Warimpex has offloaded Savoy hotel near the Prague Castle. It’s the latest in a series of sales by the Austrian property group, which sold Palace hotel at Wenceslas square in Prague 1 last year along with Le Palais hotel in Vinohrady – Prague 2. The group has not published the price of the transactions, but its CEO Franz Jurkowitsch wrote in an official statement that Waripmex has been withdrawing from Prague’s luxury hotel market. He said the company will keep its four star hotels angelo and Diplomat, as it has confidence in this sector of the market.
Investors have increasingly targeted hotels lately, with Kempinski and Four Seasons sold at undisclosed prices in June. The InterContinental hotel changed hands last year and the new owner, Best Hotel Properties paid CZK 3bn for it.
