The iconic Art Deco Imperial Hotel, situated in the heart of Prague, has been put up for sale by its current owners, the unions, with a minimum asking price of 2.15 billion crowns, according to reports by HN.cz. This five-star hotel, positioned at the corner of Na Poříčí and Zlatnická streets, features 126 rooms and is home to the renowned Café Imperial restaurant, co-owned by culinary personality Zdeněk Pohlreich.

Having opened its doors in 1914, the Art Deco Imperial Hotel has a storied history and underwent a significant renovation between 2005 and 2007. Presently owned by the association known as Majetková, správní a delimitační unie odborových svazů (Property, Administrative, and Delimitation Union of Trade Unions), the unions have initiated the process of selecting potential buyers as they seek to divest the property.

Jiří Bulan, responsible for the sale and rental of properties at Majetková, správní a delimitační unii odborových svazů, stated that the decision to sell the building doesn’t necessarily imply a departure from the hotel business. The union, in addition to the Art Deco Imperial Hotel, also owns the Olšanka hotel building in Prague 3 and includes mountain pensions in its property portfolio.

The sale of the Art Deco Imperial Hotel comes amid a period of noteworthy property prices in central Prague. For instance, the Czech Post recently offered a building on Jindřišská Street, close to the hotel, for sale at 1.5 billion crowns. The Art Deco Imperial Hotel, with its prime location and historical significance, is expected to attract considerable attention from potential buyers in the competitive real estate market.

In a related development, the nearby Jindřišská Tower, hosting a café and exhibition spaces, was appraised at 100 million crowns by the Prague Archbishopric, underscoring the diverse and vibrant real estate offerings in the vicinity.

Article by Prague Forum