The €300M acquisition of the Czech Republic’s largest hotel enhances PPF’s hospitality and conference operations, aligning with its sustainable growth strategy.
PPF Real Estate Holding, a leading property management and investment group, has announced its acquisition of Hilton Prague, an iconic hotel in the Czech Republic’s capital city. The deal, made with Quinn Group Luxembourg Hotels and represented by the Irish Bank Resolution Corporation, comes at an undisclosed amount. However, according to reports from E15.cz, the transaction is estimated to be around €300 million (CZK 7.5 billion). The acquisition is subject to customary regulatory approvals.
A Strategic Investment in Hospitality and Conference Operations
The Hilton Prague, boasting nearly 800 rooms and 5,000 square meters of state-of-the-art conference facilities, is a landmark property in the region. As the largest hotel in the Czech Republic and one of Europe’s premier conference destinations, this acquisition significantly bolsters PPF Real Estate Holding’s hospitality and conference portfolio.
“PPF Real Estate’s strategy centres on a comprehensive approach to investment and management of the properties in our portfolio across all segments, including hospitality, conference, and concert venues. Investment into Hilton Prague fits our investment approach where we can create long-term and sustainable value through active management,” said Robert Ševela, Chairman and CEO of PPF Real Estate.
Enhancing Value Through Active Management
PPF Real Estate Holding is known for its focus on creating sustainable value through active property management across all asset types. The acquisition of Hilton Prague aligns with this strategy, offering significant opportunities for growth in hospitality and large-scale events. The property’s location in the heart of Prague enhances its attractiveness as a hub for international conferences and tourism.
The acquisition reinforces PPF Group’s commitment to expanding its presence in the hospitality sector, leveraging its expertise to maximize the potential of high-profile properties.
