Four Seasons Hotel Changes Hands in Major Real Estate Deal

PPF Real Estate, part of Renáta Kellnerová’s PPF Group, is acquiring the prestigious Four Seasons Hotel in Prague.

Located on Veleslavínova Street in the Old Town, the hotel is one of the capital’s most exclusive addresses. The transaction is currently being reviewed by the Czech Office for the Protection of Competition, which disclosed the acquisition on its website.

“The proposed merger primarily concerns hotel accommodation services. A final decision has not yet been issued,” the office stated.

PPF Real Estate is purchasing FSHP, the company that operates the hotel. According to earlier reporting by Hospodářské noviny, the purchase price is expected to be close to CZK 3 billion.

The Five-Star Hotel, which began operations in 2001, is a blend of Renaissance, Baroque, and Classicist buildings, with a modern addition. It offers 157 rooms, including 19 suites, and features 600 square meters of banquet space for both business and private events.

Over the years, the hotel has hosted numerous high-profile guests, including Madonna, Bruce Willis, Arnold Schwarzenegger, Sophia Loren, and Liverpool FC players.

In its 2023 annual report, FSHP stated that the Prague Four Seasons had the highest average revenue per occupied room in the market. Despite that, the hotel posted a loss of CZK 75 million last year, with total revenues reaching CZK 707.6 million.

This acquisition follows another major hotel deal by PPF. In January 2024, the Czech Antimonopoly Office approved PPF’s purchase of Hilton Prague, the largest hotel in the country.

PPF Group, founded by the late billionaire Petr Kellner, operates across Europe, Asia, and North America. It invests in financial services, telecommunications, media, real estate, engineering, and biotech. The group controls assets worth €44.1 billion (around CZK 1.1 trillion) and employs more than 47,000 people worldwide.

Among its assets are Air Bank, telecom companies O2 and CETIN, media group CME, engineering firm Škoda Group, and CzechToll, the operator of the country’s electronic toll system.

After Petr Kellner’s tragic death in a helicopter crash in Alaska in 2021, his wife Renáta Kellnerová took over the reins.

She is now the wealthiest woman in Czechia and continues to expand the family’s business footprint—now with an even stronger presence in Prague’s luxury hospitality sector.

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