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Hotels/Hospitality

Our group has perhaps the broadest footprint across the globe of any firm advising on hotel and hospitality arrangements. We have represented each of the participants in significant hotel-related projects around the world, having handled assignments for hotel owners, operators, developers, investors and lenders.

Our work includes development projects (often with the hotel operator providing equity), acquisitions and dispositions of hotel and resort properties with and without the “flag,” mergers and acquisitions of hotel and resort companies, secured financings and workouts. We advise on corporate formation and governance matters; the creation of tax efficient, cross-border investment structures; project-level structuring and investment considerations; and the important intellectual property elements of transactions.

Shearman & Sterling has experience with every major hotel operator and represents clients in the United States, Europe, Asia and Latin America.

Major assignments include the following:

  • Representation of hotel ownership in the negotiation of a hotel management agreement with Starwood for a “W” hotel and residences in São Paulo, Brazil
  • Representation of a Middle Eastern investor in acquiring a controlling interest in a major mixed-use development, including a luxury hotel, currently planned for Manhattan
  • Representation of a sponsor group in the formation of a new hotel management vehicle with a unique global brand and in connection with offering of interests in a fund for hotel ownership
  • Representation of the Taj Hotel Group in the acquisition and financing of the Ritz Carlton, Boston and the Campton Hotel in San Francisco and the institution of Taj management at the hotels
  • Representation of a private investor in the acquisition of four hotels located in New York, Miami, Los Angeles and Hollywood from a joint venture between André Balazs’ Hotels AB and Greenfield Partners
  • Representation of one of the world’s largest banks in the workout of, and consummation of a mortgage foreclosure on, the Cosmopolitan Resort & Casino in Las Vegas, Nevada
  • Representation of a lead lender in the acquisition financing of the Fairmont Acapulco Princess and Fairmont Pierre Marques
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