Kempinski Hotels marks ‘key milestone’ with acquisition of Prague property

Kempinski Hotels has made its first acquisition in more than 50 years with the addition of Prague property Augustine Hotel.

The deal marks a “key milestone” for the group as its shifts towards an “asset-heavier approach” to its global portfolio.

Augustine Hotel will operate as a white label property until late 2026, when it will be reflagged as a Kempinski hotel.

The property is set in the historic town of Malá Strana within the walls of the Augustinian Monastery of St Thomas, which remains a living and working monk community.

The property features 101 rooms, including 20 suites, many of which retain the “authentic structure” of the monks’ former living quarters.

There will also be a collection of speciality restaurants, including a bar set in the monastery’s former dining hall, a spa, fitness centre and library.

Kempinski Group chief executive Barbara Muckermann said: “Kempinski was founded on a simple belief: that hospitality should enable guests to experience the best of The Good Life.

“Since its origin, Kempinski has defined luxury not as status or formality, but as generosity and joy; curating experiences from the heart of the destination and deriving richness from its culture and communities. As we evolve our business and brand strategy we are bringing this heritage back to life with the modern day traveller in mind.

“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 Good Life as the future of Kempinski as an ultra-luxury brand.”