Tax issues on stake sales and investment into managers: structuring, pitfalls and steps to take now
Hotels
Advising investors and operators across the global hotels sector
We help hotel investors, owners and operators navigate the commercial challenges and complex regulatory frameworks inherent to the fast-moving and global hotels sector.
We work with some of the most prominent names in the industry, advising on the acquisition, development and operation of hotel businesses and assets (including on the management and commercial franchising of assets and brands). Our experts position our clients to achieve growth and operational excellence in their hotel investments.
Our multidisciplinary team brings together experts in corporate and M&A, real estate, real estate finance, tax and commercial, to deliver a range of high-value, complex transactions and advisory work for clients in the hotel sector, including:
- structuring and negotiating acquisition, disposal and joint venture investment transactions;
- negotiating hotel management, asset management, concession and franchising agreements;
- advising on debt and equity financing; and
- addressing the tax implications.
Our advice is based on our considerable sector experience and market insight, gained not only in the hospitality sector, but also in the private capital sector. This perspective helps investors and operators to effectively exploit opportunities as they arise, and achieve successful exits.
Work highlights include advising:
- Pandox AB on the scheme of arrangement and completion of the c.€1.7bn acquisition of Dalata Hotel Group plc, including on its acquisition finance facilities and on a framework agreement with Pandox’s long-term operating partner, Scandic Hotels Group AB, in relation to the management of the Dalata hotel operating business post completion;
- Cedar Capital Partners on its recapitalisation, with Ares Management Real Estate Secondaries Funds, of five leading lifestyle hotels in European gateway cities;
- Rocco Forte Hotels on the terms of the sale of a significant minority stake to Saudi Arabia’s Public Investment Fund (PIF) and associated joint venture arrangements between the Forte Family and PIF;
- Alchemy on the purchase of a stake in the luxury UK hotel and spa group, Barons Eden;
- Maybourne Hotel Group on hotel management arrangements for The Berkeley and The Connaught;
- a private international investor on the acquisition of the iconic Ritz Hotel, London, and associated redevelopment works;
- Emirates NBD Bank on the c.£170m financing of the W Hotel in London’s Leicester Square;
- Covivio on the acquisition of a portfolio of 14 hotels for £858m from Starwood Capital; and
- Legal & General on the development funding of landmark site County Hall in Oxford, for its redevelopment into a high-quality hotel.
