Czech hospitality group CPI Hotels is expanding further into the European market with the announcement of the group’s acquisition of Mamaison Hotels and Residences, which has hotels in the Czech Republic, Slovakia, Poland, Hungary and Russia, in several major cities.
Terms of the deal were not disclosed.
Under the new management contract, CPI Hotels will be operating hotels in Prague, Ostrava, Bratislava, Budapest, Warsaw, and Moscow. Jan Kratina, CEO of CPI Hotels, said: “We are opening a new, very interesting chapter in our business. In the past years we focused on the intensive build-up of our hotel network in regional cities in the Czech Republic, but this is our first venture into foreign markets. The inclusion of Mamaison Hotels & Residences into the CPI Hotels portfolio is a significant step forward and strengthens our position on the market, in compliance with our long-term strategy of becoming the strongest player in terms of domestic as well as European market.”
CPI Hotels now has a portfolio of 28 hotels.