Strategic Hotels & Resorts has signed a share purchase agreement for the sale of the InterContinental Prague in the Czech Republic for €110.6 ($148m).

The hotel will be sold to an investment group led by an affiliate of Westmont Hospitality.

Laurence Geller, CEO of Strategic Hotels & Resorts, said the sale of the property is in line with the company’s disciplined disposition strategy.

Strategic Hotels & Resorts is a real estate investment trust.