Czech Republic: Luxury hospitality group Kempinski Motels has acquired the five-star Augustine Resort, Prague, marking its first acquisition in additional than 50 years.
Situated in Malá Strana (Lesser City) beneath Prague Fortress, Augustine Resort, Prague stands inside the partitions of the Augustinian Monastery of St. Thomas.
The property options 101 visitor rooms together with 20 suites, a restaurant and bars, a spa and health centre, a library, assembly area, and out of doors terraces and gardens.
Augustine Resort, Prague will function as a white label, luxurious lodge till late 2026, when will probably be reflagged as Kempinski. The corporate will refurbish all rooms and public areas.
CEO of Kempinksi, Barbara Muckermann, mentioned: “Kempinski was based on a easy perception: that hospitality ought to allow visitors to expertise the most effective of The Good Life. Since its origin, Kempinski has outlined luxurious not as standing or formality, however as generosity and pleasure; curating experiences from the guts of the vacation spot and deriving richness from its tradition and communities. As we evolve our enterprise and model technique we’re bringing this heritage again to life with the trendy day traveller in thoughts.”
Gordon Drake, chief monetary officer, Kempinski, added: “From a enterprise perspective, well-located luxurious hospitality property with sturdy model fairness and cultural significance provide resilience throughout market cycles and a chance for a major return on funding. Moreover, by way of direct possession we’re higher positioned to reposition the Augustine Resort, Prague as being one of many very best resorts in Prague and create important worth from the asset elevation.”
Kempinski Group was suggested on the transaction by A&O Shearman, Hill Worldwide, Alvarez & Marsal and Christie & Co. Kempinski’s senior debt lender for the acquisition was Erste Financial institution.
Highlights:
- Kempinski Motels has acquired the 101-room Augustine Resort, Prague, marking the group’s first lodge acquisition in additional than 50 years.
- Situated in Malá Strana beneath Prague Fortress, the five-star property occupies a former monastery and contains 20 suites, spa amenities, eating venues, and assembly areas.
- Following the acquisition, Augustine Resort, Prague will function as a white-label luxurious lodge earlier than being rebranded underneath the Kempinski flag after a full refurbishment by late 2026.
- The repositioning challenge will improve all guestrooms and public areas, enhancing facilities such because the restaurant, bars, spa, terraces, and landscaped gardens inside the historic complicated.
- Kempinski Group financed the transaction with senior debt from Erste Financial institution and advisory assist from A&O Shearman, Hill Worldwide, Alvarez & Marsal, and Christie & Co.
