Following three years of losses, Obecní dům, a landmark art nouveau building at Námestí Republiky in Prague 1, is back in the black. Vlastimil Ježek, the manager of the city-owned building, blames the losses on overpriced contracts signed under former Prague Mayor Pavel Bém’s term. Ježek says Obecní dům started making a profit after management was able to cancel those contracts. Leasing space for classical music concerts, social events and exhibitions has produced CZK 26m in profits, up from CZK 6m in 2012.
