The Prague Commission recommended the continuation of the Ritz-Carlton hotel project

Prague - Prague is likely to sign a new lease agreement with the company Akroterion, which wants to open a Ritz-Carlton hotel near the Old Town Square. The hotel project would thus continue. Today, the property committee of the capital city's council recommended it, and the decision will be up to the councilors. Prague terminated the contract with the company at the end of last year because it failed to meet the condition of renovating and commissioning the building complex by September 2017. The proposed new contract includes a higher rent and a requirement to open the hotel by the end of 2022. The company welcomes the decision, although preservationists have reservations about the project.

Of the eight historic buildings that make up the complex, the investor owns four and had leased the other four from Prague based on a contract from 1995 until recently. After more than twenty years, the city leadership lost patience and terminated the contract at the end of last year.

The Deputy Mayor for Urban Development and member of the property committee, Petra Kolínská (Greens/Trojkoalice), stated today that it is better to come to an agreement with the existing investor than to start from scratch. "If we wanted to start from the beginning, it would mean further decay and waiting," she said.

Therefore, the committee recommended signing a new contract with the company, guaranteeing a rent seven percent higher than the original. According to the new conditions, the rough construction should be completed in 2021, and the hotel should be operational by the end of 2022. The investor will also have to pay a ten million fine for failing to meet the conditions of the previous contract.

"The contract should also include a new commitment to public accessibility of the complex between Celetná, Železná, and Kamzíkova streets," Kolínská stated, adding that apart from the hotel, 20 apartments are to be constructed on the site. According to the deputy, the company has provided evidence of secured financing and the contractor for the renovation.

The director of Akroterion, Ogi Jakšič, welcomed today's decision. "Our company values the opportunity to complete this unique project and realizes the commitment it makes to Prague. Our goal is to prove to the capital city that we are a quality and reliable partner," he told ČTK. He also confirmed the rent increase, completion dates, and other conditions mentioned by Kolínská.

Akroterion received its building permit in 2014. However, the plan was not liked by the National Heritage Institute (NPÚ) and some experts. In 2016, the Ministry of Culture canceled the positive opinion of Prague's preservationists, who subsequently issued it again.

According to the head of the Prague NPÚ office, Ondřej Šefců, the institute's concerns still stand. Given the fact that the project already has a building permit, he said that the preservationists from the NPÚ offered the company at least cooperation during the renovation to document or preserve as many valuable historical elements as possible. According to Šefců, the investor's approach in this regard is accommodating.

The long-decaying house U Sixtů is originally a Romanesque and early Gothic structure from the 12th and 13th centuries. Today's Baroque façade dates from the early 18th century. In addition to the Sixtů house, the project includes the houses U kamenného ptáka, U uherské koruny, U jednorožce, U bílého koníčka, U černého slunce, U Kamenného beránka, and U bílého vlka.