Augustine Hotel Prague Acquisition Marks Key Step in Kempinski Transformation Toward Asset Heavy Model
(IN SHORT) Kempinski Hotels has acquired the Augustine Hotel Prague, marking its first acquisition in over 50 years and signaling a strategic shift toward a more asset-heavy business model. Located within a historic monastery in Prague’s Malá Strana district, the hotel combines centuries-old heritage with modern luxury hospitality. The property features 101 rooms, multiple dining venues, wellness facilities, and event spaces. Kempinski plans to refurbish the hotel while preserving its historical character, with a full rebranding expected by late 2026. The acquisition reflects the company’s focus on owning landmark properties and delivering culturally immersive guest experiences in key European destinations.
(PRESS RELEASE) GENEVA, Switzerland, 2026-Apr-2 — /Travel PR News/ — Kempinski Hotels has announced the acquisition of the Augustine Hotel Prague, marking a significant milestone in the company’s strategic evolution toward a more asset-focused portfolio. The transaction represents Kempinski’s first hotel acquisition in more than five decades, following its last major investment in 1970, and reflects a renewed emphasis on direct ownership of landmark hospitality assets.
Located in the historic Malá Strana district beneath Prague Castle, the Augustine Hotel Prague is set within the grounds of the centuries-old Augustinian Monastery of St. Thomas. The site, with a history spanning over 800 years, continues to function as an active monastic community, creating a unique setting where heritage and contemporary hospitality coexist.
Barbara Muckermann highlighted that the acquisition aligns with Kempinski’s broader vision of redefining luxury hospitality through deeper engagement with local culture and heritage. She emphasized the company’s intention to move beyond traditional definitions of luxury by creating experiences that reflect the character and history of each destination, while maintaining high standards of service.
The Augustine Hotel Prague comprises 101 guest rooms, including 20 suites, many of which preserve original architectural features such as vaulted ceilings and wooden beams. The property also includes a range of amenities, including specialty dining venues, The Refectory Bar housed in the monastery’s former dining hall, a spa and fitness centre, a historic library space, meeting facilities, and extensive outdoor terraces and gardens.
The acquisition supports Kempinski’s strategy of curating a portfolio of distinctive properties rooted in local identity rather than uniform brand standards. Rasha Lababidi noted that the hotel represents an opportunity to redefine the guest experience by integrating design, culture, and service into a cohesive offering tailored to modern travellers.
Prague’s status as one of Europe’s most visited capital cities, combined with its rich architectural and cultural heritage, makes it a key market for luxury hospitality. The city’s historic landscape, shaped by Gothic, Renaissance, and Baroque influences, continues to attract international visitors year-round.
Following the acquisition, the property will operate as an independent luxury hotel under Kempinski’s ownership from April 1, 2026, while undergoing a comprehensive refurbishment programme. The planned upgrades will focus on enhancing design and guest experience while preserving the building’s historical integrity. The hotel is expected to be fully rebranded under the Kempinski name by late 2026, positioning it as a flagship example of the company’s future direction.
Media Contacts:
For general media inquiries:
pr.corporate@kempinski.com
SOURCE: Kempinski Hotels
