Four Seasons Hotel The Gresham Palace (Gresham-palota) art nouveau neo classical architecture by night in Budapest Hungary.

- Image ID: EF94YR
Four Seasons Hotel The Gresham Palace (Gresham-palota) art nouveau neo classical architecture by night in Budapest Hungary.
DV TRAVEL / Alamy Stock Photo
Image ID: EF94YR
The Gresham Palace (Gresham-palota) is a building in Budapest, Hungary; it is an example of Art Nouveau architecture. Completed in 1906 as an office and apartment building, it is today the Four Seasons Hotel Budapest Gresham Palace, a luxury hotel managed by Four Seasons Hotels. It is located along the River Danube, adjacent to Széchenyi Square and the eastern terminus of the Széchenyi Chain Bridge. The site was once occupied by Nákó House, a neo-classical palace built in 1827. In 1880, the London-based Gresham Life Assurance Company bought the property, at a time when it was illegal to invest money in stocks, but rental income was a wise investment. The company later decided to build its foreign headquarters on the site, as they needed a grander setting for them. They commissioned local architects Zsigmond Quittner and Jozsef Vago to design the new structure, and in 1904, they began construction of the Gresham Palace, which was completed in 1906 and opened in 1907. It was named after the 16th-century English financier Sir Thomas Gresham, the founder of the Royal Exchange in London. Originally, the palace served as an office building as well as a residence for senior staff of the Gresham company. During the occupation after World War II, the Red Army used the building as a barracks. Eventually it became decrepit and was used as an apartment building during the People's Republic of Hungary. In 1990, after the end of the communist regime, the national government presented the palace to the city of Budapest. Oberoi Hotels entered into an agreement to manage a hotel in the building in 1991, but ensuing legal battles with residents of the building caused Oberoi to drop out in 1995. In 1998, Gresco Investments Ltd acquired the building and received approval from the Budapest Heritage Board to reconstruct it as a luxury hotel while retaining its original Art Nouveau architecture. In 2001, the building was bought by the Irish investment company Quinland Private.
Location: Budapest Hungary