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Real Estate

Hotels

We have represented a variety of clients in the acquisition, disposition, financing and restructuring of hotel properties. As in other areas, our experience is diverse, and our engagements encompass all of the different parties to these transactions.

Selected Representations:

  • Counsel to Highgate Holdings in the US$250m acquisition of the Milford Plaza Hotel in New York City.

  • Counsel to Walton Street and Highgate Holdings in the acquisition and financing of the former Knickerbocker Hotel located at 6 Times Square in New York City and the adjacent parcel of land.

  • Counsel to Macklowe Properties in the following matters:
    • Negotiation of hotel management and related agreements with Amanresorts.
    • US$440m acquisition of the Drake Hotel on Park Avenue in New York City.


  • Counsel to the Churchill Hyatt Hotel, London in the negotiation of its management agreement with Global Hyatt Corporation.

  • Counsel to Retirement System of Alabama (RSA) in its acquisition of The Marriott Grand Hotel in Point Clear, AL and related management and franchise arrangements.

  • Counsel to an affiliate of Time Warner in the acquisition of the Four Seasons Hotel in New York City.

  • Counsel to JPMorgan in the financing of the Shutters on the Beach Hotel in Santa Monica, CA.

  • Counsel to Marriott Champs-Elysées Hotel in its mortgage based refinancing.

  • Counsel to Strategic Hotels & Resorts, a US based public REIT, in its €66.5m acquisition of the Paris four star hotel Sofitel Demeure Le Parc following a competitive bid process initiated by the Accor Group.

  • Counsel to Intell Management and Investment Company in a construction loan from affilate of Nomura Securities Co. to develop the flagship "W" hotel in Times Square in New York City.

  • Counsel to Amedeo Hotels LP, the owners of the Palace Hotel, in its mortgage loan from North Fork Bank.

  • Counsel to Merrill Lynch & Co. in the offering of mortgage debt securing Trump Plaza Hotel and Casino in Atlantic City, NJ.

  • Counsel to an affiliate of Tishman Speyer in the sale of a hotel development site in Sao Paolo, Brazil to Marriott International.

  • Counsel to Hotel Royal Monceau in Paris in its restructuring and sale.

  • Counsel to the Wolfson Group in the refinancing of the Carlton Hotel in New York City.

  • Counsel to Credit Suisse in the following matters:
    • CMBS loan to the LBO group which included the Whitehall Funds, Colony Capital, and the Related Companies, among others, in the going private transaction of the Kerzner Companies, the owner of the Atlantis Casino and Resort and the One and Only Ocean Club.
    • Construction loan to partnership of the government of Aruba and Radisson Hotels for the substantial renovation of Radisson Aruba Resort, Spa & Casino.
    • Loan to Whitehall Street Real Estate Limited Partnership to finance its acquisition of Chartwell Leisure, Inc., a company that owns a portfolio of Travelodge, Ramada, Sleepy Bear and other hotels in the US and Canada.
    • Financing of the renovation of the Essex House Hotel in New York City.
    • Origination of a mortgage loan secured by Planet Hollywood Hotel in Las Vegas, NV.
    • Financing of Hotel 71 in downtown Chicago and related condominium conversion.
    • Financing of the Royal Palm Hotel in Miami, FL and related condominium conversion.
    • US$360m refinancing of The Resorts International Hotel and Casino located in Atlantic City, NJ.
    • Proposed refinancing of the Hard Rock Hotel and Casino in Las Vegas, NV.
    • Proposed financing of the Cancun Ritz-Carlton.


  • Counsel to Millennium & Copthorne Hotels plc in the following matters:
    • Acquisition of and the negotiation of new management agreements for the Plaza Hotel and The Millennium Hilton in New York, NY.
    • An unsecured bank loan facility.
    • Acquisition of North American operations of Regal Hotels International.

  • Counsel to Time Equities in a series of land use actions resulting in approvals for a New York City building, 50 West Street, a US$60m, 63-story hotel and residential building designed by Helmut Jahn.

  • Counsel to Fremont Realty Capital in a joint-venture primarily owned by Fremont Realty Capital in the acquisition of The Georgian Terrace Hotel in Atlanta, GA.

  • Counsel to Tishman Hotels and Resort in the refinancings for Hilton Walt Disney World; Sheraton River North; Westin NY; and Sheraton Old San Juan.

  • Counsel to Firmdale Hotels plc in its proposed ground lease of a site in New York City for the development of a new boutique hotel.

  • Counsel to Lehman Brothers in the global restructuring of the Le Meridien group and the formation of a 50-50 joint-venture with Starwood Capital Group Global LLC to acquire the owned and leased hotel portfolio of Le Meridien.

  • Counsel to Sitt Asset Management in its sale of the Knickerbocker Hotel, located at 6 Times Square in New York City, to Istithmar Hotels, FZE.

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