• Prague rebrand
Russian private equity investor GledenInvest has bought the Augustine hotel in Prague. The 101 room hotel, which opened in 2009 and was formerly run by Rocco Forte, is to be rebranded under an international hotel flag.

The purchase signals a new strategy that will see GledenInvest build a hotel platform with investments planned in selected European, Asian and African locations. GledenInvest companies have already invested in several hotels in Russia, including the Moscow Metropol.
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