Zeitraum opens another house directly on Wenceslas Square, Prague
Zeitraum will start operating the second house with serviced apartments in the centre of Prague in June, with the ‘Franz by Zeitraum’ building in Opletalova Street successfully functioning since 2021. The newly opened ‘Karl by Zeitraum’ is located in Krakovská Street 2, just a few minutes walk from Wenceslas Square and Charles Square. It will offer both short-term accommodation for several days and long-term rentals.
Zeitraum will start operating the second house with serviced apartments in the centre of Prague in June, with the ‘Franz by Zeitraum’ building in Opletalova Street successfully functioning since 2021. The newly opened ‘Karl by Zeitraum’ is located in Krakovská Street 2, just a few minutes walk from Wenceslas Square and Charles Square. It will offer both short-term accommodation for several days and long-term rentals. The booking system has already been launched. You can choose from a total of 32 stylish apartments with fully furnished interiors including kitchens. There are both smaller units with their layout resembling a studio, as well as spacious three-room apartments with an area of about 75m2 with a separate bedroom.
The house is the second similar building to be operated by Zeitraum in the Czech Republic. The company entered this segment last May with 53 accommodation units in Opletalova Street. ‘We noticed the interest in serviced apartments almost immediately after the opening of our first building. The key for us were mainly Czech guests during the last year, which was affected by travel restrictions. However, clients from Germany, Poland and other European countries gradually joined them. This year, we are already seeing an increase in the number of foreign guests outside Europe. However, the local clients who like to return to us remains a priority for us,’ said Zdena Noack, Managing Director at Zeitraum, adding: ‘In any case, since February, we have also been observing an increase in demand for medium-term accommodation by up to 200%, taking into account the current geopolitical situation. The interest is primarily in flexible length of stay with the possibility of extension – this applies to both short-term accommodation and long-term rentals. These are mainly clients of various national and multinational corporations, but also families for whom Prague may not be the final destination.’
The new ꞌKarl by Zeitraumꞌ building is situated near Wenceslas Square, which is the centre of social and business events in the capital. The original corner building from 1884 between Krakovská Street and Žitná Street underwent extensive reconstruction designed by the architectural studio Prins. Construction works were carried out from the third quarter of 2020 under the supervision of the general contractor, Konstruktis. This attractive location made it possible to create unique views towards the National Museum.
‘Approximately half of all apartments are for short-term accommodation. In our experience, they are most often used by people who come to the capital as tourists and spend 4 days on average there. Another 50% are residents and guests for long-term stays of more than several months, even years. Three-room apartments will be a new feature in Krakovská Street. Based on the current demand, we have decided to expand our offer by long-term rentals. In developing our concept of serviced apartments for long-term rentals, we can also draw on the experience of our sister brand “Home by Zeitgeist”, which provides rental housing in Poland and the Czech Republic; its portfolio in Prague currently includes 16 residential buildings in renovated houses and new buildings in various locations,’ said Zdena Noack.
Each room is equipped with basic furniture – whether it is a seating area, built-in wardrobes, a sufficiently large desk or beds with quality mattresses. There is also a fully equipped kitchen including electrical appliances (induction hobs, microwave ovens, kettles or dishwashers). All rooms have underfloor heating. There is a smart TV with satellite receiver and unlimited Wi-Fi.
The apartments are airy and have high ceilings. The rooms are made in a modern spirit, with neutral tones inspiring comfort and a cosy atmosphere. All equipment is fully functional and practical, even in smaller units. When choosing furnishings, the Czech companies were given space. Storage areas, tables and kitchens were custom-made by the Duspiva joiner’s shop. Comfortable beds with quality mattresses were supplied by Sanybet. Sofa beds are by Polstrin and the lighting supplier is PROFI lighting.
The booking of short-term accommodation and long-term rentals takes place through an online booking system. The service provided includes, among other things, the overall maintenance of the apartments and, on request, the ongoing cleaning. You can use the services of a central laundry with high-performance washing machines for washing/cleaning. Convenient and safe access to the building and individual apartments is ensured by smart cards.
‘As one of the few companies in Prague, we provide fully equipped apartments in which a person can enjoy a few days or live fully and on a long-term basis without any additional investment in equipment. Compared to apartments for rent, it is not necessary to furnish the apartment in case of only 1- or 2-year stay. Furthermore, the client does not expect any unpleasant surprises or additional unbilled costs at the end – everything is already part of one price,’ said Zdena Noack.
Zeitraum Apartments and Zeitraum Student Housing are the subsidiaries of Zeitgeist Asset Management, which develops and manages real estate for private investors in the Czech Republic, Poland, Hungary and Germany. Zeitgeist currently manages assets worth €682 million.Back to the list