Gresham Palace

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File:Interior of the Gresham Palace.jpg
Interior of the Gresham Palace

Gresham Palace or Gresham-palota, located in Budapest, Hungary, is an example of Art Nouveau architecture in Central Europe. Completed in 1906, it is now owned by an Irish company, Quinlan Private, and managed by Four Seasons Hotels.

History

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, and decided that they needed a grander setting for them. They commissioned local architect Zsigmond Quittner to design the new structure, and in 1904, they began construction of the Gresham Palace, which was completed in 1906.

Originally, the palace served as an office building as well as a home for wealthy British aristocrats associated with the Gresham company. During the occupation after World War II, Soviet soldiers resided in the extravagant palace. Eventually, it became decrepit and was used as an apartment building during the People's Republic of Hungary. In 1990, when democracy was restored, the national government presented the palace to the city of Budapest.

In 2001, it was bought by the Irish Investment company Quinland Private, under management of the Canadian based Four Seasons hotel company. Original details restored by Quinlan Private include a large staircase, stained glass, mosaics, ironwork and wintergardens. Opening of the Palace Hotel in 2004. In November 2011 the Hotel was bought by The State General Reserve Fund of Oman.

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