Warimpex Finanz- und Beteiligungs has divested the five-star Palais hotel in Prague to a private European investor.
Warimpex Finanz- und Beteiligungs has divested the five-star Palais hotel in Prague to a private European investor.
In a statement, Warimpex said the hotel was sold for more than its book value, but added that the deal price remains confidential.
'We are proud to be able to announce another strategic transaction at the end of this year. In future, we intend to focus more strongly on our four-star angelo, Diplomat and Savoy hotels in Prague,' explained Warimpex CEO Franz Jurkowitsch.
Le Palais hotel, which was built in the Belle Époque style, is located in an upscale residential neighbourhood of Prague not far from the historic city centre. Warimpex acquired the old palace and extensively converted it into a luxury hotel, which opened in 2003. The hotel has 60 rooms and 12 suites, a spa area, a health club, and a modern conference centre has enough space for up to 80 people.
Vienna International Hotelmanagement will continue to operate the five-star hotel after the sale.
