Starwood has signed an agreement with Orchid Investment Ltd for the management of the Sheraton Prague Charles Square, marking the entry of the Sheraton brand into the vital Czech Republic market. The 160 room Sheraton Prague Charles Square is scheduled to open in Autumn 2008, after the existing building, presently hosting the Golden Gate hotel, will have completed an extensive renovation and expansion.

‘Prague is one of the most exciting cities in the region for all of Starwood’s leading brands, and we are thrilled to be entering the market with Sheraton, which is a perfect match for the energy and style of the city,’ said Roeland Vos, President of Starwood Hotels & Resorts, Europe, Africa & Middle East. ‘I would therefore like to thank Orchid Investment for the opportunity they have given us and the trust they have shown for the Sheraton brand.’

‘The Czech Republic is one of the most vibrant economies of Europe and we are delighted to bring our Sheraton brand to Prague, expanding Starwood’s footprint in the Czech Republic after the announcement of the Le Meridien, Prague’ added Erhard Noreisch, Senior Vice President and Director of Operations for Central and Eastern Europe for Starwood Hotels & Resorts. ‘The distinctive lifestyle positioning of our Sheraton brand will provide a unique and memorable experience to the guests of the Sheraton Prague Charles Square.’

Avi Cohen, partner of Orchid Investment Ltd, said, ‘We are proud to be working with the Sheraton brand. Taking into account its market leadership and history, we believe the choice of Sheraton is the right one and we look forward to starting the business relationship with Starwood Hotels & Resorts in Prague’.

Sheraton Prague Charles Square, a luxurious hotel featuring 160 fully equipped rooms and suites in four contiguous buildings overlooking a central courtyard, will be located on the border of the cultural and historical treasures of the Old Town of Prague with main attractions such as the Wenceslas Square and Charles Bridge in 5-10 minutes walking distance.
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