Spanning more than 81,000m², the hotel opened in 1989. Credit: josefkubes / Shutterstock.

Hilton Prague, a 791-room luxury hotel in the Czech Republic, has been put up for sale.

Global real estate adviser CBRE will facilitate the sale process, on behalf of the Irish Bank Resolution Corporation (IBRC).

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Quinn Group acquired the hotel in 2004 but lost control of the property after the company was placed into receivership in 2011. 

The hotel, which opened in 1989, is anticipated to attract offers of up to €290m ($313.92m), reported The Irish Times.

Spanning more than 81,000m², the property has undergone €50m investment in room and facility upgrades since 2018.

Hilton Prague also offers six dining and beverage venues and 5,000m² of conference space.

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Additional amenities include a spa, an executive lounge, an indoor pool, a fitness centre, and electric vehicle charging stations, among others.

The sale also includes planning consent for a 5,000m² extension to the conference centre.

CBRE Europe head of hotels Kenneth Hatton said: “For investors looking for a market landscape with unmet demand, the European MICE market offers healthy, long-term fundamentals. However, this sub-sector has suffered from under-investment, resulting in a scarcity of products that are able to meet contemporary demand effectively.  

“As a result, there are few assets in Europe as well-equipped as the Hilton Prague to meet the needs of today’s events market and, with the value levers that will be available to an incoming owner, we anticipate investor interest to be extensive.” 

In April, CBRE also listed the Mama Shelter Singapore Orchard for an indicative sale price of S$195m.

This seven-storey hotel, at 110 Killiney Road in Singapore’s District 9, occupies a land parcel of about 13,148ft² and has a total floor area of around 39,628ft².