The head of the Congress Center says that people perceive the building as modern

Prague - The majority of Prague residents still refer to the Congress Center Prague (KCP) by its socialist-era name, the Palace of Culture, or the colloquial abbreviation Pakul, believes KCP director Michal Kárník. Nevertheless, he is convinced that the building above the Nusle Valley is now perceived as a modern multifunctional venue for congresses, conferences, presentations, and cultural as well as sports events.
"The prestige of the Congress Center abroad, established through events of global significance, such as the meetings of the International Monetary Fund and NATO, and a number of international medical congresses, is undeniable," Kárník told ČTK.
The building was officially opened a quarter of a century ago, primarily serving for the congresses of the then Communist Party of Czechoslovakia and the components of the National Front. "We want to rid KCP of the reputation of a congress palace," emphasized the vice-chairman of the board and Prague councilor Ivan Bednář (ODS). According to him, the KCP management is trying to attract cultural events to KCP and is opening its spaces to people.
For example, this summer, an exhibition of large sculptures by young artists titled Colorful Summer is set to take place in the building. "I believe that we will be able to attract the public here," noted Bednář.
The number of events at KCP has been increasing year by year. Four years ago, around 200 events were held, and last year there were already 375. "With an average duration of over three days, that means we organized more than three events daily on average," Kárník stated. Last year, 40 large congresses took place in the center.
However, KCP is still struggling with debts from its reconstruction and completion before the meeting of the monetary fund in 2000. At that time, it issued bonds worth two billion crowns with state guarantees and took a bank loan of 800 million crowns with city guarantees. However, costs were exceeded, which were paid with another loan and from the budget of Prague, which is the sole shareholder of KCP.
In the past, the center received subsidies from the city for debt repayment, but now, due to changes in loans, it no longer needs them. "We will earn enough for operations, for debt service payments, and for minimal investments. However, we are unable to repay the bonds in 2014," Kárník described. A strategic partner is expected to help, with discussions about their entry into KCP being considered in the form of a lease or sale of shares.
Some city politicians say that if Prague did not have a congress center, it would have to think about how to acquire one. According to Kárník, almost every world metropolis has a congress center, and in nine out of ten cases, it also owns and supports it. Thanks to KCP, Prague ranks sixth in the world in terms of the number of foreign participants in congresses. These individuals are among the wealthier tourists who spend more, which means a benefit for the state budget.