Major Real Estate Transaction: Four Seasons Hotel Now Under New Ownership!
PPF Real Estate, a segment of Renáta Kellnerová’s PPF Group, is in the process of acquiring the esteemed Four Seasons Hotel located in Prague.
This luxurious hotel can be found on Veleslavínova Street within the historic Old Town, making it one of the most sought-after locations in the capital city. The acquisition is currently under review by the Czech Office for the Protection of Competition, which has made the information about this transaction available on its official website.
“This proposed merger mainly relates to services provided by the hotel accommodation sector. A conclusive decision has not yet been reached,” indicated the office.
PPF Real Estate is set to acquire FSHP, the firm responsible for managing the hotel. As previously reported by Hospodářské noviny, the anticipated transaction price is close to CZK 3 billion.
The five-star hotel opened its doors in 2001 and showcases a unique fusion of Renaissance, Baroque, and Classicist architectural styles, complete with a contemporary extension. It boasts 157 guest rooms, including 19 luxurious suites, along with 600 square meters of banquet facilities suitable for various business and private functions.
Throughout its history, the hotel has welcomed a plethora of celebrities and influential figures, such as Madonna, Bruce Willis, Arnold Schwarzenegger, Sophia Loren, and the players from Liverpool FC.
According to FSHP’s annual report for 2023, the Four Seasons in Prague recorded the highest average revenue per occupied room within the local market. Nevertheless, the hotel reported a loss of CZK 75 million last year, with its total revenue amounting to CZK 707.6 million.
This acquisition comes on the heels of another significant hotel purchase by PPF. In January 2024, the Czech Antimonopoly Office granted approval for PPF’s acquisition of Hilton Prague, recognized as the largest hotel in the country.
PPF Group, which was founded by the late billionaire Petr Kellner, has a diverse portfolio across Europe, Asia, and North America, focusing on sectors like financial services, telecommunications, media, real estate, engineering, and biotechnology. The group manages assets valued at €44.1 billion (approximately CZK 1.1 trillion) and provides employment for over 47,000 individuals globally.
Some of its noteworthy assets include Air Bank, the telecommunications providers O2 and CETIN, the media conglomerate CME, the engineering firm Škoda Group, and CzechToll, which manages the electronic toll collection system throughout the country.
Following the untimely passing of Petr Kellner in a helicopter accident in Alaska in 2021, his wife Renáta Kellnerová assumed leadership responsibilities.
She has since become the richest woman in Czechia and is vigorously expanding the family’s business interests, now with an even stronger foothold in Prague’s luxury hospitality market.
