PPF Real Estate Holding has acquired the Four Seasons Hotel Prague from Northwood Investors.
Additional details were not disclosed (although some reports place the sale price at approximately CZK 3 billion, or approximately EUR 120 million), and the transaction remains subject to regulatory approval.
Under a previously concluded agreement with PPF Real Estate, a minority stake in Four Seasons Hotel Prague will be acquired by investor Tomas Otruba, who since 2023 has been a member of the advisory board of the Kellner family’s AMALAR Holding.
Noble Hospitality, which is owned by Czech businessman Michal Strnad, the owner of the Czechoslovak Group industrial group, has purchased a 30 percent stake in the hotel from PPF Real Estate. CSG itself is not party to the transaction.
Four Seasons Hotel Prague is located close to Prague’s Old Town Square and Charles Bridge and is one of the most luxurious hotels in the city center. It joins the hotel portfolio of PPF Real Estate and PPF Group, which includes the largest hotel in the Czech Republic, Hilton Prague, and the Stages hotel near Prague’s O2 Arena.
“The acquisition of the Four Seasons Hotel further strengthens PPF Real Estate’s position in the Prague hospitality market,” said Robert Sevela, Chairman and CEO of PPF Real Estate Holding. “This transaction aligns with our successful pursuit of the geographic and sector diversification of our asset portfolio. I am delighted that we have joined forces with Michal Strnad in the acquisition of Four Seasons Hotel Prague, who shares the philosophy of PPF Group about the longevity of real estate investments.”
“We are pleased that we have managed to purchase this unique hotel together with PPF Real Estate,” said Stanislav Kuba, Investment Director of CSG. “We have confidence in PPF’s strategy in the field of hospitality real estate and we also believe that this project will be the basis for further successful cooperation between PPF and Michal Strnad in other fields and projects.”
As part of the project, the PPF Group will be fully responsible for the management and operation of the hotel.
PPF Real Estate has concluded an agreement with global real estate investment company Northwood Investors to acquire the hotel, Rousek confirmed information on the website of the Office for the Protection of Competition (ÚOHS). Neither party to the transaction disclosed the price, but according to earlier information from Hospodářské noviny, it is almost three billion crowns.
