Warimpex Finanz- und Beteiligungs AG announces the successful sale of the five-star Palace Hotel in Prague to a Czech investor. The transaction closed yesterday, and the parties agreed that the purchase price would not be disclosed.
“We are pleased to be able to announce this strategic sale, and that we have started off the second half of the year by continuing our successful string of sales transactions,” said Franz Jurkowitsch, CEO of Warimpex.
The Palace Hotel was built in art deco style in the historic city center of Prague and was opened in 1989. It has 114 rooms and 10 suites, a restaurant, a café and a spa area. The modern conference rooms offer a total space of 400 m² and can accommodate up to 250 people. The five-star hotel was run by Vienna International Hotelmanagement AG (VI); the new owner will now be taking over operations.