Kempinski Group makes first acquisition in 50 years

Kempinski Hotels has announced the acquisition of Augustine Hotel, Prague, in the Czech Republic, marking the hospitality group’s first takeover in more than five decades. The hotel was previously managed by Marriott International under its Luxury Collection brand.

 

The buyout signals a shift towards a more asset-heavy portfolio and marks one of Kempinski’s most major investments since 1970, when the group acquired Hotel Vier Jahreszeiten Kempinski Munich in Germany. 

 

Under the new leadership, Augustine Hotel, Prague will operate as a white-label luxury hotel from 1 April until late 2026, when it will be reflagged under the Kempinski brand. During this period, the group plans to refurbish all rooms and public spaces in line with its ’Kempinski of the Future’ concept, while preserving the building’s historic design. 

 

Located in Prague’s Malá Strana district on the slopes below Prague Castle, the 101-key property sits within the historic Augustinian Monastery of St Thomas, a site dating back more than 800 years.

 

RELATED:

Kempinski appoints new GM at Saudi Arabia resort

Kempinski appoints new Chief Operating and Asset Management Officer 

First Look: Kempinski Hotel & Resort Sariya Yanbu Red Sea, Saudi Arabia

 

Facilities include the Refectory Bar housed in the former monastery dining hall, the Monastic Library and a spa and fitness centre. 

 

Barbara Muckermann, CEO of Kempinski, said: “Opportunities to acquire hotels like Augustine Hotel, Prague are exceptionally rare. This investment offered a unique and compelling opportunity to secure a heritage asset in a top-tier European luxury destination while also creating a grand showcase for the future of Kempinski as an ultra-luxury brand.”  

 

The acquisition sees Kempinski enter its 10th market in Europe. Currently, the group’s European portfolio spans Austria, Bulgaria, Germany, Hungary, Latvia, Malta, Slovakia, Switzerland and Türkiye.

 

For more information, visit kempinski.com