Kempinski buys first hotel in 50 years

PRAGUE — Geneva, Switzerland-based Kempinski Hotels has acquired the Augustine Hotel, Prague in the Czech Republic, the hotel company’s first acquisition in over 50 years.

The hotel is Kempinski’s first acquisition since its investment in the Hotel Vier Jahreszeiten Kempinski Munich in 1970 and the purchase marks a significant step in the company’s strategic shift towards an asset-heavy approach to its global portfolio, according to CEO Barbara Muckermann.

“Kempinski was founded on a simple belief: that hospitality should enable guests to experience the best of The Good Life,” she said. “Opportunities to acquire hotels like Augustine Hotel, Prague are exceptionally rare. This investment offered a unique and compelling opportunity to secure a heritage asset in a top-tier European luxury destination while also creating a grand showcase for The Good Life as the future of Kempinski as an ultra-luxury brand.”

There were no details about the hotel's previous owner or the sales price. The 101-key Augustine Hotel, Prague, which opened in 2009, is currently part of Marriott International’s The Luxury Collection and was previously part of Rocco Forte Hotels.

The hotel stands within the walls of the Augustinian Monastery of St. Thomas, a historical site dating back more than 800 years and remains a living, working community of Augustinian monks that preserve a daily routine of worship, work and study. It contains two F&B outlets and over 400 square meters of meeting space.

Under Kempinski’s ownership, the Augustine Hotel, Prague, will operate as a white-label, luxury hotel from April 1 until late 2026. Kempinski will invest in renovating all rooms and public spaces, and the hotel will be reflagged as Kempinski in late 2026.

“Rather than pursuing uniformity, we believe that Kempinski’s brand strength lies in its collection of highly individual properties, many of which are historic, architectural landmarks and are deeply resonant of the destinations’ culture and community,” Muckermann said. “As a storied hotel that is recognized for its deep history, cultural significance and architectural heritage, Augustine Hotel,  Prague is not only an ideal addition to Kempinski’s heritage-led, global portfolio, it is set to become the first truly physical and experiential representation of the Kempinski of the future. We look forward to welcoming this iconic hotel into the Kempinski family as a flag bearer for the brand’s continued leadership in luxury hospitality.”