J&T Investiční společnost, acting through its Prime Hotel Assets Fund, has completed the acquisition of the Prague Marriott Hotel & Millennium Plaza, a mixed-use complex in the centre of Prague. J&T Banka provided equity participation in the transaction, with Dosfield Group serving as strategic partner. The complex will form part of a broader fund focused on commercial real estate across Central Europe.
The Prague Marriott Hotel comprises 416 rooms alongside conference, banquet and leisure facilities, which rank among the largest of their kind in Prague 1. The property also includes more than 10,000 sqm of office and retail space and an underground car park. Marriott International will continue to operate the hotel under a long-term management agreement.
"On the real estate market in Central Europe we have been active for a number of years and through corporate financing we have long supported many business clients. We believe we can identify quality partners and assets with balanced risk and interesting growth potential, which we want to offer to our clients. The cooperation with Dosfield Group and the acquisition of Prague Marriott Hotel & Millennium Plaza is the first example of such an investment," said Jan Kotek, board member of J&T Banka.
"Hotels are, from an investment perspective, a complex asset whose value stems not only from location and building quality but also from brand, guest mix and overall operational standards. Prague Marriott Hotel combines a central Prague location, a strong global brand, high accommodation capacity and extensive conference facilities. Active asset management can significantly influence the long-term performance of assets like this," said Magsud Rahmanov, founding partner of Dosfield Group, which brings specialist knowledge of the hotel market and experience in managing hotel properties.
"The acquisition is only the beginning of our work. We are now assembling a specialist team and preparing a broader fund, of which Prime Hotel Assets Fund will form a part. Our goal is to create a long-term attractive investment opportunity for our clients. This transaction gives us a strong foundation on which to build," said Tomáš Martinec, chief executive of J&T Investiční společnost.
