Shearman And Sterling

The Hospitality, Leisure & Gaming sectors play an integral role in the global economy and face changing regulations and an increasing number of disruptive forces and challenges across the globe. Hotel owners, operators, developers, lenders and investors rely on the experience of industry-focused advisors to provide counsel on their hospitality-related transactions across borders.

Hospitality & Leisure

The current economic, political and regulatory landscape is bringing volatility to the market. The industry is contending with potential cash-flow shortfalls and financing challenges along with the unknown consequences of Brexit and other global changes.

Industry “disrupters” like the alternative accommodations market and other technologies continue to impact the sector, becoming a new competitive driver forcing traditional hospitality to re-examine existing business models. Similarly, new types of licenses and other management agreements that provide flexibility to hotel owners are evolving alongside the contracts that have been the standard for many years in the hotel industry.

Consolidation in the industry is expected to continue with lodging REITs, corporations and timeshare companies adding to the mix. Now more than ever, industry leaders need insightful, business-minded counsel that can keep up with the changing market. Collaborating side-by-side with you, we know the hospitality business from every angle. We represent owners, investors, joint ventures, investments funds, lenders and hotel operators in a broad range of domestic and international industry-related transactions. Our work includes development projects, acquisitions and dispositions of hotel and resort properties, mergers and acquisitions of hotel and resort companies, secured financings and workouts. Our lawyers provide tailored, cutting-edge solutions as your needs change over time across a wide range of areas, including Real Estate, Mergers & Acquisitions, Project Development & Finance, Intellectual Property, Tax and Financial Restructuring and Insolvency.


The gaming industry faces unique challenges that require a cross-disciplinary approach. Boards and regulatory commissions demand internal control standards and practices, cost-effective tax structures and ongoing analysis of legislative and economic impacts on the industry. Owners, operators and lenders must interact with organizations in both the public and private sectors — investment banks, commercial lending institutions, governmental bodies and the licensing agencies that regulate their operations.

Entering new markets requires a partner who can help you navigate every step of the way. We will help you analyze the economic consequences — from introducing legalized gaming into a new market to evaluating the financial suitability and overall viability of potential licensees in newly developed gaming jurisdictions.

In such a global industry, economic and regulatory challenges can have far-reaching impact. Relying on a team of lawyers with offices in gaming hubs around the world will help you navigate complicated international issues, such as the implications of the emergence of major casinos in the Asia-Pacific region operated by US-based companies.

With our long-standing commitment to the industry, Shearman & Sterling can help you achieve your business goals. Our global platform provides the geographic reach required for the 21st century economy, and our cross-disciplinary and responsive team takes a practical approach, providing effective strategies and solutions.