Blackstone has sold The Hilton Prague Old Town together with the 6,900 sqm Gestin Centrum to the Singapore-based investor M&L Hospitality Trust. “2016 has been a year characterised by continued capital flows from Asian institutional investors into the European hotels and hospitality market and this latest transaction is part of a trend which we believe will continue well into 2017,” said Patrick Saade, Executive Vice-President, European transactions in JLL’s Hotels & Hospitality Group, which advised Blackstone. The 303-bedroom hotel is located at the edge of Prague’s Old Town district and was acquired by Blackstone in 2006 as part of a larger portfolio deal and converted into a Hilton-branded hotel in 2007. M&L Hospitality Trust is an international real estate investment platform specialising in hotels, and with offices in Amsterdam, Singapore and Sydney.
