Kempinski to manage Executive Residences in Prague

Kempinski has signed an agreement with Ballymore Properties to manage a five star luxury, full-service executive residence in Prague.

The Kempinski Residences Prague are being built on a 3500 sqm site within the historical and commercial centre of the city. The residences will be available for short or long-term rental and are scheduled to open in early 2008.

Ian Bryan Architects have been commissioned to create a contemporary and sophisticated style while respecting the classical façades of the original building, a listed historical property. There will be 75 deluxe residences, outfitted to the highest standards of equipment and furnishings by RPW Design, a fitness centre open to residents, a restaurant, a bar with winter garden and a business centre. Resident  will be able to enjoy five star services including housekeeping, 24 hour room service, valet car parking and a shopping service. A unique feature of the property will be its massive private courtyard of 1700 sqm, which will offer a haven of calm at the heart of this busy city.

The residences are located close to many of the city’s major cultural sites and business areas. Wenceslas Square, the State Opera and the Old Town Square are all in easy walking distance. Prague is not only the capital of the Czech Republic, it is also considered the capital of Central Europe and is one of the continent’s most beautiful cities. Its unique skyline created by a harmonious blend of Gothic, baroque and Renaissance architectures combined with a rich cultural offering make Prague a top leisure destination. Nearby Ruzyně International Airport is served by many international airlines and transport to the city centre is fast and convenient.

Kempinski’s President & CEO, Reto Wittwer, said, “Kempinski is delighted to manage this exciting project which blends both historic architecture and a new way of metropolitan living, right at the city centre. Our cultural heritage and traditions are the perfect match for this property; we’ll create something very unique for Prague.”

The property is owned and will be redeveloped by Ballymore Properties. Dr Peter Bacon, European Board Director of Ballymore, commented “We are very pleased to have signed a management contract with Kempinski for this development. The combination of a beautifully restored historical building and a world class operator will allow the Kempinski Residences Prague to become the most desirable Executive Residences in Prague.”

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