Noble Hospitality, a company owned by Czech entrepreneur Michal Strnad, the owner of the industrial group Czechoslovak Group (CSG), is acquiring a 30% stake in FSHP s.r.o. from PPF Real Estate. FSHP owns the leading luxury hotel in Prague, the Four Seasons Hotel Prague, located by Charles Bridge. Both partners plan to continue investing in this unique property in the historical center of Prague.
“We are pleased that together with PPF Real Estate we have succeeded in acquiring this exceptional hotel. We trust PPF’s strategy in the hospitality real estate sector and believe that this project will serve as a foundation for further successful cooperation between PPF and Michal Strnad across other sectors and projects,” says Stanislav Kuba, Investment Director at CSG.
“The acquisition of the Four Seasons Hotel further strengthens PPF Real Estate’s position in the Prague hotel market. With our latest transactions, we are successfully fulfilling our goal of gradually diversifying our portfolio both geographically and sector-wise. I am delighted that in the case of the Four Seasons acquisition, we have joined forces with Michal Strnad, who shares the PPF Group’s philosophy on long-term real estate investments,” says Robert Ševela, Chairman of the Board and CEO of PPF Real Estate Holding.
Under this partnership, PPF, as the majority owner, will be fully responsible for the management and operation of the Four Seasons Hotel Prague. Michal Strnad intends to contribute to further investment in the hotel through the partnership. Noble Hospitality, owned by Michal Strnad but not part of the CSG group, will acquire the 30% stake in FSHP pending approval by the Czech Competition Authority (ÚOHS).
The transaction value was not disclosed.
About CSG
Czechoslovak Group (CSG) is a global industrial and technology group owned by Czech entrepreneur Michal Strnad. It supplies advanced technologies worldwide that help ensure a safer and more stable future. The group focuses on the development and production of strategically important products, systems, and technologies in defense, aerospace, automotive, and other key industries. With major production facilities in the Czech Republic, Slovakia, Spain, Italy, India, the United Kingdom, and the United States, CSG exports its products globally. The group continually invests in the development of its companies and expands its core business activities. Its key companies include the Czech automotive manufacturer Tatra Trucks, the Slovak artillery ammunition producer MSM Group, the U.S.-based small-caliber ammunition manufacturer The Kinetic Group, and the Czech radar technology company Eldis. CSG is dedicated to the development and production of strategically vital products and systems essential for the defense of core civilizational values. Across its integrated and affiliated companies, CSG employs more than 14,000 people. Including full-year figures for The Kinetic Group, CSG’s total revenues in 2024 reached EUR 5.2 billion. Consolidated revenues totaled EUR 4 billion.
About PPF
PPF Group operates in 25 countries across Europe, Asia, and North America. It invests in telecommunications, media, financial services, e-commerce, biotechnology, real estate, and engineering. As of June 30, 2024, the group’s assets totaled EUR 44.1 billion, and it employed 47,000 people worldwide.
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