BUDAPEST, Hungary — December 25, 2025. Budapest is closing out the year with two headline stories that matter to both residents and visitors: the city’s famous thermal bath renovations are facing renewed uncertainty after a key financing step stalled, while the capital’s MOL Bubi bike-sharing system is moving into a major expansion phase—without the feared winter shutdown.
Together, the developments highlight the same pressure point for Hungary’s capital: modernizing essential, high-demand public assets—whether they’re heritage spas that anchor Budapest’s tourism brand or daily mobility services that keep the inner city moving—while navigating complex funding and procurement timelines.
Gellért and Rác Baths: why Budapest’s iconic spa reopenings are slipping again
A €60 million loan is at the heart of the delay
In the latest twist affecting Budapest’s spa sector, multiple outlets reported that the Hungarian government rejected an application connected to a roughly €60 million (about HUF 24 billion) loan that the city-owned operator would use to renovate Gellért Bath, the long-closed Rác Bath, and also address a badly deteriorated thermal section at Széchenyi Bath. [1]
According to Hungarian daily Népszava, the bath operator Budapest Gyógyfürdői és Hévizei (BGYH) Zrt. plans to resubmit the loan request and says preparations will continue in the meantime. [2]
Gellért Bath is closed—yet still a major revenue engine
Gellért—one of Budapest’s best-known Art Nouveau attractions—closed at the end of September (October 1, 2025) as a multi-year overhaul was set in motion. [3]
While closures are often framed as a temporary inconvenience for tourists, the financial stakes are tangible. Népszava reported that Gellért’s annual turnover is around HUF 4 billion, meaning the closure creates a significant revenue gap—even if some guests shift to other baths. [4]
The urgency also reflects the condition of the facility. Reporting in Hungary described aging systems and infrastructure—including decades-old equipment and piping—that are increasingly difficult to keep at modern operating standards. [5]
A complicated “one building, two projects” reality at the Gellért complex
One reason the Gellért project is unusually complex is that the bath and the Gellért Hotel sit in the same historic complex with intertwined technical and legal arrangements. Hungarian reporting notes that the hotel was sold in 2021 to DOME Kft., tied to the BDPST Group, and coordination is needed—especially if the goal is to separate shared systems and align construction schedules. [6]
This coordination challenge is not a minor footnote. It shapes the construction logic: renovating the hotel while leaving the bath’s underlying infrastructure untouched can be inefficient or even impractical, according to the way the project has been described publicly. [7]
What the latest timelines say: Rác in 2027, Gellért interiors by late 2028, outdoor areas in 2029
The big question for travelers—and for Budapest’s tourism economy—is: when can people return?
Recent reporting points to a best-case scenario that is still several years away:
- Rác Bath: targeted reopening in 2027 [8]
- Gellért Bath (indoor areas): completion by end of 2028 [9]
- Gellért Bath (outdoor areas): no earlier than 2029 [10]
Crucially, outlets emphasize these dates are contingent on government approval for the financing structure. [11]
How much are we talking about—and why the city argues it’s “financially viable”
The renovation cost for Gellért alone has been widely cited at about HUF 20 billion, with a projected payback timeframe discussed in the eight-year range, while Rác has been described with an estimated nine-year payback—figures presented as part of the case for borrowing to fund the work. [12]
That financial framing matters because it signals the city’s argument: these aren’t “nice-to-have” projects but revenue-generating assets that support Budapest’s tourism competitiveness. [13]
MOL Bubi bike sharing: BKK signs the Bubi 3.0 deal—plus a winter pilot to avoid shutdown
Contract signed with Inurba Mobility for the next-generation system
On the mobility side, Budapest’s bike-share story is moving in the opposite direction: forward.
Hungarian outlets reporting on a statement released to the national news agency MTI say BKK has signed a contract with Inurba Mobility, the tender winner, enabling the launch of the third generation of the city’s bike-sharing system (often referred to as Bubi 3.0). [14]
The key targets reported across multiple sources include:
- At least 5,000 new bicycles
- At least 1,000 electrically assisted bikes (e-bikes)
- A rollout that could put the new fleet on the streets within six months [15]
Azernews, covering the development for an international audience, also framed it as the city’s largest and most tech-advanced Bubi fleet to date and highlighted the scale-up and e-bike component. [16]
Expansion beyond the current service area: metro stations and major hubs in focus
A central promise of the new Bubi generation is geographic reach.
