Prague’s Four Seasons Hotel Sold for 4.7 Billion CZK

Czech billionaire Michal Strnad, owner of the industrial group Czechoslovak Group, has purchased the prestigious Four Seasons Hotel in Prague.

The property was acquired from the American investment firm Northwood Investors for a reported 4.7 billion crowns, according to the Newstream portal.

Renáta Kellnerová, the wealthiest Czech woman and owner of the PPF Group, had also expressed interest in buying the hotel. However, negotiations with Northwood Investors did not result in an agreement.

The Four Seasons Hotel Prague first opened its doors in 2001.

At the time, it was the first branch of the renowned luxury chain in Central and Eastern Europe. The hotel has since become a favored destination for high-profile visitors, hosting celebrities like Madonna and the Rolling Stones, as well as Microsoft founder Bill Gates and former U.S. President Barack Obama.

Northwood Investors had owned the hotel since 2014, marking it as one of the most prominent assets in Prague’s luxury hospitality sector.

Frederic Le Fichoux, head of European hotel transactions at Cushman & Wakefield, revealed that the sale of the Hilton Hotel in Prague is also anticipated.

In addition, two other five-star properties—Andaz Prague by Hyatt and the Marriott Hotel Prague—are reportedly seeking new investors, according to the Seznam Zprávy portal.

Would you like us to write about your business? Find out more