Time Out Group plc announced that it has entered into a management agreement with Corvin Food Market Kft to open a new Time Out Market in Budapest with an expected opening date in 2025. This agreement increases the number of sites in development to nine which are set to open between 2024 and 2027, in addition to the seven Markets already open and a pipeline of further locations in advanced negotiation. Time Out Market Budapest will be located in Corvin Palace which first opened in 1926 and recently has been renovated back to its original neoclassical state.

Considered one of the city's legendary historic department stores, it has been redeveloped as a mixed-use real estate property offering retail, leisure and a hotel in a prime central location at Blaha Lujza Square, a busy intersection and public transport junction. Time Out Market Budapest will be the primary food offering at Corvin Palace. Comprising approx.

25,000 sq ft indoors on the first floor and a further 9,000 sq ft outdoors on the rooftop, Time Out Market Budapest will feature 14 kitchens, four bars and one event space. With around 800 seats, guests will be able to experience a curated mix of the city's best culinary and cultural talents from award-winning chefs to up-and-coming restaurateurs and artists. Under a management agreement, Time Out Market receives a share of revenues and profits (subject to a guaranteed consultancy fee) but does not contribute to the capital cost of the site.

The portfolio of 16 sites includes seven open and the following nine new Markets scheduled to open in the next three years: 2024 (May): Porto (Owned & Operated); 2024: Barcelona (Owned & Operated); 2024: Bahrain (Management Agreement); 2025: Osaka (Management Agreement); 2025: Vancouver (Management Agreement); 2025: Abu Dhabi (Management Agreement); 2025: Budapest (Management Agreement); 2027: Prague (Management Agreement); and 2027: Riyadh (Management Agreement).