The US-based Northwood Investors acquired the Four Seasons hotel in Prague in a deal whose price has not been disclosed. The property company Avestus Real Estate had been looking to sell the five-star high-end hotel for two years for an initial asking price of €80m, writes the server idnes.cz.
The hotel buildings are owned by the City of Prague, but the investor acquired a management contract allowing it to operate the hotel until 2101 under the Four Seasons brand. Northwood Investors is a global real estate investment company with $3.5bn in assets. It was established in 2006 by John Kukral, who used to be a manager at Blackstone Real Estate Advisors.
