Kempinski Hotels has acquired the Augustine Hotel in Prague, marking a rare and strategic investment for the group as it shifts toward a more asset-heavy portfolio. The move signals a renewed focus on direct ownership of landmark properties and represents the company’s first acquisition in more than five decades.
The historic hotel, located in Prague’s Malá Strana district beneath Prague Castle, sits within the walls of the Augustinian Monastery of St. Thomas. The site dates back over 800 years and remains home to an active community of Augustinian monks, preserving a daily rhythm of worship, work, and study. The hotel occupies a defined portion of the monastery, balancing heritage with contemporary hospitality.
A Rare Heritage Investment
Kempinski describes the acquisition as a unique opportunity to secure a culturally significant property in one of Europe’s most visited capitals. Prague continues to attract strong demand for luxury travel, supported by its rich architectural landscape and central location along key European waterways.
The Augustine Hotel features 101 guest rooms, including 20 suites, many retaining original elements such as vaulted ceilings and wooden beams from the monastery’s former living quarters. The property also includes specialty dining venues, two bar concepts including The Refectory Bar in the former dining hall, a spa and fitness center, a historic library, extensive meeting space, and large outdoor terraces and gardens.
The hotel has long drawn an international clientele, including political leaders, cultural figures, and global executives.
Shaping the Future of Luxury
The acquisition reflects Kempinski’s evolving brand direction, centered on individuality, cultural depth, and immersive guest experiences. Leadership emphasizes a move away from uniform luxury toward properties that reflect their destination’s identity.
With full ownership, Kempinski plans to refine every aspect of the guest journey, from design and food concepts to wellness and on-site experiences. The Augustine Hotel is positioned to become a key example of this approach.
From 1 April 2026, the property will operate as a white-label luxury hotel while undergoing a design-led refurbishment. Updates will focus on modernizing rooms and public spaces while preserving the building’s historic character. It is expected to officially rebrand under the Kempinski name in late 2026, positioning it as a flagship for the group’s next chapter and its vision of “The Good Life” rooted in local culture and experience.
