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.