In a move to offload some of its properties, Czech Railways decided to put a hotel and a dormitory in Prague 4-Michle on the auction block. The auction company Clanroy plans to open bidding at CZK 98.5m. The other properties on offer include an office building in Brno and dozens of smaller objects.
The hotel in Michle includes 10,000 sqm of usable space and 128 rooms. Hospodářské noviny quoted Milan Kremel of Clanroy saying that the auction of such a huge hotel is exceptional. “The ownership structure of hotels and accommodation facilities in Prague is rather stable, and there are not many opportunities to enter this sector unless you build,” he said.
