International Hotel Investments plc - Lease of Prague Hotel

On 7 March 2024, International Hotel Investments plc announced that it has leased out the 550-room hotel in Prague to Czech Inns, which will begin to operate the hotel as of 1 April 2024. Czech Inns is the largest hotel operator in Prague, managing over 2,600 rooms.

The Company stated that the decision to lease out the Prague Hotel aligns with its strategy to focus on ultra-luxury operations whilst seeking other brands and solutions for its upscale and mid-market hotels.

IHI noted that the rebranding comes at a time of rapid expansion for the Corinthia brand with several hotels in New York, Rome, Brussels, Bucharest, Doha, Riyadh and the Maldives scheduled to be opened in the coming years.