Best Hotel Properties acquires 50% of CPI Hotels’ portfolio

Best Hotel Properties signed a joint venture agreement with CPI Property Group, comprising a portfolio of eight hotels located in the Czech Republic, including Clarion Congress Hotel Prague and Mamaison Residence Downtown Prague, among others, as well as CPI Hotels a.s., the hotel operator and management company. The gross transaction value was approximately €347 million.

Both parties view the joint venture as a long-term partnership and an opportunity to share operational knowledge and take the hotel portfolio to the next level.

Best Hotel Properties a.s. (BHP) is an active investor in the CEE region focusing on the ownership and operations of premium and luxury hotels. BHP’s portfolio of 922 hotel rooms includes Grand Hotel River Park in Bratislava and The Westminster Curio in London. The group also administers 4- and 5-star hotels with over 700 rooms, including Grand Hotel Kempinski in the High Tatras, and Crowne Plaza and Sheraton hotels in Bratislava.

CPI Hotels is a Czech-based hotel group with assets located across 5 European countries and 15 destinations, including brands such as Clarion, Buddha-Bar, Mamaison, Courtyard by Marriott, Holiday Inn, and others.

KPMG in Slovakia provided buy-side financial and tax advisory to BHP on the acquisition of 50% of the joint venture with CPI Hotels, named CPI Kvinta.