In April 1993, the grand opening of landmark hotel Excelsior in Marianske Lazne marked the emergence of Cimex within the hospitality industry. The sensible, full-scale renovation and re-positioning of the Excelsior Hotel landmark property demonstrated Cimex’s ability to successfully tackle challenging hospitality projects.
In October 1997, CIMEX GROUP acquired a majority stake in GEN a.s. – owner of domestic hotels and accommodation facilities. A subsidiary of GEN, OREA spol. s.r.o., was acquired as part of the transaction. Under Cimex’s supervision and asset management, the OREA brand soon became a domestic hospitality market leader. OREA HOTELS & RESORTS currently operates landmark hotels and resorts in the Czech Republic’s most attractive destinations.
An early commercial success is the Vindobona property in Karlovy Vary, where in 1995 we transformed a neglected building on the main street of the city into the CIMEX headquarters. A few years later, we developed another property on Na Pankráci 58 in Prague (current location of CIMEX headquarters) and then other properties in the area followed (Na Pankráci 60, Na Pankráci 30, Vyšehrad Garden and an office building in the famous BB Centre in Prague 4). Another success story is the sale of the Vltava building in Prague 1, where a luxury development project sits today. Our largest acquisition in recent years was the City West “B1” office building in Stodůlky, with 23,000 m2 of office and retail space and an annual rental income of about € 4 million.
We launched the EDULIOS real estate fund in 2014. It’s one of our most important investment projects and focuses on office properties in Prague. The fund’s first acquisition was the City West B1 building in the Stodůlky area of Prague. In addition, we recently turned our attention to asset and hospitality management – using the experties of our asset and facility management companies AHG and ARRIDERE.