In line with previous plans, Appeninn Nyrt. has started to build quality hotels in Club Aliga and in the Balatonfüred port area, which is also owned by the company. As a result of the long-term real estate development projects, a total of more than 250 hotel rooms and more than 100 new jobs are expected to be created in the area, which will significantly contribute to the boosting of tourism in Lake Balaton.

Appeninn Nyrt. has started accommodation developments in the Club Aliga resort and the Balatonfüred port area, as previously announced. To this end, its subsidiaries have submitted applications for the Kisfaludy Accommodation Development Construction - Development of existing hotels with high capacity and establishment of new hotels, which have now been positively evaluated. The company is convinced that, once the necessary infrastructural improvements have been made, Lake Balaton can become a major tourist destination in East-Central Europe. Appeninn Nyrt. is taking its share of this growth with the current investments.

The Budapest Stock Exchange-listed real estate company is building a 4-star, year-round hotel with more than 160 rooms at Club Aliga. The hotel will include a wellness area, conference centre, sports fields, playgrounds, shops and cafés. Construction is expected to be completed by the end of 2023. In addition to the hotel and port development, the company plans to create a unique resort centre on Lake Balaton.

In an undeveloped area of the centre of Balatonfüred, a real estate investment company has started the construction of a 5-star hotel with more than 100 rooms, also open all year round. Work started on the civil engineering works in March this year and the hotel is scheduled to be opened in 2023 at the latest. In addition to the hotel development, the 203-bath Balatonfüred port development will also include the development of state-of-the-art infrastructure.

The coronavirus epidemic and its economic effects do not have a significant impact on the company's previous plans, as these are long-term development projects.The company expects further growth in domestic tourism in the longer term, which confirms its professional vision of the business opportunities that arise from the development of a modern accommodation offer, and in line with this, it will continue to work on expansion opportunities in the sector. The company's aim is to become a leading provider of quality accommodation in the countryside in the coming years.

Appeninn's accommodation developments, in addition to significantly strengthening the long-term profitability of the listed company, will also contribute to the revitalisation of the domestic tourism industry and the regional economy. The positive outcome of the tenders is further good news for the company's investors and fits in well with the recent trend of steady development and growth.