News Article Czech Republic Hilton hotel investment
by Property Forum | Hotel

The Prague Hilton, the largest hotel in the Czech Republic, offering almost eight hundred rooms and more than 7.000 sqm of space for holding conferences, may be changing owners soon, informs

The price could be around €300 million. The sale should have taken place ten years ago. However, it was then hampered by lawsuits. There was a lot of interest in Hilton among large investment groups already in the fall of 2014. At that time, its sale price was estimated at at least €150 million. In the spring of 2015, however, a lawsuit by the previous owner of the hotel in Florence, Prague, unexpectedly came into play. The trial dragged on for several years, and the pandemic stopped the possible sale, which hit the hotel business hard.

However, in 2022 the hotel recorded a pre-tax profit of almost €3.2m on a turnover of €43m. At the same time, there was a note in the financial report that it was on its way to returning to pre-Covid levels. After the collapse of Anglo Irish Bank, the property is now being disposed of by the successor owner, a state firm IBRC.