Prague's Five-Star Corinthia Prague Hotel Taken Over by Czech Inn Hotels, Largest Czech Hotel Chain
Czech Inn Hotels, the largest Czech hotel chain, has announced that it has entered an agreement for the long-term lease and operation of the Corinthia Prague hotel from 1 April 2024. This strategic step means that the Czech Inn Hotels group has significantly strengthened its position on the Czech market and expands its existing portfolio of the largest hotels in the capital.
Czech Inn Hotels, the largest Czech hotel chain, has announced that it has entered an agreement for the long-term lease and operation of the Corinthia Prague hotel from 1 April 2024. This strategic step means that the Czech Inn Hotels group has significantly strengthened its position on the Czech market and expands its existing portfolio of the largest hotels in the capital.
The hotel's owners, Malta-based International Hotel Investments plc, welcomed Czech Inn Hotels and said the move is part of the company's strategy to focus its Corinthia brand on other luxury markets while retaining ownership of the other five-star assets under the new brands. From 1 April 2024, the Prague hotel will be renamed the Grand Hotel Prague Towers and presented as an independent hotel operated by the Czech Inn Hotels group.
Why Prague Towers - Jaroslav Svoboda, CEO of the Czech Inn Hotels group, explains: "We also considered the original name of the Forum Hotel, and even some media outlets revealed our activities in this sense at the registration office. But in the end, the opinion prevailed that the number of living witnesses was decreasing, and especially, from the hotel, there is absolutely the most beautiful view of the city of a hundred spires with dozens of towers and turrets. In addition, the hotel itself consists of two connected towers".
The Czech Inn Hotels group, which provided accommodation for almost 1.5 million guests in 2023, confirms its leading position in the Czech hotel industry with this business move.
Corinthia Prague is a hotel with a long tradition and a unique location in the heart of the metropolis, directly above the Nusle Bridge. The hotel building has a total of 26 floors, of which 24 are above ground. The total height is 84 meters, the antenna reaches up to a height of 90 meters. The history of the hotel began exactly 40 years ago. Construction began in 1984 and operation began in 1988, and the hotel was also known to Prague residents as the Forum. When it opened, it was an iconic building of modern architecture and luxury. The building was supposed to be part of the city of skyscrapers on the Pankrác side of Prague, some of which were built, others were not.
Currently, the hotel offers 539 rooms. On the top floor there is a well-known large swimming pool and a wellness area. The hotel also has several restaurants, bars and cafes, a total of 25 congress halls and meeting rooms, the largest with a capacity for 700 people.
The strategy of the Czech Inn Hotels group is based on detailed knowledge of the Czech market, services that are one star higher than the rating of the hotel and sustainable growth. "Our company is proud to include Corinthia Prague in its portfolio. We plan to gradually modernize the hotel and revitalize the rooms, but we will place great emphasis on preserving the unique character and historical value of the hotel. Our goal is to attack 90% occupancy this year, as is standard at other hotels in the Czech Inn group. We believe that the Corinthia Prague Hotel will not only strengthen our position on the market, but will also bring new opportunities for the development of tourism in Prague. With this step, a new chapter is opening for us," adds Jaroslav Svoboda.