PPF Group, owned by the Czech Republic’s wealthiest woman Renáta Kellnerová and her family, is set to acquire Quinn Hotels Praha, the owner of Hilton Prague – the country’s largest hotel. The transaction is currently under review by the Czech Competition Authority.
The deal, first reported by Hospodářské noviny, will strengthen PPF’s real estate division in the tourism sector, particularly in conference tourism. While the final price remains undisclosed, industry consultants estimate the hotel’s value between 6.25 and 8.25 billion Czech crowns, with the offering price reportedly exceeding 350 million euros (approximately 8.8 billion Czech crowns).
Hilton Prague, formerly known as Atrium Hotel, boasts an impressive profile with 791 rooms across 11 floors. The prestigious establishment has hosted numerous dignitaries, including U.S. Presidents Bill Clinton, George W. Bush, and Barack Obama. Its conference facilities span approximately 5,000 square meters.
The current owner, Quinn Hotels, which is controlled by Irish investors through Luxembourg-based Quinn Group Luxembourg Hotels, reported a net turnover of 1.3 billion Czech crowns in 2023, though it ended the year with a 160 million crown loss.
PPF Group, a global investment powerhouse operating across Europe, Asia, and North America, manages assets worth 44.1 billion euros and employs 47,000 people worldwide. The group’s portfolio includes Air Bank, telecommunications companies Cetin and O2, and various other significant enterprises.