The Czech hotel investment market has hit €530m so far during 2019 through a total of 10 transactions. It marks a gain of 100 percent compared to the average yearly transaction volume of €250m, according to Cushman & Wakefield. “The strong interest from investors with diverse source of capital and origin proves again that Prague and the CEE region are increasing their appeal for hotel investors,” said Frederic Le Fichoux, Partner & Head of Hotel Transactions for Continental Europe in the Cushman & Wakefield real estate advisory firm. He added that four of the 10 deals completed this year (72 percent of the total deal volume) were executed by Cushman & Wakefield. One of them was the sale of the 440-room, 4-star Panorama Hotel Prague sold by Corinthia Hotel Group to the Austrian investor S+B.
Magsud Rahmanov, Senior Hotel Investment Advisor for Continental Europe in the Cushman & Wakefield real estate advisory firm, says that judging from the record number of interested parties and strong offers for the Panorama, “the appetite for value-add hotel investment opportunities in Prague is high. Therefore, we can expect more hotel transactions to happen in the coming months.”
