Kempinski Group Expands Portfolio with Prague Acquisition
Kempinski Group has announced the acquisition of the Augustine Hotel in Prague, further expanding its presence in the luxury hospitality sector. The move is seen as a significant step in the company’s strategy to strengthen its portfolio of high-end properties across Europe.
Historic Property Joins Kempinski’s Collection
The Augustine Hotel, located in the heart of Prague, is renowned for its historical significance and architectural heritage. The property occupies a former 13th-century monastery, offering 101 rooms and suites that blend contemporary comfort with historic charm.
Commitment to Ultra-Luxury Experiences
Bernold Schroeder, Chief Executive Officer of Kempinski Group, stated that the acquisition aligns with the company’s vision for delivering exceptional luxury experiences. “The Augustine Hotel is a perfect addition to our collection, reflecting our dedication to preserving unique heritage properties while providing the highest standards of service,” Schroeder said.
Strategic Growth in Central Europe
With the addition of the Augustine Hotel, Kempinski further consolidates its presence in Central Europe. The company indicated that Prague’s growing reputation as a luxury travel destination played a role in the decision to acquire the property.
Future Plans for the Augustine Hotel
Kempinski Group plans to integrate the Augustine Hotel into its global network, ensuring that guests benefit from the brand’s signature services and amenities. The company also expressed intentions to maintain the property’s historical character while introducing enhancements that align with Kempinski’s standards.
About Kempinski Group
Kempinski Group, established in 1897, is recognized as one of the world’s oldest luxury hotel groups. The company operates a portfolio of distinguished hotels, resorts, and residences in key destinations worldwide.
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