
Property Management Co. was merged into Danubius Hotel Management Plc. (100% subsidiary of Danubius Hotels Rt.). In the future Danubius Hotel Management Plc.. will manage the properties and operate the hotels.

October 2004
Danubius bought a further 0.55% stake in Slovenské Liecebné Kúpele Piestany a.s. Its ownership increased to 88.21%.

October 4, 2004
The former printed shares of Danubius Hotels Rt. were turned into dematerialized shares.

August 2005
Danubius acquired 25% of the company CP Regents Park Two Limited, which owns and operates the 376-room Danubius Hotel Regents Park in London.

October 2005
Danubius Beta Hotels Service Ltd. joins Danubius Hotel Management Plc.. by way of merger. Following the transformation, Danubius Hotel Management Plc. will pursue the former activities of Beta as general legal successor.

November 2005
Danubius Zrt. purchased a further 1.75% stake in Slovenské Liecebné Kúpele Piestany a.s. from the Smrdaky Local Government, so the share of Danubius Group in the Slovakian subsidiary increased to 89.96%.

December 2005
Danubius Zrt. purchased a further 45.85% stake in Preventív-Security Zrt., so the share of Danubius Group in the company increased to 78.60%.

July 2006
According to the new stategy of the Group, different brands were set up:
- Danubius Health Spa Resort: for the health-spa hotels
- Danubius Hotels: for the high quality city hotels
while other hotels are listed under the category of “Member of Danubius Hotels Group”.

October 2006
In the course of the public purchase offer made for the shares of Danubius Hotels Nyrt. by its main owners (CP Holdings Ltd., Israel Tractors and Equipment Co. Ltd. and Interag Holding Zrt.) on a price of HUF 5825 per share, the bidders have become owners of 448 pieces of shares, meaning a 0.0054% increase in their stake. As a consequence, the above mentioned three companies have 53.4% control of the Group.

December 2006 
The first Slovakian 5-star hotel of the Group, Thermia Palace was opened in Piestany after its full reconstruction.

May 2007
The main owner of Danubius Hotels Nyrt., CP Holdings Ltd. acquired further shares after the public purchase offer made in 2006. According to the announcement made on 17 May 2007, CP Holdings Ltd., Israel Tractors and Equipment Co. Ltd. and Interag Holding Zrt. had a combined direct interest of 75.14% in Danubius Hotels Nyrt.

June 2007
Danubius Hotels Nyrt. acquired the 43.51% share packet of Corvinus Zrt. held in SC Salina Invest SA by meeting its obligation for an option right contract concluded earlier with Corvinus Zrt.
Following the transaction the ownership of Danubius Hotels Nyrt in SC Salina Invest SA increased to 99.94%.

July 2007
Danubius Hotels Nyrt. has sold Kastélykert Kulturális és Sport Kft.
Kastélykert Kft. is the owner of the Szapáry-Castle in Bük not operated by the Danubius Group. The Kft. was 100% subsidiary of Danubius Hotels Nyrt. with HUF 43 million equity, however, owing to its insignificant size it has not been consolidated. 

December 2007
A project company of Danubius Hotels Nyrt. has won the tender (in form of a restricted procedure) of Budapest Gyógyfürdői és Hévizei Zrt. regarding the sale of the property at  Budapest, XI. district, Kemenes u. 10. The property is in the neighbourhood of Danubius Hotel Gellért and Gellért Spa.

January 2008
Danubius Hotel Nyrt. sold its 56.7% share in Marcali Hotel Kft and presently has no ownership share in the company. Marcali Hotel Kft. is planning the building of a spa hotel in the town of Marcali (see announcement made on 28 March 2006). Simultaneously to the sale of the share, Danubius issued a letter of intent for the operation of the hotel.

August 2008
Danubius Zrt. sold Hotel Phoenix located in Keszthely.
Hotel Phoenix (Keszthely, Balatonpart 3.) formerly operated as a two-star hotel with 73 rooms. The property was owned by Danubius Zrt. and was rented out to a third party for operation. The rental agreement was terminated by the end of 2006, since that the hotel has been out of operation.

December 2008
Danubius Hotels Nyrt. sold is 25% shareholding in CP Regents Park Two Limited which owns and operates the 376-room Danubius Hotel Regents Park in London. Based on a franchise agreement the hotel still belongs to DH brand.

August 2009
Based on the original agreement made on 7th July 2004, Danubius Hotels Nyrt. purchased the remaining 33.33% minority shareholding in Gundel Kft. from LL Partners, L.P. Considering this share purchase transaction, Danubius Hotels Nyrt. became the sole owner of Gundel Kft.

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