A Czech investor is building a Holiday Inn Express in Budapest on land it acquired from Skanska. E15 reports that Europa Investment Property, owned by Ondrej Spodniak, has agreed with InterContinental Hotels Group, which owns the Holiday Inn Express brand, to operate the 3-star hotel. “The project is primarily financed through a €14m bank loan,” said Spodniak. “We will provide the remaining €8m together with our investors.” Spodniak is already involved in Hngary in the reconstruction of an older office complex. E15 writes that the businessman’s non-property activities include setting up companies in tax havens and in buying and selling debts. He’s also the owner of the fintech start-up Amore Finance.
