IHG Hotels & Resorts has signed a deal to open InterContinental Prague, marking the brand’s return to the Czech capital with a 137-room luxury hotel scheduled to launch in the first half of 2029.
The project will transform a historic 19th-century building in Prague’s Old Town on Jeruzalemska 8, under the management of Generali Real Estate. It becomes IHG’s third hotel in the city alongside Holiday Inn Prague Congress Centre and Holiday Inn Prague Airport.
The development is part of IHG’s expanding luxury and lifestyle portfolio, which currently includes 112 open properties across Europe and 67 more in development. The agreement signals renewed investment in Prague’s high-end hospitality segment, supported by steady tourism demand and heritage-led regeneration in the capital. InterContinental Prague will join other regional InterContinental locations, including Sofia, Warsaw, Bucharest and Budapest.
Historic building to be revived as luxury hotel
The site dates back to 1839 and has previously served as a theatre, dance hall and, most recently, office space. Generali Real Estate will oversee the redevelopment, maintaining architectural heritage while repurposing the building into a full-service luxury property. The location sits close to Prague’s main railway station and within walking distance of Charles Bridge, Old Town Square and the Astronomical Clock.
Guest facilities will include a luxury spa with wellness amenities, a swimming pool, a bar and restaurant, and the brand’s flagship Club InterContinental lounge. A private garden will provide outdoor space for guests and residents, while conference rooms will cater to business travel and corporate markets based in the city centre. The project aims to position the property as a landmark addition to Prague’s high-end accommodation sector.
Partnership marks strategic growth for IHG in Central Europe
Willemijn Geels, Vice President, Development, Europe, IHG Hotels & Resorts, said: “We are honoured to begin our partnership with Generali Real Estate through this landmark signing in Prague, marking the return of our iconic InterContinental brand to the Czech Republic.” She noted that the move reinforces IHG’s development strategy across Central and Eastern Europe, adding: “The milestone not only represents a key moment in our Central and Eastern European development strategy, but also further strengthens IHG’s luxury and lifestyle portfolio in Europe, complementing our existing 34 hotels across these markets.”
She said the partnership represents a step toward delivering “an unparalleled InterContinental experience in the vibrant heart of Prague, setting new standards of luxury and hospitality and creating a destination that will captivate guests when it opens in 2029.” The announcement continues a wave of InterContinental openings and renovations across Europe as the brand undergoes a full end-to-end evolution of its luxury identity.
Ramon Spoladore, Head of CEE & Nordics, Generali Real Estate, said: “We are delighted that our first collaboration with IHG Hotels & Resorts will see us reimagine one of Prague’s most historical buildings into an InterContinental hotel – one of the most prestigious hospitality brands in the world. Together, we are committed to restoring and giving new life to an extraordinary asset.”
Spoladore said Prague remains one of Europe’s strongest hospitality markets due to its heritage, safety, cultural profile and tourism performance. “Prague is one of Europe’s most iconic cities and consistently ranks as one of Europe’s top tourist destinations, known for its rich history, vibrant cultural scene, safety and high-end lifestyle,” he said.
The redevelopment aligns with rising interest in heritage-led hotel investments, particularly in major European capitals where supply of historic sites is limited. With Prague’s real estate market showing sustained growth, the repositioning of the building is expected to support tourism-driven economic activity while expanding high-end accommodation capacity ahead of the opening.
IHG has 34 operating InterContinental hotels across Europe. InterContinental Prague joins a pipeline that includes InterContinental Manchester, InterContinental Belgrade and Six Senses Quexigal Palace. IHG states the relaunch of the brand in Prague aims to attract modern luxury travellers while preserving local identity through architecture and design.
The signing represents a long-term investment in Prague’s luxury market and underscores continued confidence in tourism demand in Central and Eastern Europe. When it opens in 2029, InterContinental Prague is positioned to become a flagship destination for visitors seeking proximity to historical landmarks, cultural venues and transport links within the city.
