GledenInvest completes acquisition of Prague's Augustine Hotel

GledenInvest has completed the acquisition of the Augustine Hotel in Prague. Terms of the transaction were not disclosed. The hotel will reportedly undergo an imminent rebranding and be operated by an international hotel operator. The hotel currently has 101 rooms.

The hotel was formerly run by Rocco Forte Hotels, which amid financial struggles, dropped it from its collection in April of last year. The hotel currently is part of Leading Hotels of the World.

The Augustine Hotel is located in the heart of the Malá Strana, the oldest part of the Prague’s historic district, between the Prague Castle and the Charles Bridge. It opened in 2009 following an extensive restoration and refurbishment. The hotel occupies seven buildings including a 13th-century monastery and brewery that was once home to the friars of Saint Augustine.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

 

Read more on

Suggested Articles

Easyhotel said that it would focus on France and Spain as part of its “ambitious strategy” for growth.

HVS Brokerage & Advisory, Milmark Hotel/Motel Investments and Marcus & Millichap arranged sales in Texas, Wisconsin and Florida.

Fosun is thought to be applying for an Atol licence as it plans to relaunch Thomas Cook as an online travel agent.