Among
the noteworthy deals of the past week was the Czechoslovak Group’s acquisition
of the Four Seasons Hotel in Prague in the Czech Republic from Northwood
Investors for a reported CZK 4.7 billion ($195.24 million).
PRAGUE —
Prague-based Czechoslovak Group has acquired the Four Seasons Hotel in Prague
in the Czech Republic from New York City-based Northwood Investors for a
reported CZK 4.7 billion ($195.24 million).
The hotel
opened in 2001. At the time, it was the first branch of the luxury chain in
Central and Eastern Europe, and it became a favored destination for
high-profile visitors, including Madonna, the Rolling Stones, Bill Gates, and
former U.S. President Barack Obama.
Northwood
has owned the hotel since 2014, marking it as one of the most
prominent assets in Prague’s luxury hospitality sector. According to a report
in Prague Morning, Frederic Le Fichoux, head of European hotel transactions at
Cushman & Wakefield, said the sale of the Hilton Hotel in Prague is also
anticipated. In addition, two other properties, Andaz Prague by Hyatt and the
Marriott Hotel Prague, are also reportedly seeking new investors.
To download
our list of deals from the past week in Excel format, click here.