Gresham Palace

Birth of Sir Thomas Gresham, a british financier to Queen Elizabeth I.

Foundation in London of the Gresham Insurance company named after Sir Thomas Gresham. Nako House in Budapest

Antal Deron, a Hungarian wholesale merchant comissions the architect Jozsef Hild to build the Nako House, a neo-classic palace. Gresham Insurance Era

Acquisition of the Property by the British Life Insurance Company Gresham.

Decision taken to settle the foreign headquarters of Gresham Insurance on the site.

The Hungarian architect Zsigmond Quittner designs the future Gresham palace.

Nako House is demolished and the new Greshma Palace erected.

Opening of the Greshame Palace as a prestigeous life insurance company building.

After World War II Soviet Soldiers reside in the palace.

Nationalization of the building by the Hungarian Communist Government. The palatial apartments gets subdivided into smaller flats. Gresham Cafe remains open.

The Palace gets listed as a protected monument.

Change of political system in Hungary, the Government transferred ownership of Gresham Palace to the District V Council.

Announcement of a Hotel deal with the Oberoi Hotel chain, but legal issues with the remaining 38 tenants of the building arised.

Oberoi Hotels lost patiance and withdraw from the project. Four Seasons Era

Disctict V Council, the Hotel Chain Four Seasons Hotels and Resorts and Gresco Investments Ltd signed a development agreement to restore the building to its former glory.

CNN report on the project:

Acquisition of the property by Quinlan Private (later Avestus), an Irish Investment company.

Opening of the Gresham Palace as a Palace Hotel under the management of Four Seasons Hotels & Resorts.

November Oman State General Reserve Fund buys the property from Avestus (formerly Quinlan Private) for 75 million Euros. The Hotel remains under Four Seasons management.