Reporting tied to the MTI summary says the system is expected over time to extend beyond current boundaries to cover all metro stations and other major transport nodes with high ridership. [17]
For a city where many residents still treat cycling as “inner districts only,” this expansion is strategically significant: it aims to make bike share a genuine first/last-mile option for commuters, not just a tourist-friendly way to roll around the center.
The winter bridge plan: a 500 HUF pilot pass from Dec. 24 to Feb. 15
Earlier in 2025, there were widespread concerns that procurement delays and an expiring operator contract could cause a complete pause in bike-share service. Instead, Bubi is running through winter via a pilot period that began December 24, 2025 and lasts until February 15.
Multiple outlets report a MOL Bubi Pilot pass priced at 500 HUF, designed to keep bikes available while the next system is prepared. [18]
During this pilot window, riders should expect operational changes, including a reduced fleet (reported at roughly half capacity in winter conditions) and some app/payment adjustments for users on minute-based pricing. [19]
Testing “Mobi Points” in District VI: why Terézváros matters
One of the most practical details for day-to-day users is the District VI trial:
During the pilot, bikes can be returned not only to traditional docking areas but also to 168 designated “Mobi Points” in Terézváros, where shared micromobility devices are parked in an orderly way. The idea is to gather usage data and test integration concepts ahead of the larger rollout. [20]
Why this matters: Bubi’s usage numbers show it’s become mainstream transport
Budapest’s bike-share is no longer a niche service.
Recent reporting puts second-generation usage at around 14 million rentals over roughly four-and-a-half years, with riders logging over 31 million kilometers—figures repeated across outlets covering the transition. [21]
Even in winter, local reporting suggests the system remains heavily used, underlining why policymakers were eager to avoid a holiday-season shutdown scenario. [22]
Who is Inurba Mobility?
Inurba Mobility has been described in Hungarian reporting as bringing international operating experience, including bike-share operations in Rouen (France) and Poland’s Tri-City area (Gdansk, Gdynia, Sopot). [23]
That background is central to why the city is betting on the company to scale the fleet quickly and manage a broader service footprint.
What travelers and residents should do now
If you’re visiting Budapest for the thermal bath experience
- Gellért Bath is closed and, based on the most recently reported schedules, won’t return soon—with completion targets stretching into 2028–2029 depending on financing approvals. [24]
- If your trip is in 2026 or 2027, plan around alternative historic baths that remain key to the city’s spa identity (local coverage points to visitors shifting to other major facilities during the closure). [25]
If you’re in Budapest and rely on MOL Bubi
- The winter pilot is your continuity bridge: 500 HUF, valid through February 15 once purchased, with operational tweaks like Mobi Point returns in District VI. [26]
- The “big leap” is expected by summer 2026 if the reported six-month deployment target holds—bringing more bikes and e-bikes into everyday use. [27]
What to watch next in early 2026
Budapest’s next headlines are likely to come from two decision points:
- Bath financing approval and resubmission outcomes—because every timeline for Gellért and Rác is tied to that green light. [28]
- Bubi 3.0 rollout milestones—how quickly Inurba Mobility can deliver the new fleet and how smoothly the city transitions from the pilot setup into full expansion. [29]
For now, Budapest’s year-end story is one of contrast: the city’s most famous spa interiors remain locked behind a long renovation horizon, while its most visible micromobility service is gearing up for its biggest expansion yet—starting with a low-cost winter pilot that keeps cyclists rolling through the holidays. [30]
References
1. telex.hu, 2. nepszava.hu, 3. www.budapest.com, 4. nepszava.hu, 5. nepszava.hu, 6. nepszava.hu, 7. dailynewshungary.com, 8. telex.hu, 9. telex.hu, 10. telex.hu, 11. dailynewshungary.com, 12. nepszava.hu, 13. dailynewshungary.com, 14. www.portfolio.hu, 15. www.portfolio.hu, 16. www.azernews.az, 17. www.portfolio.hu, 18. dailynewshungary.com, 19. dailynewshungary.com, 20. dailynewshungary.com, 21. www.azernews.az, 22. 444.hu, 23. www.economx.hu, 24. www.budapest.com, 25. dailynewshungary.com, 26. dailynewshungary.com, 27. www.portfolio.hu, 28. telex.hu, 29. www.portfolio.hu, 30. dailynewshungary.com
