The hotel is located in the Dejvice quarter of the Prague 6 municipal district, and was recognized on the list of Czech cultural monuments on 4 July 2000.

[2] The hotel built with the support of Alexej Čepička, the Czechoslovakian Minister of Defence, who envisioned a monument to the newly formed Fourth Czechoslovak Republic that would reinforce ties with the Soviet Union.

[2][3] The original plans were commissioned from the college of architects at the Military Project Institute in 1951, and called the site Hotel Družba, the Russian word for friendship.

[2][3] Other suggested names included Podbaba, Juliska, Máj, Mír, Slovan, Experiment, Eldorádo, Stůlka prostři se, and Den a noc.

[2][3] The original illuminated communist-inspired red star that adorned the top of the building's spire was changed to green, the color of the Holiday Inn logo.

[6] The hotel is divided into two symmetrical wings, with a large central tower, and the former officers' gym was converted into a convention hall with a bar.

[3] The entrance hall and the main staircase include a stucco and painted ceiling, marble columns, and artworks on its walls to create a palatial atmosphere.

Glass panels are featured in the hotel, which include Czech national motifs from artists Jaroslav Brychta and Vilém Dostrasil.

The largest tapestry called Praga Regina Musicae is located in the entrance hall, and features a view of Prague with the former Stalin monument in Letná Park in the middle.

[7] The hotel features a conference centre that includes 14 halls with a capacity of 1200 people, and other renovations in 2016 increased the number of guest rooms to 278.