Warimpex Finanz- und Beteiligungs AG announces the sale of the five-star Le Palais hotel in Prague to a private European investor. The hotel was sold for more than its book value, but the parties agreed that the price will not be disclosed.
''We are proud to be able to announce another strategic transaction at the end of this year. In future, we intend to focus more on strongly on our four-star angelo, Diplomat and Savoy hotels in Prague,'' explained Warimpex CEO Franz Jurkowitsch.
The Le Palais hotel, which was built in the Belle Epoque style, is located in the upscale residential neighborhood of Prague not far from the historic city center. Warimpex acquired the old palace and extensively converted it into a luxury hotel, which opened in 2003. Vienna International Hotelmanagement AG will continue operating the five-star hotel after the sale.