The Czech hotel market has recorded one of its most notable deals of the year. The Prague Marriott Hotel & Millennium Plaza, an emblematic complex in the heart of the capital, has changed hands in favour of a Czech consortium bringing together J&T and Dosfield Group. The seller was advised on the transaction by CBRE, which mobilised its Czech Capital Markets and European Hotels teams jointly.
A mixed-use asset in the heart of Prague 1
The complex, known locally as The Millennium and located on V Celnici street, close to Masaryk railway station, spans more than 62,000 sqm and brings together five distinct uses within a single scheme. It comprises the 416-room Prague Marriott Hotel, along with approximately 10,500 sqm of office, retail and leisure space.
The asset also includes nearly 1,200 sqm of MICE facilities, four food and beverage outlets, and an underground car park with 460 spaces. This diversity of uses makes it one of the largest mixed-use real estate complexes in Prague’s city centre.
The Prague Marriott Hotel will continue to be operated by Marriott International under a long-term hotel management agreement, ensuring operational continuity for the property despite the change of ownership.
PH Properties Exits, J&T Structures a New Platform
On the seller side, PH Properties is parting with an asset it held in the heart of Prague. The acquisition is being carried out by Prime Hotel Assets Fund, a vehicle managed by J&T Investiční společnost, with equity participation from J&T Banka. Dosfield Group, an investment group specialising in hospitality, is acting as strategic partner on the transaction.
According to the information available, the transaction value has not been disclosed by the parties. This deal marks the first joint acquisition between J&T and Dosfield Group, and could lay the groundwork for a dedicated platform for commercial real estate investment in Central Europe, led by J&T Investiční společnost.
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A Deal That Confirms Prague’s Appeal
For CBRE, this transaction strengthens Prague’s position on the European investment map and illustrates the depth of investor demand for large, high-quality hotel assets in Central and Eastern Europe. It fits within a broader trend of several Czech investors positioning themselves over recent months around the capital’s major hotels.
The Czech hotel investment market had a particularly active 2025, driven by high transaction volumes nationally. This trend appears to be continuing in 2026, with several large-scale deals recorded since the start of the year in the large urban asset segment.
This Czech momentum echoes sustained hotel transaction activity across Europe, as confirmed by the latest data published by Savills on European hotel investment and by several recent hotel transactions observed across the continent.
Outlook for Central Europe
Beyond the Prague case, this transaction forms part of a broader reshaping of hotel ownership in Central Europe, where domestic investors are taking an increasingly prominent role alongside the international funds that have historically dominated this segment. The retention of the Marriott International management agreement is, in this respect, a signal of stability for the asset’s operations.
For Dosfield Group as for J&T, the deal could serve as a springboard for further hotel acquisitions in the region, as several large assets are likely to come to market in the Czech and Central European market in the coming months.
At a glance by The Hospitality Tribune
Deal: Prague Marriott Hotel & Millennium Plaza acquired by J&T (via Prime Hotel Assets Fund, managed by J&T Investiční společnost, with J&T Banka equity participation) and Dosfield Group, from PH Properties.
Largest single-asset hotel transaction in CEE in 2026, one of the largest in Europe this year
Mixed-use complex spanning 62,000+ sqm across five uses in central Prague
416-room Prague Marriott Hotel, ~10,500 sqm office/retail/leisure space, ~1,200 sqm MICE facilities, 4 F&B outlets, 460-space underground parking
Hotel to remain under a long-term Hotel Management Agreement with Marriott International
Deal value undisclosed
Advisor: CBRE (exclusive sell-side commercial adviser to PH Properties)
