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24th April, 2019

Magyar Telekom to sell its resorts

Magyar Telekom has decided to sell all of its holiday resorts, including the Telekom Hotel at Lake Balaton in Balatonkenese, the telecoms company announced on its website on Tuesday.

Changes in the tax law contributed to the decision to reduce non-core activities, Magyar Telekom added.

The 91-room Telekom Hotel is the largest property on offer, with a price tag of Ft 2.5 billion, while the company’s 45-bed mountain resort in Mátraháza is available for Ft 168 million and a similar 730-m2 building with 10 apartments in Bükkszentkereszt is offered for Ft 125 million.

Smaller holiday homes will first be offered to employees.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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