The history of the Taschenbergpalais goes back to the year 1709, when Augustus the Strong had it built for Countess Cosel by the baroque architect Pöppelmann. It was not long before the Palais became a centre of social life, accommodating crown princes and royal guests. The building was destroyed during World War II, after which only its morbid beauty gave any hint of its former splendour.

In 1993-94 ADVANTA AG, a Frankfurt based company, had the idea of reconstructing the building in its original magnificence, and Kempinski Hotels & Resorts now runs it as a 5-star grand hotel. Now the Palais is once again a popular meeting place in Dresden, and it accommodates guests from all over the world offering every comfort and luxury imaginable..