The Körszálló Revolution: Budapest’s Iconic Round Tower Gets a Luxury Makeover
If you’re wandering through Budapest’s Buda side and notice some serious construction activity near the famous Liberty Bridge, don’t worry—you’re witnessing history in the making. The legendary Körszálló, that distinctive round tower that’s been part of Budapest’s skyline since 1967, is getting the transformation of a lifetime.
From Hotel Icon to Modern Living
Picture this: a 19-story circular tower designed by György Szrogh that once welcomed guests as Hotel Budapest on New Year’s Eve 1967. For decades, this architectural marvel housed 280 hotel rooms and became a beloved fixture in the hearts of Budapest residents. But here’s the thing—times change, and so do the needs of a city.
The reality is that the old hotel function simply wasn’t working anymore. The building had fallen into such a state of disrepair that a simple renovation just wouldn’t cut it. We’re talking serious structural issues, outdated systems, and a general decline that had been going on for years. Rather than letting this iconic piece of Budapest’s architectural heritage crumble away, Market Asset Management decided to do something bold and transformative.
A Complete Reimagining
Starting in late July 2025, the demolition phase began—but before you get worried about losing a piece of Budapest’s history, here’s the beautiful part of this story. The developers aren’t destroying the building’s soul; they’re giving it a completely new life while preserving everything that made it special in the first place.
The new Körszálló will maintain that iconic circular form and distinctive architectural character that makes it so recognizable from across the Danube. Think of it as keeping the building’s DNA while giving it a thoroughly modern upgrade. The original mass, proportions, and that characteristic radial pillar system will all remain, along with those striking concrete surfaces and large glazed areas that define the building’s unique personality.
Enter the Marriott Touch
Here’s where things get really exciting for visitors to Budapest. In July 2025, Market Asset Management announced a game-changing partnership with Marriott International. The renovated Körszálló will become Hungary’s first branded residence development under the name Marriott Residences Budapest.
What does this mean for you as a tourist? Well, while you won’t be staying in hotel rooms anymore, you’ll be witnessing something completely new in the Hungarian capital—a residential building operated by one of the world’s most recognizable hospitality brands. This is the kind of luxury living concept that’s been hugely popular everywhere from the Middle East to Asia, and now it’s making its debut in Central Europe.
Luxury Living Meets Iconic Architecture
The transformed building will house 48 exclusive panoramic residences, each designed to meet 21st-century expectations for luxury living. But this isn’t just about fancy apartments—residents will enjoy wellness and fitness facilities, concierge services, 24-hour security, a private cinema, meeting rooms, co-working spaces, and even a private bar.
The environmental consciousness of the project is particularly impressive. The new Körszálló won’t use gas at all—instead, it will rely on geothermal heat pumps for heating and cooling, aiming for nearly zero carbon emissions. It’s a perfect example of how historic buildings can be adapted for sustainable modern living.
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A Gift to the Neighborhood
Here’s something that will make your future visits to this area even more pleasant. The developers are transforming the current surface parking lot into a beautiful public green park that anyone can enjoy. The parking will move underground into a modern garage topped with a green roof, dramatically increasing the green space in the area.
They’re also renovating the Lorántffy Zsuzsanna staircase and replacing that rather ugly mechanical roof visible from Trombitás Street with a complete green roof. The wall facing Szilágyi Erzsébet Avenue, currently cluttered with transformers, will get a major architectural upgrade and include commercial facilities.
What This Means for Budapest’s Landscape
For tourists exploring Budapest, this project represents something fascinating about the city’s evolution. Budapest isn’t just preserving its past—it’s actively reimagining how historic buildings can serve modern needs while maintaining their cultural significance.
The Körszálló has always been more than just a building; it’s a landmark that helps orient you when you’re exploring the city. From across the Danube, its distinctive round silhouette is immediately recognizable, and that won’t change. What will change is that this iconic structure will be serving a new purpose, housing families and individuals who want to live in one of Budapest’s most distinctive addresses.
Timeline for Transformation
The demolition phase that began in July 2025 is expected to continue until early 2026. After that comes the exciting part—the actual construction of the new building, which should be completed by the end of 2027. The first residents are expected to move in during the fourth quarter of 2027.
Throughout this process, the developers have committed to maintaining transparent communication with the community and minimizing disruption through the use of modern construction technologies and strict environmental protection measures.
A New Chapter for an Old Friend
The Körszálló project perfectly embodies Budapest’s approach to urban development—respecting the past while embracing the future. For visitors to the city, it’s a reminder that Budapest isn’t a museum city frozen in time, but a living, breathing capital that continues to evolve.
When you next visit Budapest and see the completed Marriott Residences Budapest rising from the Buda hills, you’ll be looking at more than just a luxury residential building. You’ll be seeing proof that great architecture can be preserved and transformed simultaneously, creating something that honors the past while serving the future.
The round tower that once welcomed hotel guests from around the world will continue to be a beacon in Budapest’s skyline, just with a different story to tell. And isn’t that exactly what great cities do—they keep writing new chapters while never forgetting the old ones?