PPF Real Estate Holding (PPF RE) has announced an agreement to acquire the Hilton Prague, a prominent hotel in the Czech Republic, from Quinn Group Luxembourg Hotels, represented by the Irish Bank Resolution Corporation (IBRC). The terms of the deal remain undisclosed and are subject to customary regulatory approvals.
Significance of the Acquisition
- Largest Hotel in the Czech Republic: Hilton Prague boasts nearly 800 rooms and around 5,000 square meters of conference space, making it one of Europe’s leading venues for conferences and events.
- Strategic Expansion: The acquisition enhances PPF RE’s portfolio in the hospitality and conference sectors, aligning with the property management division’s growth strategy.
PPF RE’s Vision for Hilton Prague
Robert Ševela, Chairman and CEO of PPF RE, commented:
“PPF Real Estate’s strategy centers on a comprehensive approach to investment and management of the properties in our portfolio across all segments, including hospitality, conference, and concert venues. Investment into Hilton Prague perfectly fits our investment approach where we can create long-term and sustainable value through active management.”
