PPF Real Estate — a subsidiary of the PPF Group, which is owned by Czech billionaire Renata Kellnerova and her family — has acquired Quinn Hotels Praha, a.s., the owner of the Hilton Prague, the largest hotel in the Czech Republic.
The Czech Office for the Protection of Competition approved the transaction at the end of January, concluding that the merger posed no threat to market competition.
Financial details of the deal were not disclosed, but Hospodarske Noviny presumed that the purchase price potentially exceeded EUR 350 million (over CZK 8.8 billion).
Quinn Hotels Praha is controlled by Irish investors, with its sole shareholder being Quinn Group Luxembourg Hotels.
PPF Real Estate was advised on the deal by the BBH law firm, which describes the transaction as “the largest single-asset hotel sale in CEE to date,” and “the biggest real estate deal in the Czech Market of 2024.”
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