Tourist information - Places of Interest - Gresham Palace

Gresham Palace or Gresham palota, located in Budapest, Hungary, is a fine example of seccesionist architecture in Central Europe. Built in the early 1900s, it is now owned by an Irish company, Quinlan Private, and run by Four Seasons Hotels.

The site was once Nako 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 connected with the Gresham company. During World War II, Soviet soldiers eagerly took up residence in the extravagant palace. Eventually, it fell into disrepair and served as an apartment building during the Communist rule of Hungary. When democracy was restored, the national government presented the palace to the city of Budapest. In 2001, it was bought by the Four Seasons hotel chain, and was opened soon after as a luxurious hotel. Original details restored by Quinlan Private include a sweeping staircases, stained glass, mosaics, ironwork and soaring wintergardens.