Four Seasons Hotel in Prague will be put up for sale?

Four Seasons Hotel in Prague will be put up for sale?
Four Seasons Hotel in Prague will be put up for sale?

One of the most luxurious hotels in Prague, Four Seasons Prague, may be put for sale. The hotel, which received dozens of celebrities from Sean Connery to the Russian President Dmitry Medvedev, is ready to change the owner for 2 billion CZK (80 million Euros). It was reported by the Prague edition with the reference to sources close to the deal, which wished to remain anonymous.

At present Four Seasons Prague is owned by the Irish fund Avestus Capital Partners. This company owns a number of luxury hotels throughout Europe. It should be noted that at the end of 2011 Avestus Capital Partners appeared in the news of the leading news agencies due to another big deal. Then another legendary hotel in Europe, Four Seasons Hotel Gresham Palace in Budapest, was sold for 75 million Euros.

Four Seasons Hotel Prague was opened in 2001 and immediately became one of the best hotels in the capital of the Czech Republic. Here preferred to stop presidents and prime-ministers, show business stars and members of royal families. Allegro restaurant in the hotel was the first in Eastern Europe awarded by the Michelin star. The hotel is situated in an ideal historic location - at a stone's throw from the Charles Bridge on the Vlatva River.

Four Seasons Prague is now experiencing a large-scale reconstruction. During the renovation were updated room interiors and presented new restaurant CottoCrudo.

Possible sale of Four Seasons Prague could be one of the largest recent hotel real estate transactions in the Czech Republic. Until now the largest contract for the sale of the Czech hotel was considered to be sale of InterContinental Prague. In 2010 the new owner Westmont Hospitality paid 110 million Euros for the hotel.

Ilya Kalachev

Date: 13/04/2012

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