After Anna Constantia von Hoym was banned by Augustus II in 1713, the Taschenbergpalais was renovated and named "Turkish Palais".

[5] The hotel features 213 rooms and suites as well as the Palais Bistro restaurant, the Café Vestibül coffeehouse located next to the historical staircase, and the Karl May Bar.

Furthermore, the hotel contains a spa area with a pool, steam bath, sauna, fitness center, and massage treatments.

On 4 June 2009 the 44th President of the United States of America Barack Obama stayed at the hotel during his visit to Dresden.

Other visitors include politicians such as Horst Köhler, Vladimir Putin, Jacques Chirac, Helmut Schmidt, and Gerhard Schröder, royalty such as Margrethe II of Denmark, Beatrix of the Netherlands, and Prince Albert II of Monaco, and artists like Günter Grass, Thomas Gottschalk, Karl Lagerfeld and Anna Netrebko.