W Hotels Worldwide, part of Marriott International, is planning to enter the Hungarian market. W Budapest will open in the Drechsler Palace located on Andrassy Avenue in 2020. The hotel will offer 162 guest rooms and suites as well as a restaurant, a destination bar, meeting and event spaces, a spa, a fitness center and a pool. The cost of the deal was not disclosed. W Hotels Worldwide is partnering with QPR Properties Kft, part of Constellation Hotels Holding, on the project.
