In the O2 arena in Prague, a hotel with 300 rooms is being built and is expected to open at the end of the year
Prague - A hotel with 300 rooms is being built near the O2 Arena in Prague. It will be inspired by music and the large international concerts held in the adjacent multipurpose hall. Its opening is planned for the fourth quarter of this year. The owner and operator of Stages Hotel Prague is Bestsport, which also operates the O2 Arena and O2 Universum. The company announced this in a press release today without disclosing the amount of investment. Bestsport is part of the investment group PPF.
The hotel will offer 300 rooms including 27 suites, and six multifunctional conference rooms will be available. Its facilities will include the Backstage Bar with an outdoor terrace and a restaurant with access to an interior atrium with a capacity of up to 270 guests. There will also be a music lounge for various types of events. The underground garage of the hotel will accommodate 100 vehicles. Stages Hotel Prague will be part of the Tribute Portfolio group of the Marriott hotel chain.
Music will be the unifying element of the interior. For example, the reception is styled like a stage, according to the hotel’s CEO Otakar John. "We have also incorporated musical motifs into the rooms themselves. For instance, instead of a classic lamp, we chose a spotlight used in professional photography, we replaced the standard mirror with a typical theater mirror, and each room will have a bluetooth speaker available for guests," he stated.
Along with the construction, the surrounding area of the hotel in Prague 9 is also being transformed. The roadway between the O2 Arena and the hotel will become a pedestrian zone. It is expected to be completed at the same time as the hotel.
Bestsport, formerly Bestsport Arena, which operates the O2 Arena, is part of the PPF group. The group acquired Bestsport at the end of 2013 during the division of assets with the KKCG group after a previous joint purchase of the lottery company Sazka.
According to data from STR, the Prague hotel market has been the most affected by the impact of the coronavirus crisis in Europe. Average revenue per room fell by 84.6 percent. The main reasons were a decline in occupancy of 78.5 percent to 16.6 percent and a reduction in average prices by 28.1 percent to 66 euros (about 1716 CZK) per room. However, according to Cushman & Wakefield, the interest of investors and hotel operators has not diminished, and they expect a market recovery after restrictions are lifted. Full recovery is expected only in 2024.
The hotel will offer 300 rooms including 27 suites, and six multifunctional conference rooms will be available. Its facilities will include the Backstage Bar with an outdoor terrace and a restaurant with access to an interior atrium with a capacity of up to 270 guests. There will also be a music lounge for various types of events. The underground garage of the hotel will accommodate 100 vehicles. Stages Hotel Prague will be part of the Tribute Portfolio group of the Marriott hotel chain.
Music will be the unifying element of the interior. For example, the reception is styled like a stage, according to the hotel’s CEO Otakar John. "We have also incorporated musical motifs into the rooms themselves. For instance, instead of a classic lamp, we chose a spotlight used in professional photography, we replaced the standard mirror with a typical theater mirror, and each room will have a bluetooth speaker available for guests," he stated.
Along with the construction, the surrounding area of the hotel in Prague 9 is also being transformed. The roadway between the O2 Arena and the hotel will become a pedestrian zone. It is expected to be completed at the same time as the hotel.
Bestsport, formerly Bestsport Arena, which operates the O2 Arena, is part of the PPF group. The group acquired Bestsport at the end of 2013 during the division of assets with the KKCG group after a previous joint purchase of the lottery company Sazka.
According to data from STR, the Prague hotel market has been the most affected by the impact of the coronavirus crisis in Europe. Average revenue per room fell by 84.6 percent. The main reasons were a decline in occupancy of 78.5 percent to 16.6 percent and a reduction in average prices by 28.1 percent to 66 euros (about 1716 CZK) per room. However, according to Cushman & Wakefield, the interest of investors and hotel operators has not diminished, and they expect a market recovery after restrictions are lifted. Full recovery is expected only in 2024.
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