Best Hotel Properties a.s. (BSSE:1SRA001E) acquired 90% stake in Hotel InterContinental Prague from Westmont Hospitality Group, Inc. for approximately €120 million on December 20, 2013. As reported, Best Hotel Properties paid €36 million, financed through bank loans while the total consideration of the deal, including the existing debt represents €115 million. The remaining 10% stake will be owned by an affiliate of Westmont Hospitality which manages the hotel under InterContinental brand. Jan Procházka and Stewart M. Middleman together with a team of international lawyers of Dentons Canada LLP acted as legal advisors to Westmont. Jones Lang LaSalle's Hotel & Hospitality team acted as real estate advsior to Best Hotel Properties. PRK Partners s.r.o. advokátní kanceláø acted as legal advisor to Best Hotel Properties.

Best Hotel Properties a.s. (BSSE:1SRA001E) completed the acquisition of 90% stake in Hotel InterContinental Prague from Westmont Hospitality Group, Inc. on December 20, 2013.