Terra Firma acquires Welcome Hotels

The deal sees Terra Firma buy a portfolio of 12 hotels in Germany from hotel operator Haus Cramer Group, with plans to expand the business further during its ownership.

Following the GP's carve-out of Welcome, former CEO of Mamaison Hotels & Residences, Christian Kettlitz, will join the company as chief executive. Since leaving Czech hotel operator Mamaison in 2014, he has been a principal with advisory business Hotelpartner in Berlin.

Company
Headquartered in Warstein, Welcome Hotels is an operator of three- and four-star hotels in Germany.

The company manages 12 hotels, as well as one additional hotel under a management agreement.

People
Terra Firma – Guy Hands (chair, chief investment officer).
Welcome Hotels – Christian Kettlitz (incoming CEO).

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