Fairmont Hotels & Resorts announces its first hotel in the Czech Republic

Golden Prague Hotel managed by Fairmont to join the brand’s global portfolio of extraordinary hotels and resorts in May 2020

PRAGUE, 18 November 2019 – Fairmont Hotels & Resorts, a world-leading luxury hotel brand within the Accor group, is pleased to announce its entry into the Czech Republic with the Golden Prague Hotel. Partnering with Fairmont on this project is R2G Heritage, owner of the property.

Located along the prestigious Parizska Boulevard and on the banks of the Vltava River in the Old Town of Prague, the hotel, currently operating as the InterContinental Prague, will join the Fairmont portfolio under the name “Golden Prague Hotel managed by Fairmont” as of May 2020.  The hotel is planned to undergo a comprehensive refurbishment program in 2022, and is expected to reopen in early 2023 as “Fairmont Golden Prague”.

“The Fairmont brand of luxury is an ideal match for the historic and enigmatic city of Prague,” said Chris Cahill, Deputy CEO Accor & CEO Hotel Operations. “This is a destination created during the 14^th century, a golden age of European history. Over seven centuries, Prague has maintained its character and relevance as a cultural center that has captivated the imaginations of travelers for generations. We believe we have found the ideal location in which to showcase Fairmont’s beloved style and luxurious comforts to the visitors and locals of this treasured city.”

Golden Prague Hotel will undergo an extensive renovation in 2022, designed to bring the property up to a high standards of unrivalled, yet approachable luxury, yet maintaining the identity of this historic site and property build in brutalism architectural style. The renovated hotel will open once again by early 2023, with a sophisticated and stylish design concept extolling the history of Parizska Boulevard during its heyday of the 1970s. The newly revamped Fairmont Golden Prague is poised to become an exclusive hotspot, not only for overnight guests, but for local dining, gathering and celebrating special occasions.

“We are extremely excited to be teaming up with R2G, a group that shares our commitment to the market, our brand values and our guiding principle to luxury, authentic experiences and thoughtful service. This makes for an ideal partnership, which will only grow and flourish with the clear aim to make this hotel the prime luxury property in Prague”, said Francois Baudin, SVP Development Luxury Brands EMEA. “As the first Fairmont hotel in the Czech Republic, we will bring the brand’s character to life while infusing it with local presence, making it a place of occasion through high-quality furnishings and an extensive collection of artworks by renowned Czech artists.”

Fairmont Golden Prague will feature 300 guestrooms across eight floors. This includes 40 junior suites, eight suites and one stately presidential suite, which will offer stunning, picturesque views over the Vltava River. The ninth floor will feature an elegant restaurant offering locally inspired cuisine and a Sky Bar with spectacular views over the Instagram-worthy rooftops of Prague. In addition, 27 Fairmont serviced apartments adjacent to the hotel will be in operation as Golden Prague Residences after the hotel opening. The owner, R2G, also plans to renovate the spa and fitness facilities, the 16 meeting and event rooms, which are capable of accommodating more than 1,000 people, and the reception area, with new restaurant and bar venues.

“We are Czech owners and this hotel is truly unique and special for us. There is a lot of heritage connected with the site and the hotel and the choice of the right operator was absolutely paramount to ensure that the heritage is revived and lives on. Fairmont has great experience in managing iconic hotels. We are proud to collaborate with the brand and bring our hotel to the family with The Plaza in New York and The Savoy in London,” says Michal Smrek, CEO, R2G. “With Fairmont Golden Prague, we look forward to creating not only a luxurious retreat for travelers from around the world, but also a lively meeting place for locals.”

About Fairmont

Fairmont Hotels & Resorts is where occasions are celebrated and history is made. Landmark hotels with unrivalled presence, authentic experiences and unforgettable moments have attracted visitors to Fairmont and its destinations since 1907. The Plaza in New York City, The Savoy in London, Fairmont San Francisco, Fairmont Banff Springs and Fairmont Peace Hotel in Shanghai are but a few of these iconic luxury hotels, forever linked to the special places where they reside. Famous for its engaging service, grand public spaces, locally inspired cuisine and celebrated bars and lounges, Fairmont promises a special brand of thoughtful luxury that will be remembered long after any visit. With a worldwide portfolio of more than 75 hotels, Fairmont also takes great pride in its deep community roots and leadership in sustainability. Fairmont is part of Accor, a world-leading augmented hospitality group offering unique and meaningful experiences in 4,900 hotels, resorts, and residences across 110 countries.

About R2G Heritage

R2G Heritage, is the owner of the hotel. It is the investment vehicle for the hotel of the ultimate owners, successful Czech entrepreneurs Mr. Pavel Baudiš, Mr. Eduard Kučera and Mr. Oldřich Šlemr. R2G Heritage acquired the hotel in January 2019.

R2G Heritage belongs to R2G group of companies. R2G is a family office based in Prague, Czech Republic, established by industrialist Oldřich Šlemr in 2016. R2G’s goal is to preserve and grow capital through investments geared to long-term growth.

Mr. Oldřich Šlemr is Czech industrialist and former owner of CGS, Czech tyre company. Mr. Eduard Kučera and Pavel Baudiš are software entrepreneurs and major shareholders in London Stock Exchange listed anti-virus company AVAST.