After four years, the reconstruction of the former Prague InterContinental hotel is reaching its completion. The hotel is to be operated by the international Fairmont hotel chain under the name Fairmont Golden Prague, reports E15.cz. 

PPF Real Estate Holding has agreed to acquire, for an undisclosed amount, Hilton Prague, a landmark hotel in the Czech capital, from Quinn Group Luxembourg Hotels, represented by the Irish Bank Resolution Corporation.

Tresor Le Palais in Timișoara has joined the Curio Collection by Hilton brand, marking the first transformation of this kind on the local market. 

The European Bank for Reconstruction and Development (EBRD) is lending €46.8 million to CIMEX Group, a hospitality operator in Czechia. The EBRD financing is being provided as part of a €140.4 million syndicated loan facility with UniCredit Bank and Raiffeisenbank.

The Hilton hotel in Prague, in which former US President Barack Obama or his predecessors Bill Clinton and George W. Bush have stayed, is being sold by IBRC, the investment structure of the Irish bank NAMA, dealing with debt settlement, reports E15.cz. At the same time, the domestic business elite has been competing with multinational investment capital for the largest Czech hotel.

The real estate market in Southeast Europe has been influenced by various crises in recent years, leading to lower investment levels. However, in 2025, a growth in investment activities is expected as a result of lower interest rates. Investors are particularly interested in the Balkans region, especially in Serbia, with the highest demand anticipated for investments in the hotel and residential sectors, while demand for office space is somewhat lower. These are some of the conclusions drawn by participants at the 8th edition of Balkans Property Forum 2024, organized in Belgrade by Property Forum.

Hilton today announced that following a franchise agreement with Grupa Hotele Polskie, two new properties will open in Northern Poland under the Spark by Hilton brand – a country debut for Hilton’s premium economy conversion brand. Spark by Hilton Pobierowo and Spark by Hilton Krynica Morska will open within the next six months, joining Hilton’s 30 trading hotels across Poland. The new properties together create an additional 226 rooms.

The Kampus Palace student housing project in the former Palace Hotel in the centre of Ostrava is being taken over by Purposia Group, an investment group with Czech roots, through its subsidiary development company Antracit, which is co-managed by former Ostrava mayor Tomáš Macura, reports E15.cz.

Despite the improving performance, inflation and financing costs remain significant challenges in the hospitality sector in CEE. However, reduced interest rates, stabilised construction costs, and strong recovery in midscale and budget segments may stimulate investment, panellists stressed at CEE Property Forum 2024 in Vienna.

Invesco Real Estate has acquired Cloud One Gdańsk hotel in Poland on behalf of its German client. The seller is Granaria Development Gdańsk, a joint venture entity created by Immobel and Multibud. The price has not been revealed.