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PwC Legal Advises U City on Restructuring of Vienna House Diplomat Prague Hotel

PwC Legal Advises U City on Restructuring of Vienna House Diplomat Prague Hotel

Czech Republic
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PwC Legal has advised the U City Group on internal restructuring, involving the incorporation of hotels previously purchased by Vienna House into its portfolio and the restructuring of the Vienna House Diplomat Prague hotel.

U City is a Thailand real estate company with a total asset value of EUR 1.63 billion that is listed on the Bangkok Stock Exchange, and the Vienna House Diplomat Prague is a four-star hotel in the Czech capital with over 400 rooms.

According to PwC Legal, “the transaction included the spin-off of the entire hotel to a new entity. The newly created company, Recoop Tour a.s., will now manage the operation of the four-star hotel. The assets, including the real estate itself, were segregated to Vienna House Diplomat Prague RE s.r.o.”

The PwC Legal team included Senior Associate Daniel Pikal and Junior Associate Pavlina Krausova.

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PRK Partners, one of the leading Central European law firms, has been helping clients achieve their business objectives almost 30 years. Our team of lawyers, based in our Prague, Ostrava, and Bratislava offices, has a unique knowledge of Czech and Slovak law and of the business environment. Our lawyers studied at top law schools in the United States, United Kingdom, Switzerland and elsewhere. They also have experience working for leading international and domestic law firms in a number of jurisdictions. We speak your language, too. Our legal team is fluent in more than 15 languages, including all the key languages of the region.

PRK Partners has one of the most experienced legal teams on the market. We are consistently rated as one of the leading law firms in the region. We have received many significant honours and awards for our work. We represent the interests of international clients operating in the Czech Republic in an efficient way, combining local knowledge with an understanding of their global requirements in a business-friendly approach. We are one of the largest law firms in the Czech Republic and Slovakia. Our specialised teams of lawyers and tax advisors advise major global corporations as well as local companies. We provide comprehensive legal advice drawing on our profound knowledge of local law and markets.

Our legal advice delivers tangible results – as proven by our strong track record. We are the only Czech member firm of Lex Mundi, the world's leading network of independent law firms. As one of the leading law firms in the region, we have received many national and international awards, in some cases several years in a row. Honours include the Chambers Europe Award for Excellence, The Lawyer and Czech and Slovak Law Firm of the Year. Thanks to our close cooperation with leading international law firms and strong local players, we can serve clients in multiple jurisdictions around the globe. Our strong network means that we can meet your needs, wherever you do business.

PRK Partners has been repeatedly voted among the most socially responsible firms in the category of small and mid-sized firms and was awarded the bronze certificate at the annual TOP Responsible Firm of the Year Awards.

Our work is not only “business”: we have participated on a longstanding basis in a wide variety of pro bono projects and supported our partners from the non-profit sector (Kaplicky Centre Endowment Fund, Tereza Maxová Foundation, Czech Donors Forum, etc.).

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