Budapest has 10 hotels in the Michelin Guide's Key selection — 2 Two Keys and 8 One Key. 7 can be booked with points: 3 through Marriott Bonvoy, 2 through IHG One Rewards, 1 through World of Hyatt and 1 through Hilton Honors. Cash-only independents are listed too so nothing is missing from the map.
77k pts
20k pts
43k pts
56k pts
46k pts
On points
On points

Median points per night and cents-per-point value from AwardClaw's award tracking. Value is the cash rate divided by the points price, so higher is better; green means the redemption beats the program's usual value by a wide margin.
| Hotel | Keys | Program | Points / night | Value |
|---|---|---|---|---|
| Párisi Udvar Hotel Budapest Budapest, Hungary | Hyatt · The Unbound Collection by Hyatt | 20,000 | 1.7¢/pt | |
| Kimpton Bem Budapest Budapest, Hungary | IHG · Kimpton | 43,000 | 0.6¢/pt | |
| Matild Palace, a Luxury Collection Hotel Budapest, Hungary | Marriott · The Luxury Collection | 77,000 | 0.5¢/pt | |
| Dorothea Hotel, Budapest, Autograph Collection Budapest, Hungary | Marriott · Autograph Collection | 56,000 | 0.5¢/pt | |
| Verno House Budapest, Hungary | IHG · Vignette Collection | 46,000 | 0.5¢/pt |
The Luxury Collection 1 · Autograph Collection 1 · W Hotels 1
~0.7¢ per point · Amex Membership Rewards, Chase Ultimate Rewards and Bilt all transfer to Bonvoy at 1:1, so Marriott points are the easiest to top up in a hurry.
Kimpton 1 · Vignette Collection 1
~0.6¢ per point · Chase Ultimate Rewards and Bilt transfer to IHG at 1:1.
The Unbound Collection by Hyatt 1
~1.7¢ per point · Chase Ultimate Rewards and Bilt Rewards transfer to World of Hyatt at 1:1, which is why Hyatt is the program most award travelers build around.
SLH 1
~0.5¢ per point · Amex Membership Rewards transfer to Hilton at 1:2, with 1:2.
10: 2 Two Keys and 8 One Key. That makes Budapest the biggest Key city in Hungary.
7 of the 10: Matild Palace, a Luxury Collection Hotel, Párisi Udvar Hotel Budapest, Kimpton Bem Budapest, Dorothea Hotel, Budapest, Autograph Collection, Verno House, Kozmo Hotel Suites & Spa and W Budapest. By program: 3 through Marriott Bonvoy, 2 through IHG One Rewards, 1 through World of Hyatt and 1 through Hilton Honors.
Two Keys is the highest rating in Budapest, held by Matild Palace, a Luxury Collection Hotel and Four Seasons Hotel Gresham Palace Budapest. Matild Palace, a Luxury Collection Hotel is bookable on points.
Párisi Udvar Hotel Budapest, at a median of about 20,000 Hyatt points a night — 1.7¢ per point against the cash rate.
Hotel selection and Key ratings from the MICHELIN Guide hotel selection; points prices and value are AwardClaw's own observations of each program's award pricing and move with dynamic pricing. Program links reflect the loyalty program a property belongs to at the time of writing — partner portfolios (Mr & Mrs Smith, Small Luxury Hotels, Design Hotels) change, so confirm on the program's site before transferring points. AwardClaw is not affiliated with Michelin or any hotel group. MICHELIN is a trademark of its owner.